DGAP-News: Capital Stage AG

DGAP-News: Capital Stage AG: Audited annual financial statements for FY2015 / Dividend increase to EUR 0.18 (+20% yoy) / Further growth in earnings expected for FY2016

DGAP-News: Capital Stage AG / Key word(s): Final Results/Final Results Capital Stage AG: Audited annual financial statements for FY2015 / Dividend increase to EUR 0.18 (+20% yoy) / Further growth in earnings expected for FY2016

31.03.2016 / 17:55 The issuer is solely responsible for the content of this announcement.

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Hamburg, 31 March 2016 - Capital Stage AG, the SDAX-listed solar and wind park operator based in Hamburg, today will publish its audited annual financial statements and consolidated financial statements. The accounts will confirm the preliminary operating performance indicators for the FY2015 announced on 23 March 2016. Revenues, operating earnings before interest, taxes, depreciation and amortization (EBITDA) as well as operating earnings before interest and taxes (EBIT) were all up by more than 55% on the previous year.

Against the background of the positive development of the company's operating earnings and liquidity, the Management Board and the Supervisory Board have proposed to raise the dividend for the FY2015 to EUR 0.18 per voting share (+20%; yoy). The dividend is again to be offered as an optional dividend to shareholders. The dividend increase is subject to approval by the Annual General Meeting to be held in Hamburg on 25 May 2016.

The Management Board of Capital Stage AG expects operating earnings to continue to grow in FY2016. The company projects an increase in revenues to over EUR 130 million (2015: EUR 112.8m). Operating earnings before interest, taxes, depreciation and amortization (EBITDA) are expected to reach more than EUR 100 million (2015: EUR 86.8m). Earnings before interest and taxes (EBIT) are forecast to exceed EUR 60 million in the current financial year (2015: EUR 55.4m), with operating cash flow expected to increase to over EUR 93 million (2015: EUR 74.5m). The forecast of Capital Stage AG is based on the portfolio existing on 31 March 2016 without reflecting any additional investments made in the further course of 2016.

Capital Stage AG has an attractive, well-filled project pipeline. In a bidding round for new ground-mounted photovoltaic systems in France, the company has already secured an attractive project pipeline of more than 60 MW in cooperation with a local partner. The financing of the French project pipeline has already been secured by the successful and full placement of a loan note with a volume of more then EUR 23.0 million, an average interest rate of 2.32% and with periods of seven and ten years. In total, Capital Stage was able to secure further growth financing of some EUR 35 million in the first quarter of 2016. Additional measures for growth financing are currently being planned.

The Group's consolidated profit according to IFRS amounted to EUR 20.1 million in the FY2015 (2014: EUR 25.1m). The consolidated result was mainly influenced by non-cash valuation effects resulting from the application of IFRS. These included lower income from badwills (PPA; purchase price allocations) in connection with the acquisition of new solar and wind parks, which in total amount to EUR 10.7 million (2014: EUR 29.3m).

On March 10, 2016, the German Financial Reporting Enforcement Panel (Deutsche Prüfstelle für Rechnungslegung DPR) has closed an auditing process for the financial statements of Capital Stage for the financial year 2012. The auditing process had been ongoing since the year 2013. As a result, the amortization period of intangible assets from purchase price allocations (electricity feed-in contracts) had to be adjusted retroactively from thirty years to the respective remaining term of the legal subsidy period. The resulting valuation effects within the Group's earnings after taxes (EAT) totaled about EUR 2.0 million for the financial years 2010 to 2014 and to about EUR 3.0 million for the financial year 2015. With the DPR objections fully taken into account within the consolidated financial statements for FY2015, the DPR audit is formally completed.

The supervisory board and the management of Capital Stage decided to terminate the long-term business relations with the existing auditing company and to suggest to the upcoming AGM in May 2016 to mandate PwC for the financial audit of the current financial year.

Capital Stage AG will publish its audited annual financial statements and consolidated financial statements for the financial year 2015 within due time. It can be found on the company's website at www.capitalstage.com.

About Capital Stage AG: Since 2009, Capital Stage has acquired solar power plants and wind parks in Germany, France, Italy and the UK with a total generation capacity of more than 570 MW. As such, Capital Stage today is Germany's largest independent operator of solar parks and already has a generating capacity that is equivalent to more than half the output of a nuclear power plant. Capital Stage today also is Germany's largest independent operator of solar parks. The high quality of the existing portfolio in combination with an excellent O&M management generate attractive returns and stable revenues for Capital Stage, while offering only a moderate level of investment risk.

Capital Stage AG is listed in the regulated market (Prime Standard) of the Frankfurt Stock Exchange and in the regulated market of the Hanseatic Stock Exchange Hamburg (ISIN: DE0006095003 / WKN: 609500). The shares of Capital Stage AG have been listed in the Deutsche Börse Frankfurt a. M. selective index SDAX since March 2014.

For more information, visit www.capitalstage.com

Contact:

Capital Stage AG Till Gießmann Head of Investor & Public Relations Fon.: + 49 (0)40 37 85 62-242 Fax: + 49 (0)40 37 85 62-129 e-mail: till.giessmann@capitalstage.com

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31.03.2016 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.

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Language: English Company: Capital Stage AG Große Elbstraße 59 22767 Hamburg Germany Phone: +49 4037 85 62 -0 Fax: +49 4037 85 62 -129 E-mail: info@capitalstage.com Internet: www.capitalstage.com ISIN: DE0006095003 WKN: 609500 Indices: SDAX Listed: Regulated Market in Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart End of News DGAP News Service ---------------------------------------------------------------------------

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