ENCAVIS AG
Capital Stage AG: Q1 2016 in line with expectations / Forecast for FY 2016 confirmed
DGAP-News: Capital Stage AG / Key word(s): Quarter Results/Quarter Results 2016-05-24 / 18:37 The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- The SDAX-listed Hamburg-based solar and wind park operator Capital Stage reached its production and earnings targets in the first quarter of 2016. As had been expected, the strong expansion of the solar park portfolio in 2015 intensified the associated seasonal effects on the bottom line. These effects will be balanced out over the course of the year. In view of the result for the first three months of 2016, the Management Board has confirmed its earnings forecast for the financial year 2016. In the first quarter of 2016, Capital Stage increased its sales revenues to TEUR 22,351 (Q1/2015: TEUR 17,549). Earnings before interest, taxes, depreciation and amortisation (EBITDA) climbed to TEUR 15,576 (Q1/2015: TEUR 13,554). Increased depreciations resulting from the expansion of the portfolio and which are seasonally independent lead to an operating result (EBIT) of TEUR 6,134 (Q1/2015: TEUR 6,961). Operating cash flow rose to TEUR 19,555, which represented a strong increase on the same period of the previous year (Q1/2015: TEUR 5,735). The operating result for the first three months of 2016 was thus in line with the company's expectations. The Management Board of Capital Stage confirmed its earnings projections for the fiscal year 2016 issued in March 2016, according to which sales revenues are expected to climb to over EUR 130 million (2015: EUR 112.8 million), operating EBITDA will exceed EUR 100 million (2015: EUR 86.8 million) and operating EBIT will exceed EUR 60 million (2015: EUR 55.4 million). Operating cash flow should come in at over EUR 93 million (2015: EUR 74.5 million). The earnings forecast continues to be based on the current portfolio of secured investments as of 31 March 2016 and does not take into account any additional investments in the financial year 2016. Capital Stage's own funds currently support investments in excess of EUR 300 million. The company is confident to announce further acquisitions in the solar and wind energy sector shortly. Capital Stage will publish its full consolidated financial statements for the period 1 January to 31 March 2016 as prepared in accordance with the IFRS on 31 May 2016. They can be found on the company's website at www.capitalstage.com. About Capital Stage AG: Since 2009, Capital Stage has acquired solar power plants and wind parks in Germany, France, Italy and the UK with a total generation capacity of almost 600 MW. As such, Capital Stage today is Germany's largest independent operator of solar parks and already has a generating capacity that is equivalent to more than half the output of a nuclear power plant. Capital Stage today also is Germany's largest independent operator of solar parks. The high quality of the existing portfolio in combination with an excellent O&M management generate attractive returns and stable revenues for Capital Stage, while offering only a moderate level of investment risk. Capital Stage AG is listed in the regulated market (Prime Standard) of the Frankfurt Stock Exchange and in the regulated market of the Hanseatic Stock Exchange Hamburg (ISIN: DE0006095003 / WKN: 609500). The shares of Capital Stage AG have been listed in the Deutsche Börse Frankfurt a. M. selective index SDAX since March 2014. For more information, visit www.capitalstage.com Contact: Capital Stage AG Till Gießmann Head of Investor & Public Relations Fon.: + 49 (0)40 37 85 62-242 Fax: + 49 (0)40 37 85 62-129 e-mail: till.giessmann@capitalstage.com --------------------------------------------------------------------------- 2016-05-24 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 End of News DGAP News Service
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