ENCAVIS AG

Earnings Release • Aug 29, 2014

News Details

Corporate | 29 August 2014 09:59

Capital Stage: Operational profitability significantly increased in the first half year

DGAP-News: Capital Stage AG / Key word(s): Half Year Results

29.08.2014 / 09:59

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Hamburg, 29 August 2014 - Today, Hamburg based solar and wind park operator
Capital Stage disclosed its report on the first half of the financial year
2014. The company generated revenues of 39.5 million euros (previous year:
26.2 million euros). This represents an increase by almost 51 per cent. The
group's earnings before interests, taxes, depreciations and amortisations
(EBITDA) according to IFRS improved to 43.0 million euros (previous year:
28.8 million euros). Included are other operating income amounting to 14.6
million euros (previous year: 11.5 million euros), which mainly derive from
the purchase price allocation according to IFRS 3 relating to the
acquisition of solar and wind parks.

The earnings before interests and taxes (EBIT) amounted to 30.6 million
euros (previous year: 20.1 million euros), an increase by around 52 per
cent. The earnings before taxes (EBT) grew disproportionately by 60 per
cent to 19.8 million euros (previous year: 12.4 million euros). By taking
into consideration the tax expenditure shown in the profit and loss
account, this leads to a group profit of 19.0 million euros (previous year:
11.1 million euros). This corresponds to earnings per share of 0.27 euros
(previous year: 0.21 euros).

Regarding the cash flow from operations, the company recorded a significant
rise: It increased by 219 per cent to 20.4 million euros (previous years'
period: 6.4 million euros). Funds from Operations (FFO) amounted to 18.5
million euros as of 30 June 2014 (previous year: 10.3 million euros) or
0.26 euros per share respectively (previous year: 0.20 per share).

Felix Goedhart, CEO of Capital Stage AG, expressed his satisfaction: "The
positive development of cash flow and FFO underlines, that the company's
operational profitability is increasing sustainably regardless of valuation
results or IFRS effects. We are well on track to achieve the full years'
targets set."

About Capital Stage AG:
Since 2009, Capital Stage has acquired solar power plants and wind parks in
Germany, France and Italy with a capacity totalling to around 316 MWp,
making it Germany's largest operator of solar parks. Its solar and wind
parks generate attractive returns and continuous revenues, while offering a
moderate level of investment risk.

Capital Stage AG is listed in the regulated market (Prime Standard) of the
Frankfurt Stock Exchange an in the regulated market of the Hanseatic Stock
Exchange Hamburg (ISIN: DE0006095003 / WKN: 609500). The shares of Capital
Stage AG have been included in the Deutsche Börse selective index SDAX in
March 2014.

For further information about the company, please visit
www.capitalstage.com

Contacts:

Thomas Schnorrenberg
Capital Stage AG
Tel.: + 49 (0)40 37 85 62-242
Fax: + 49 (0)40 37 85 62-129
E-Mail: thomas.schnorrenberg@capitalstage.com

Sebastian Bucher
Kirchhoff Consult AG
Tel.: + 49 (0)40 60 91 86-18
Fax: + 49 (0)40 60 91 86-60
E-Mail: sebastian.bucher@kirchhoff.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: Regulierter Markt in Frankfurt (Prime Standard), Hamburg;
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart

End of News DGAP News-Service

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