Encavis boosts profits by 5 percent in the initial nine months of 2020

• In the very first 9 months of 2020, German solar as well as wind power plant operator Encavis AG accomplished a year-on-year boost in sales of around five percent to EUR234.3 million ($277 million).

The company had actually benefited from the constantly growing profile of generation capacities in wind and also solar plants along with from positive atmospheric effects, such as the purchase of a number of wind farms in Denmark in 2019.

Incomes before rate of interest, tax obligations, devaluation and also amortization (operating EBITDA) of EUR181 million were EUR4.8 million less than in the previous year. One factor for the absolute decline is the negative meteorological effect of minus EUR5.8 million.

Furthermore, the previous year's number consisted of a favorable earnings payment of around EUR5.9 million from the sale of minority passions in a wind farm profile, while the first 9 months of 2020 just consist of the earnings from the sale of a wind farm for EUR1.9 million.

Net income amounts to EUR26 million (9M 2019: EUR41 million).

The significant "La Cabrera" project in Spain with a capability of about 200 MW has actually been completed, and also the "Talayuela" solar park (300 MW) will certainly additionally be attached to the grid on time this year.

The Executive Board confirms the sales and also incomes projection for the existing fiscal year 2020 and expects sales profits to increase to over EUR280 million euros (2019: EUR273.8 million.