Encavis aims 2021 to enhance sales by ten percent

Mar 24, 2021 02:19 PM ET
  • Hamburg-based solar and also wind power plant operator Encavis AG reports earnings development of EUR18.5 million to EUR292.3 million ($347 million) in 2020, up from EUR273.8 million in the previous year.

Since December 31, 2020's solar portfolio included a total of 166 solar parks with a complete mounted capacity of over 1.3 GW. The plants lie in Germany, Italy, France, the United Kingdom, the Netherlands and also Spain. The solar parks created 67 percent of incomes last year. Nonetheless, their profits were EUR1.6 million listed below the previous year, which, according to the firm, had been "characterized by particularly favorable meteorological conditions". The amount of electrical energy fed right into the grid from the group's own solar parks amounted to simply under 1.05 GWh in fiscal 2020 (previous year: 0.9 GWh). Of the power fed right into the grid, 27 percent was created by solar parks in Germany (previous year: 29 percent), adhered to by France, Italy, the UK, the Netherlands and, for the first time, Spain (6 percent).

Running revenues prior to passion, taxes, depreciation as well as amortization (EBITDA) raised by around 3 percent year-on-year to EUR224.8 million (2019: EUR217.6 million). This boost was based on the development of the portfolio and earnings from the sale of minority interests in 3 wind farms in Austria. Consolidated net income was EUR62.5 million ($74.3 million), compared to minus EUR44.4 million in the previous year.

Partially due to the very first full-year contribution to sales as well as incomes from both large Spanish solar projects, the Management Board expects sales to enhance by nearly ten percent to greater than EUR320 million in the existing 2021. "To apply our development targets, we are focusing on commercial consumers with lasting power purchase contracts," claimed Encavis CEO Dierk Paskert. A different division will certainly be offered for this purpose beginning this year.

Encavis runs solar parks as well as wind farms in ten European countries. The overall generation ability is presently around 2.8 GW.

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