Encavis AG Announces Lower Preliminary Results for H1 2024

Hamburg, 30th July 2024 – Encavis AG, an MDAX-listed wind and solar park operator, has published preliminary key performance indicators for the first half of 2024. These figures, which exclude the costs of the Elbe/KKR project, show a decline compared to the same period last year.

Electricity production decreased by around 4.5%, amounting to approximately 1,656 GWh, down from 1,734 GWh the previous year. Operating net revenue saw a decline of around 9%, or EUR -20.5 million, resulting in approximately EUR 205.7 million compared to EUR 226.2 million last year.

Adjusted operating EBITDA fell by approximately 17%, amounting to EUR 126.1 million, a decrease of EUR -25.6 million from last year's EUR 151.6 million. Adjusted operating EBIT showed a more significant drop of around 30%, down to EUR 65.3 million from EUR 93.5 million, reflecting a decrease of EUR -28.2 million.

Additionally, operating cash flow decreased by around 15%, amounting to approximately EUR 96.0 million, a reduction of EUR -17.5 million from the previous year's EUR 113.5 million. Adjusted earnings figures are detailed in the Annual Report 2023 of Encavis AG, available on their website.