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Encavis AG Financial Results FY 2023 | Future Growth Plans Unveiled with CFO


Encavis AG FY 2023: Key Takeaways

Encavis AG: Surpassing Financial Forecasts and Embarking on a Strategic Growth Journey

In a compelling presentation, Dr. Christoph Husmann, Encavis AG’s CFO, unveils the company’s remarkable financial performance for the fiscal year 2023 and outlines its visionary growth strategy for the future. This detailed account gives investors critical insights into the company’s operational successes, challenges, and strategic partnerships to accelerate its presence in the renewable energy sector.


Exceeding Expectations Amidst Challenges

Despite facing weaker meteorological conditions in the first half of 2023, Encavis AG successfully increased its energy production to approximately 3,354 gigawatt hours (GWh), a 7% rise from the previous year. The acquisition of projects and project rights for about 550 megawatts (MW) underscored the company’s dedication to exceeding its electricity production targets.

However, operating cash flow was impacted by non-recurring effects, leading to a total of EUR 234.9 million, reflecting the volatility in electricity prices and higher tax payments. Despite these hurdles, Encavis AG’s robust business model ensured all financial key figures for 2023 surpassed the guidance, showcasing the resilience and strategic foresight of the company’s management team.


Strategic Partnerships for Accelerated Growth

A landmark strategic partnership with Blitz 21-823 AG (BidCo), controlled by KKR and including Viessmann as a shareholder, marks a pivotal moment for Encavis AG. This alliance aims to fortify Encavis’ position as a leading onshore wind and solar platform in Europe, emphasising the company’s commitment to accelerating growth across all segments.

Dr Husmann shared ambitious plans to connect 7 GW of generation capacity to the grid by the end of 2027, surpassing the current target of 5.8 GW. This significant financial support from its partners will enhance Encavis’ project pipeline, increase capacities, and facilitate expansion into new markets, propelling the company into its next growth phase.


Looking Ahead: Modest Growth in 2024 with a Focus on Strategic Expansion

Encavis AG projects a modest overall increase in its KPIs for the 2024 financial year, aiming to offset the significant drop in electricity prices with further revenue growth from various sources. The anticipation of standard weather conditions and the existing portfolio as of March 2024 underpins these expectations, reflecting the company’s strategic approach to overcoming industry challenges.


Conclusion: A Testament to Strategic Resilience and Ambition

Dr Christoph Husmann’s presentation highlights Encavis AG’s financial resilience in a challenging year and sets the stage for an ambitious growth trajectory fueled by strategic partnerships. As Encavis AG continues to navigate the complexities of the renewable energy market, its commitment to exceeding financial targets and fostering strategic alliances positions the company for sustained growth and success in the years to come.

Investors and stakeholders are invited to follow Encavis AG’s journey as it leverages its strategic partnerships, innovative solutions, and operational excellence to redefine the future of renewable energy.

  • Acquisitions in 2023
  • 7% Total growth in energy production of Encavis AG
  • Operating EPS achieves last year’s level despite lower electricity prices in 2023
  • Revenue of existing portfolio
  • All KPIs besides operating Cash Flow surpassed guidance for FY 2023
  • Decline in operating CF
  • Significant decline in revenue from parks based on lower prices in combination with lower output
  • Slight growth of balance sheet
  • Assumptions for the Guidance 2024
  • Expected development of electricity price levels 2
  • Guidance 2024e dominated by significantly lower power prices again
  • Segment Guidance 2024e
  • We continue to stand by our disciplined and selective investment criteria
  • Our strategy aims to triple our connected capacity by 2027
husmann - Encavis AG Financial Results FY 2023 | Future Growth Plans Unveiled with CFO -%sitename%

Dr. Christoph Husmann
CFO | Encavis AG

peters - Encavis AG Financial Results FY 2023 | Future Growth Plans Unveiled with CFO -%sitename%

Joerg Peters
Head of Investor Relations | Encavis AG


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