Earnings Release • Mar 23, 2016
Earnings Release
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Ad-hoc | 23 March 2016 10:36
Capital Stage AG: Preliminary operating result for FY2015 up by over 50%
Capital Stage AG / Key word(s): Preliminary Results/Preliminary Results
23.03.2016 10:36
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Hamburg, 23 March 2016 - According to preliminary figures, SDAX-listed
Hamburg-based solar and wind park operator Capital Stage again recorded a
strong increase in its operating result for the 2015 financial year. Growth
was driven by the ongoing and substantial expansion of the company's
portfolio of solar and wind parks.
Revenues picked up by over 55% to EUR 112.8 million in the 2015 financial
year (2014: EUR 72.1 million). Operating earnings before interest, taxes,
depreciation and amortisation (operating EBITDA) amounted to approx. EUR
86.8 million (2014: EUR 55.4 million), also up by more than 55% on the
previous year. Operating earnings before interest and taxes (operating
EBIT) increased sharply by over 60% to approx. EUR 55.4 million (2014: EUR
34.6 million). The preliminary operating results of Capital Stage thus
exceed the guidance issued by the company itself in early 2015.
Operating cash flow also rose sharply to over EUR 74.5 million in the 2015
financial year (2014: EUR 55.9 million). However, it had been influenced by
special and one-time effects. These include a belated tax refund, which was
booked only after the reporting date on 31 December 2015, as well as the
country-specific amendment of a payment system, that leads to a smaller
performance-based portion to be billed and paid with some time lag. Going
forward, the amendment will be incorporated into the company's future
operating cash flow forecast. Adjusted for these special and one-time
effects, operating cash flow was in line with the company's expectations
for the 2015 financial year.
The preliminary operating result of Capital Stage is subject to the audit
certificate of the auditors and the approval by the Supervisory Board. The
final financial and earnings figures for the 2015 financial year will be
published on 31 March 2016. At the same time, Capital Stage will issue the
guidance for the current financial year 2016.
The above figures only mirror the company's operating profitability and do
not reflect any IFRS-related valuation effects. In addition, the prior year
figures have been adjusted for the Financial Investments segment, which
Capital Stage sold in the 2015 financial year and whose earnings
contributions are no longer included in the performance indicators for the
2015 financial year.
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 more
than 570 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: [email protected]
23.03.2016 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and 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: [email protected]
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 Announcement DGAP News-Service
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