Capital Stage AG, DE0006095003

Capital Stage AG, DE0006095003

24.08.2017 - 09:18:48

Capital Stage AG: successful first half of 2017 and increase in earnings forecast for 2017

Capital Stage AG: successful first half of 2017 and increase in earnings forecast for 2017Hamburg, 24 August 2017 - The SDAX-listed Hamburg-based solar and wind park operator Capital Stage has again significantly increased its operating results during the first half of 2017 compared to the same period in the previous year. Particular factors in this increase were the takeover of CHORUS Clean Energy AG, the acquisition of additional solar and wind parks as well as increased sunshine as compared to the previous year. This successful course of business has led the Management Board of Capital Stage AG to elevate its earnings forecast for the current 2017 financial year. In the first six months of 2017, Capital Stage AG managed to increase its revenue by more than 75 per cent to EUR 113.8 million (6M 2016: EUR 64.9 million). The significant factors in this strong growth in revenue were the continued expansion of the solar and wind park portfolio, more hours of sunshine as well as the expansion of the existing installation portfolio as part of the takeover of CHORUS Clean Energy AG. Unlike in the report for the corresponding period of the previous year, the half-year report for 2017 will include the results achieved by CHORUS Clean Energy AG. In the reporting period, its share in revenue for the Capital Stage Group amounted to some EUR 36.3 million.75 per cent increase in operating EBITDA to approx. EUR 56 million Operating consolidated earnings before interest, taxes and depreciation and amortisation (EBITDA) rose considerably from around EUR 50.8 million to EUR 88.0 million in the first half of 2017, which corresponds to an increase of 73 per cent. Operating earnings before interest and taxes (EBIT) improved compared to the previous year by no less than 75 per cent and reached a level of EUR 55.9 million (6M 2016: EUR 31.9 million). According to preliminary calculations, cash flow from operating activities rose to EUR 69.9 million. This figure totalled EUR 44,9 million in the same period in the previous year. Additionally, cash flow from operating activities is affected by advance payments and refunds of taxes which cannot be planned during the reporting period, but which largely offset over the course of the year. "Our operating earnings in the first half of 2017 are a major success and the result of our course of qualitative growth. In addition to the effects of CHORUS now being fully included in the financial reporting, the positive developments in earnings are also an early indication that we, as the Capital Stage Group, have become better," says Dr Christoph Husmann, Chief Financial Officer (CFO) of Capital Stage AG, regarding the earnings in the first six months of 2017. From January to August 2017, the company acquired further solar and wind parks with a total generation capacity of nearly 70 megawatts. Moreover, also during the reporting period, the regional diversity of the existing portfolio was further increased through the entry into the Danish market.  Guidance increase for 2017 overall In light of the extremely positive earnings development in the first half of 2017, the Management Board of Capital Stage AG has increased its guidance for the 2017 financial year overall. For the 2017 financial year, the Management Board now expects revenue of greater than EUR 215 million (previously EUR 200 million). Group operating earnings before interest, taxes, depreciation and amortisation (EBITDA) should therefore increase to more than EUR 160 million (previously EUR 150 million). Operating earnings before interest and taxes (EBIT) should come in at over EUR 97 million (previously EUR 90 million). Cash flow from operating activities is expected to climb to over EUR 150 million (previously EUR 140 million). These forecast figures are based upon the existing portfolio as of August 2017. Potential acquisitions of additional solar and wind parks as well as new clients in the Asset Management division during the 2017 financial year were not taken into account, however. On 31 August 2017, Capital Stage AG will publish its full half-year report for the period of 1 January to 30 June 2017. This can be found on the company's website at www.capitalstage.com. The development of key operating figures is based solely on the company's operating profitability and does not take any IFRS-related valuation effects into account. CHORUS Clean Energy AG has been fully consolidated in the earnings figured as of 30 June 2017.Contact:Capital Stage AG Till Gießmann Head of Investor & Public Relations Capital Stage AG Große Elbstraße 59 22767 Hamburg Fon: + 49 40 37 85 62-242 Fax: + 49 40 37 85 62-129 e-mail: till.giessmann@capitalstage.com http://www.capitalstage.com

24.08.2017 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

603735  24.08.2017 

@ dgap.de

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