Management Reports • Sep 29, 2014
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Corporate | 29 September 2014 12:49
COLEXON Energy AG: The new group targets annual growth in Cash Flow Per Share of at least 20% per year
COLEXON Energy AG / Key word(s): Forecast
29.09.2014 / 12:49
Hamburg, 29.09.2014 – Following the business combination between Colexon Energy AG and 7C Solarparken NV, the new group is presenting to the financial community the outlook and objectives of the new company for the period 2014-’16. The presentation can be accessed on http://colexon.de/content/en/050_investor_relations/040_publications/020_presentations.php and contains the following key messages:
– As a pure play owner-operator of PV assets in Germany, the new Colexon Energy AG is stressing the relevance of shareholder value and cash flows rather than megawatts, and accordingly defines its new targets in “Cash Flow Per Share (CFPS)”. Management is emphasizing maximum cost rationalisation, better PV plant efficiency and selective growth in IPP and PV Estate to reach a CFPS of EUR 0.40 by 2016. The new group sees economic EBITDA rising to EUR 20mio (*) by 2016 while net economic debt should drop below EUR 115mio.
– The majority of the growth in cash flow will come from a sustainable EUR 2mio cost-reduction program and a performance-driven management of existing parks. Internal optimisation gains evidently mirror management’s priority as they add substantial EBITDA for minimal capital intensity.
– New capacity growth will be highly selective and must fulfil strict investment discipline offering returns of at least returns 250bps above new-build IRR. The existing pipeline will be progressively executed as soon as the internal optimisation work is achieved.
– Further development of PV Estate assets is envisaged as the current platform already encompasses 60ha of ground and buildings, and offers stable cash flows aside from long-life value.
(*): assuming a normal year of irradiation. Given a 5% standard deviation on irradiation level, EBITDA is anticipated in the range EUR 19-21mio.
Upcoming dates
18. November 2014 Publication of Interim Management Statement during the 2nd half year
Contact:
COLEXON Energy AG
Große Elbstr. 43
22767 Hamburg
Deutschland
FON: +49 (0)40. 28 00 31-100
FAX: +49 (0)40. 28 00 31-102
EMAIL: [email protected]
www.colexon.de
29.09.2014 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.
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| Language: | English |
| Company: | COLEXON Energy AG |
| Große Elbstraße 43 | |
| 22767 Hamburg | |
| Germany | |
| Phone: | +49(0)40 280031 100 |
| Fax: | +49(0)40 280031 102 |
| E-mail: | [email protected] |
| Internet: | www.colexon.de |
| ISIN: | DE000A11QW68 |
| WKN: | A11QW6 |
| Listed: | Regulierter Markt in Frankfurt (General Standard); Freiverkehr in Berlin, Düsseldorf, München, Stuttgart |
| End of News | DGAP News-Service |
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| 289189 29.09.2014 |
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