Capital Stage AG, DE0006095003

Capital Stage AG, DE0006095003

23.05.2017 - 12:35:40

Capital Stage AG: Successful start to fiscal year 2017 - strong growth in the first quarter of 2017

Capital Stage AG: Successful start to fiscal year 2017 - strong growth in the first quarter of 2017Hamburg, 23 May 2017 - The SDAX-listed Hamburg-based solar and wind park operator Capital Stage had a dynamic start to the fiscal year 2017. According to preliminary key operating figures for the first three months of 2017, the company again recorded a very strong growth. Sales revenues were up by 88 per cent in the first quarter of 2017 (yoy) to almost EUR 42 million (Q1/2016: EUR 22 million). This strong increase is attributable to both the on-going expansion of the solar and wind park portfolio and the increase in the plant portfolio resulting from the takeover of CHORUS Clean Energy AG. The preliminary key operating figures are in line with the Management Board's expectations, for the full year 2017 which was released in December 2016. According to preliminary key operating figures, Capital Stage generated sales revenues of EUR 41.9 million in the first quarter of 2017 (Q1/2016: EUR 22.4 million), which represents an increase by approximately 88 percent on the same period of the previous year. Preliminary operating earnings before interest, taxes, depreciation and amortisation (EBITDA) doubled to approximately EUR 31.0 million (Q1/2016: EUR 15.6 million). As a result, the EBITDA margin picked up again to 74 percent (Q1/2016: 70 percent). Growing by over 144 percent, preliminary operating earnings before interest and taxes (EBIT) showed the strongest increase to approx. EUR 15.0 million (Q1/2016: EUR 6.1 million). Capital Stage's operating cash flow climbed by over 49 percent to EUR 21.3 million (Q1/2016: EUR 14.3 million). As the operating cash flow accounting method was adjusted in the second half of 2016, the result of the first quarter of 2016 was adjusted for tax refunds for a park driven by acquisitions. "The strong growth of our operating performance indicators in the first quarter of 2017 reflects the successful implementation of our strategy of profitable growth. Since the beginning of 2017, the Capital Stage Group has expanded the solar and wind park portfolio to over 1.25 gigawatts and successfully expanded its country portfolio by acquiring its first wind park in Denmark in May," said Dr. Christoph Husmann, CFO of Capital Stage AG. The results for the first quarter are in line with the expectations of the Management Board, which once again confirmed its projections for the full year 2017. The latter are based on the portfolio as of early December 2016 and does not include any acquisitions already made or to come in fiscal year 2017. For the full year 2017, the Management Board expects sales revenues to climb to over EUR 200 million and operating EBITDA to come in at over EUR 150 million. Operating earnings before interest and taxes are projected to increase to over EUR 90 million. Operating cash flow should climb to over EUR 140 million.   Capital Stage will publish its full interim statement for the period 1 January to 31 March 2017 on 31 May 2017. It can be found on the company's website at www.capitalstage.com.  About Capital Stage AG: Capital Stage invests and operates solar and wind parks in Germany, Denmark, Finland, France, the United Kingdom, Italy, Austria and Sweden. Including solar and wind parks acquired and operated as part of the asset management business for third parties, the company's generation capacity totals more than 1.2 gigawatts. This makes Capital Stage one of Europe's leading independent solar and wind park operators. With its solar and wind parks, the company generates attractive yields as well as continuous and predictable income.   The Capital Stage AG share is listed on the regulated market (Prime Standard) of the Frankfurt Stock Exchange and on the regulated market of the Hamburg stock exchange (ISIN: DE0006095003 / WKN: 609500). Since 2014, the Capital Stage AG share has been included in the SDAX index of Deutsche Börse.   You can find further information on the company at www.capitalstage.com.  Contact:  Capital Stage AG Till Gießmann Head of Investor and Public Relations Tel.: +49 (0)40 378 562 242 Fax: +49 (0)40 378 562 129 Email: till.giessmann@capitalstage.com http://www.capitalstage.com

23.05.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language: English

Company: Capital Stage AG Große Elbstraße 59 22767 Hamburg

Germany Phone: +49 4037 85 62 -0 Fax: +49 4037 85 62 -129 E-mail: info@capitalstage.com Internet: www.capitalstage.com ISIN: DE0006095003 WKN: 609500 Indices: SDAX Listed: Regulated Market in Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange   End of News DGAP News Service

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