ENCAVIS AG

Earnings Release • Nov 19, 2015

News Details

Ad-hoc | 19 November 2015 19:24

Capital Stage AG increases guidance for 2015 in view of strong nine-month figures

Capital Stage AG / Key word(s): 9-month figures/9-month figures

19.11.2015 19:24

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
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The issuer is solely responsible for the content of this announcement.

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Capital Stage AG increases guidance for 2015 in view of strong nine-month
figures: Sales revenues, EBITDA and EBIT to increase by over 50 percent
each / EBIT margin climbs to 56.7 percent (9M 2014: 55.2%) / Earnings
forecast for 2015 raised

Hamburg, 19 November 2015 - The Hamburg-based and SDAX-listed operator of
solar and wind parks has raised its earnings forecast for financial year
2015 due to the positive performance in the first nine months of the year.
At the same time, the company announced the sale of its financial
investment Helvetic Energy GmbH, Switzerland. The sale marks the closure of
Capital Stage's financial investments segment and the company will
exclusively focus on its successful core business. The figures presented by
Capital Stage for the first nine months of 2015 (including the comparative
figures of the previous year) and the earnings forecast for 2015 are
exclusive of income effects made by Helvetic Energy.

In the first nine months of 2015, Capital Stage increased its revenues by
over 50 percent to EUR 94.4 million compared to the same period of the
previous year (9M 2014: EUR 60.8 million). Operating earnings before
interest, taxes, depreciation and amortisation (EBITDA) rose from EUR 48.3
million to EUR 76.3 million (+58%). Operating earnings before interest and
taxes (EBIT) came in at EUR 53.5 million (9M 2014: EUR 33.5 million; +60%).
Operating cash flow for the period amounted to EUR 53.7 million (9M 2014:
EUR 42.4 million).

The above figures exclusively reflect the company's operating profitability
and do not include any IFRS-related valuation effects. Neither do they
reflect any income effect from Helvetic Energy.

Guidance for FY 2015 raised
On the background of the positive performance in the first nine months,
Capital Stage raised its guidance for the financial year 2015. The previous
guidance dated 23 July 2015 was initially adjusted for the sale of Helvetic
Energy, which had been expected to contribute approx. EUR 7.5 million to
the company's full-year revenues. No further earnings figures were
adjusted, as no contribution to earnings had been planned for Helvetic
Energy for the reporting period. In connection with this, no further
adjustment of other earning figures had to be made.

Against this adjusted forecast, the Management Board of Capital Stage AG
now expects revenues for the full financial year 2015 to increase to over
EUR 110 million (previous adjusted forecast: EUR 107.5 million). Operating
earnings before interest, taxes, depreciation and amortisation (operating
EBITDA) are expected to climb to over EUR 86 million (previously EUR 80
million). Operating earnings before interest and taxes (operatives EBIT)
are projected to increase to over EUR 52 million (previously EUR 48
million). Operating cash flow is expected to come in at over EUR 81 million
(previously EUR 79 million).

The adjusted earnings forecast of Capital Stage AG is based on the existing
portfolio as of 17 November 2015. The company is currently analysing
further options for acquisitions and is very confident that it will have
fully invested the funds provided by Gothaer Versicherungen as part of the
strategic partnership in the course of the first quarter of 2016 at the
latest. Additional liquidity for investments is available at Group level.

The full nine-months report of Capital Stage AG will be published on 30
November 2015. The report is available on the company's website
www.capitalstage.com within the Investor Relations section.

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 550 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 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
Phone: + 49 (0)40 37 85 62-242
Fax: + 49 (0)40 37 85 62-129
e-mail: till.giessmann@capitalstage.com

19.11.2015 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English
Company: Capital Stage AG
Große Elbstraße 45
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 Announcement DGAP News-Service

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