Encavis AG Reports Decline in Q3 2024 Results Amid Unexpected Challenges

SDAX-listed Encavis AG has reported lower financial results for the first three quarters of 2024, driven by unforeseen events. The company's net operating revenue decreased by 10% to EUR 321.6 million compared to the previous year. Operating EBITDA fell by 18% to EUR 201.3 million, and EBIT dropped by 31% to EUR 109.3 million.

Delays in project commissioning and adverse meteorological conditions mainly in Southern Europe, as well as lower electricity prices, contributed to the decline. Despite increased electricity production and growth in the Service segment, these factors could not offset the revenue shortfall. Consequently, Encavis has revised its financial guidance for 2024, expecting revenue of EUR 425 million, operating EBITDA between EUR 260-270 million, and EBIT within EUR 135-145 million range.