Encavis AG Revises Financial Forecast Amid Declining Performance

Hamburg, November 8, 2024 – Encavis AG, a notable SDAX-listed wind and solar park operator, disclosed that its financial performance for the first three quarters of 2024 fell short of expectations, prompting a revision of its annual forecast. Despite a marginal increase in electricity production to 2,677 GWh from 2,673 GWh the previous year, the company experienced a significant 10% decline in net operating revenue, totaling EUR 321.6 million.

The operating adjusted EBITDA and EBIT saw reductions of 18% and 31% respectively. This downturn led to a lowered guidance with revenue now projected at EUR 425 million and EBITDA between EUR 260-270 million, a notable decrease from earlier predictions. Operating cash flow also faced a 7% decrease, now standing at EUR 171.2 million.

These revised financial targets underscore Encavis AG's challenges in meeting initial expectations and adapting its strategies moving forward.