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DGAP-News: Capital Stage AG / Key word(s): 9-month figures Significant increase in revenues and profit after nine months

29.11.2013 / 11:31

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* Revenues increase by more than 25 per cent year-on-year * EBITDA and EBIT rise significantly more than proportionally * Further investments expected during the next months

Hamburg, 29 November 2013. Capital Stage group, Hamburg, has significantly improved its revenues and profit indicators also in the third quarter. In the nine-month report, which is now available on the group's website, the company discloses revenues of 45.9 million euros, an increase by 25.7 per cent compared to previous year's period (previous year: 36.5 million euros). Other income amounting to 11.7 million euros were about at previous year's level (previous year: 12.0 million euros).

Earnings before interests, taxes, depreciations and amortisations (EBITDA) rose more than proportionally by 63.8 per cent to 42.8 million euros (previous year: 26.2 million euros). Based on the earnings before interests and taxes (EBIT) the increase results to 70.4 per cent to 29.2 million euros (previous year: 17.1 million euros). Taking into account taxes and interests, a strongly improved profit for the year of 15.4 million euros remains (previous year: 9.1 million euros). This represents a gain by 69.2 per cent. The undiluted earnings per share is 0.28 euros (previous year: 0.19 euros).

In total, the group added more than 50 million euros to fixed assets during the first nine months of the financial year 2013 through the acquisition of further PV projects. In the context of a capital increase implemented after the end of the reporting period Capital Stage received gross proceeds of 49.3 million euros, which are available for further investments.

Felix Goedhart, CEO of Capital Stage AG, comments: 'Currently we are examining numerous interesting projects from our core business segments solar and wind and expect to be able to expand our business during the next months again in a significant way.'

Based on the successful course of the business so far, the management board had recently raised the earnings forecast: For the full year, the company expects an increase of the EBITDA to more than 48 million euros and of the EBIT to more than 30 million euros.

About Capital Stage AG: Since 2009, Capital Stage has acquired solar power plants and wind parks in Germany and Northern Italy with a capacity totaling to around 200 MWp, making it Germany's largest operator of solar farms. Its solar and wind parks generate attractive returns and continuous revenues, while offering a moderate level of investment risk.

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PRESS RELEASE: Significant increase in revenues and profit after nine months