ENCAVIS AG

Earnings Release • May 24, 2016

News Details

Corporate | 24 May 2016 18:37

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