PTA-News: 7C Solarparken AG: EBITDA up by 42% in Q1'19. Portfolio raised to 171 MWp.

Tuesday, 28. May 2019 07:50

Business news for the stock market

Bayreuth (pta009/28.05.2019/07:50) - · Driven by a 30% increase in installed capacity and improved weather conditions, the total output in Q1'19 rose by 48% to 25 GWh.

· EBITDA in Q1'19 rose +42% to EUR 6.15 Mio. versus last year's level (EUR 4.3 Mio). Aside from continuous capacity growth and positive weather effects, EBITDA also benefited from a EUR 0.6 Mio. settlement agreement with a module supplier and from the implementation of the new IFRS 16 standard (+EUR 0.2 Mio) that no longer treats lease payments as operational expenses.

· Guidance for the full-year 2019 (EBITDA at least EUR 35 Mio.) already assumes the strong Q1 results in full.

· The Q1'19 report is available in the Investor Relation section on our website.

Bayreuth, May, 28th 2019 - Over the last weeks, 7C Solarparken has further raised its portfolio from 167 MWp to 171 MWp. Firstly, 7C Solarparken extended its rooftop installation in Ludwigsfelde (Brandenburg) by another 750 kWp. The project has been built by Goldbeck Solar which installed Astronergy panels and Sungrow inverters. Secondly, a new rooftop installation of 0.6 MWp has been constructed in Plötzky (Sachsen Anhalt) with components from Eging and SMA. And thirdly, a new-build freefield park of 2 MWp has been connected to the grid in Schmidöd (Bayern) with Sunrise panels and Sungrow inverters. While the rooftop projects are granted a fixed feed-in tariff of approx. EUR 90/MWh, the installation in Schmidöd enjoys a tariff that stems from the auction process (FFAV) obtained during 2018. Further projects are currently under construction and acquisitions are in different stages of negotiation. Management remains confident to reach its 220 MWp target before the end of 2020.

(end)

emitter: 7C Solarparken AG
address: An der Feuerwache 15, 95445 Bayreuth
country: Germany
contact person: Koen Boriau
phone: +49 921 230557-77
e-mail: info@solarparken.com
website: www.solarparken.com

ISIN(s): DE000A11QW68 (share)
stock exchanges: regulated market in Frankfurt; free market in Stuttgart, free market in Munich, free market in Dusseldorf; open market in Berlin

[ source: http://www.pressetext.com/news/20190528009 ]

Related Links: 7C Solarparken AG
Author: