Capital Stage AG, DE0006095003

Capital Stage AG, DE0006095003

27.03.2017 - 08:57:36

Capital Stage AG: Preliminary operating results for 2016 exceed internal expectations

Capital Stage AG: Preliminary operating results for 2016 exceed internal expectations

Revenue growth of more than 25 per cent Equity ratio up to more than 25 per cent Growth is expected to continue in 2017 The SDAX-listed Hamburg-based solar and wind park operator Capital Stage reports further significant growth in the 2016 financial year on the basis of preliminary operating figures. Despite it being a comparatively poor year for wind, the company even exceeded its own forecast for the operating result in 2016. This positive performance was based primarily on further expansion of the portfolio of solar and wind parks and the takeover of CHORUS Clean Energy AG in October 2016. At the same time, Capital Stage's equity ratio has increased significantly as of the reporting date. Revenue in the 2016 financial year increased significantly by more than 25 per cent to some EUR 141.8 million (Capital Stage forecast for 2016: EUR 140 million). Operating earnings before interest, tax, depreciation and amortisation (operating EBITDA) came to some EUR 106.1 million (Capital Stage forecast for 2016: EUR 104 million). Operating earnings before interest and tax (operating EBIT) rose again in the reporting period to EUR 61.6 million (Capital Stage forecast for 2016: EUR 60 million). Cash flow from operating activities was also up significantly in 2016 to over EUR 103.8 million (Capital Stage forecast for 2016: EUR 98 million). The preliminary figures for operating results exceeded the own expectations of the company for the 2016 financial year. According to the preliminary figures, the equity ratio has increased to 25.9 per cent and the balance sheet total to approximately EUR 2.4 billion compared to the reporting date of the previous year. For the first time, the operating figures for the 2016 financial year include the earnings contributions of CHORUS Clean Energy for the fourth quarter of 2016. Capital Stage's results are therefore only partially comparable with those for the previous year. In November 2016, Capital Stage AG published an adjusted earnings forecast for 2016 (Capital Stage forecast) which included earnings contributions from CHORUS in the fourth quarter 2016.Continued growth in 2017 Capital Stage is also confident it will continue its rapid growth in the current 2017 financial year. For 2017, the Company is expecting revenue to go up to over EUR 200 million. Operating EBITDA should increase to more than EUR 150 million as a result. The Management Board is expecting operating EBIT for 2017 to be in excess of EUR 90 million. Cash flow from operating activities should again improve significantly to over EUR 140 million. "The preliminary operating results exceed our own expectations. In addition to the systematic expansion of our portfolio, it was above all the takeover of CHORUS Clean Energy AG that made the decisive contribution to this success," Dr Christoph Husmann, CFO of Capital Stage AG, comments on the preliminary result. "In the current 2017 financial year, we definitely intend to keep growing. We will continue to build our portfolio of profitable solar and wind parks and also review carefully any further opportunities for inorganic growth. Our guidance for 2017 is nonetheless based solely on the existing portfolio and does not include any additional acquisitions over the remainder of the year," continues Dr Husmann.Notes on the preliminary figures for 2016 The figures provided are based solely on the Company's operating profitability and do not take any IFRS-related valuation effects into account. In addition, the operating earnings figures (operating EBITDA, EBIT) and the operating cashflow have been adjusted for one-time  expenses of about EUR 4.6 million and some EUR 8.5 million respectively. The earnings forecast for the 2017 financial year is also based solely on the portfolio of solar and wind parks as of the reporting date 31 December 2016. Any further acquisitions or new asset management mandates acquired over the course of the remaining financial year are not included in the published forecast. These preliminary operating figures for Capital Stage are still subject to audit and must be confirmed by the Supervisory Board. Definitive financial and earnings figures for the year 2016 will be published on 31 March 2017.  About Capital Stage AG: Since 2009, Capital Stage has been investing in and operating solar and wind parks, now with installations in Germany, France, Finland, 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 Contact: 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:

27.03.2017 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

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: Internet: 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

558299  27.03.2017 


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