Encavis AG Financial Results H1 2023 | Stable Growth Amid Market Turbulence with CFO

Encavis AG, one of the prominent listed IPPs for renewables, recently held a pivotal presentation on their Q2 2023 figures, hosted by CFO and CEO spokesperson Christoph Husmann.

Despite facing a backdrop of market uncertainties, Encavis displayed resilience, showing stable revenues and consistent earnings per share during the first half of 2023. Husmann offers a comprehensive comparison with 2022 – a year marked by the "coin war", which caused unexpected price variances and unusual meteorological positives. He underscores that while the year-to-year comparison between 2022 and 2023 can be made, the latter year offers a more normalized outlook. This 'normalized' perspective allows stakeholders to appreciate Encavis' upward trajectory. In raw numbers, this amounts to a growth of 40%, catapulting their revenues from 162 million euros in the first half of 2021 to a staggering 226 million euros in the first half of 2023.

The presentation isn't limited to mere revenue numbers. Husmann also throws light on the company's diversified energy portfolio. Solar farms, for instance, have been a mainstay, contributing to a significant 68% of their revenues. The normalization of this year brought the returns from solar parks to an impressive 76% margin, a slight tweak from the 79% observed in the previous year, primarily attributed to favourable meteorological conditions and high energy power finances.

Encavis' strategic acquisitions and partnerships also make headlines in this presentation. The addition of Stern Energy stands out as an operator specializing in managing, maintaining, and constructing PV systems. Stern Energy's robust growth trajectory is evident. They contain an expansive 520 parks with a capacity of 1.4 gigawatts. What's notable is the company's global footprint, operating energy parks in countries like Italy, Germany, the UK, Netherlands, and their latest addition, France.
Despite a turbulent market backdrop and a few unexpected challenges, Encavis remains optimistic. Husmann wraps up the presentation by confirming the company's guidance for 2023. He projects net revenues of over 440 million euros, ABDA of over 310 million euros, and an EPS exceeding 60 euros cents.

This presentation is a testament to Encavis AG's consistent growth, adaptability, and unwavering commitment to its vision, even in uncertain market conditions.


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00:00 ENCAVIS
00:29 Stable revenue and table EPS show the resilience of ENCAVIS' business model despite negative meteorological effects in Q2 2023
03:18 ENCAVIS Analytics' Consensus on the six corporate KPIs for Q2/6M 2023e and FY 2023e as of 8th August 2023
03:40 Continuously high margins in major operating business segments in H1 2023
06:23 Assumptions for Guidance 2023
07:14 Development of electricity price levels 2023 versus 2022
07:51 Guidance dominated by significantly lower power prices and full-year effect of Stern Energy at PV Services with lower margin



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