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31.05.2016 08:49:21
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DGAP-News: CHORUS Clean Energy AG
DGAP-News: CHORUS Clean Energy AG reports results for the first quarter of 2016 and confirms positive outlook for the fiscal year
- Group revenue of EUR 10.1 million achieved
- Positive outlook for 2016 confirmed
Neubiberg/Munich, May 31, 2016 - CHORUS Clean Energy AG ("CHORUS") based in Neubiberg near Munich, a company specializing in the operation of solar and wind parks, generated revenue of EUR 10.1 million in the first quarter of 2016 (Q1 2015: EUR 12.4 million). The decline is mainly due to a drop in solar radiation compared to the first quarter of 2015. These production fluctuations are, however, within the normal meteorological range and should balance out over a longer period.
Revenue from the wind segment increased nearly 50 percent to more than EUR 2.5 million. Due to the previously mentioned decline in solar radiation, revenue in the solar segment was almost 15 percent lower than in the first quarter of 2015 and amounted to EUR 7.2 million. In the Asset Management segment, revenue from the ongoing management of renewable energy assets increased compared to the first quarter of 2015 and amounted to EUR 0.9 million. However, significant revenue was recognized in the previous year stemming from project acquisitions for Asset Management customers and these were yet not replicated in the current reporting period.
During the reporting period, CHORUS generated earnings before interest, taxes, depreciation and amortizations (EBITDA) of EUR 7.1 million after EUR 7.8 million in the prior-year quarter. The EBITDA margin thereby increased by roughly seven percentage points to 70.3 percent.
"Despite the unsatisfactory weather conditions, we are pleased with the operative development of the first quarter and continue to view the remainder of the year with confidence. In May, we acquired an additional wind park in Germany and are currently involved in several promising negotiations on the potential purchase of further parks both in Germany and abroad. More than EUR 70 million in liquid funds is available for the continued realization of our expansion strategy," says CEO Holger Götze.
As of the reporting date March 31, 2016, equity for CHORUS amounted to EUR 228.9 million (March 31, 2015: EUR 230.3 million). The Company continues to have a solid equity ratio of 35.3 percent.
The Management Board confirms its outlook for the current fiscal year 2016. Its focus remains on further strengthening CHORUS as a comprehensive asset management service provider for institutional investors and expanding its portfolio of solar and wind parks through new acquisitions.
The interim report for the first quarter of 2016 is available for download on the company's website at http://www.chorus.de/en/investor-relations/ publications/.
About CHORUS CHORUS Group was founded in 1998 and operates 76 solar and wind parks with a capacity of more than 335 megawatts in five European countries. With a broadly diversified portfolio, the company generates stable, predictable, and sustainable returns. For professional investors, CHORUS offers investment opportunities in renewable energy plants. CHORUS Clean Energy AG covers the entire investment cycle - from asset sourcing through financial and legal due diligence and monitoring up to divestiture.
Contact Us:
Stephan Castenholz (Investor Relations) CHORUS Clean Energy AG Tel. +49-89-442-3060-0 Fax +49-89-442-3060-11 E-mail IR@chorus.de
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31.05.2016 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.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
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Language: English Company: CHORUS Clean Energy AG Prof.-Messerschmitt-Straße 3 85579 Neubiberg / Munich Germany Phone: +49 (0)89 442 30 60 - 0 Fax: +49 (0)89 442 30 60 - 11 E-mail: info@chorus.de Internet: www.chorus-gruppe.de ISIN: DE000A12UL56 WKN: A12UL5 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange End of News DGAP News Service ---------------------------------------------------------------------------
467685 31.05.2016
DGAP-News: CHORUS Clean Energy AG / Key word(s): Quarter Results
CHORUS Clean Energy AG reports results for the first quarter of 2016 and
confirms positive outlook for the fiscal year
31.05.2016 / 08:49
The issuer is solely responsible for the content of this announcement.
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PRESS RELEASE
CHORUS Clean Energy AG reports results for the first quarter of 2016 and
confirms positive outlook for the fiscal year
- Group revenue of EUR 10.1 million achieved
- Positive outlook for 2016 confirmed
Neubiberg/Munich, May 31, 2016 - CHORUS Clean Energy AG ("CHORUS") based in Neubiberg near Munich, a company specializing in the operation of solar and wind parks, generated revenue of EUR 10.1 million in the first quarter of 2016 (Q1 2015: EUR 12.4 million). The decline is mainly due to a drop in solar radiation compared to the first quarter of 2015. These production fluctuations are, however, within the normal meteorological range and should balance out over a longer period.
Revenue from the wind segment increased nearly 50 percent to more than EUR 2.5 million. Due to the previously mentioned decline in solar radiation, revenue in the solar segment was almost 15 percent lower than in the first quarter of 2015 and amounted to EUR 7.2 million. In the Asset Management segment, revenue from the ongoing management of renewable energy assets increased compared to the first quarter of 2015 and amounted to EUR 0.9 million. However, significant revenue was recognized in the previous year stemming from project acquisitions for Asset Management customers and these were yet not replicated in the current reporting period.
During the reporting period, CHORUS generated earnings before interest, taxes, depreciation and amortizations (EBITDA) of EUR 7.1 million after EUR 7.8 million in the prior-year quarter. The EBITDA margin thereby increased by roughly seven percentage points to 70.3 percent.
"Despite the unsatisfactory weather conditions, we are pleased with the operative development of the first quarter and continue to view the remainder of the year with confidence. In May, we acquired an additional wind park in Germany and are currently involved in several promising negotiations on the potential purchase of further parks both in Germany and abroad. More than EUR 70 million in liquid funds is available for the continued realization of our expansion strategy," says CEO Holger Götze.
As of the reporting date March 31, 2016, equity for CHORUS amounted to EUR 228.9 million (March 31, 2015: EUR 230.3 million). The Company continues to have a solid equity ratio of 35.3 percent.
The Management Board confirms its outlook for the current fiscal year 2016. Its focus remains on further strengthening CHORUS as a comprehensive asset management service provider for institutional investors and expanding its portfolio of solar and wind parks through new acquisitions.
The interim report for the first quarter of 2016 is available for download on the company's website at http://www.chorus.de/en/investor-relations/ publications/.
About CHORUS CHORUS Group was founded in 1998 and operates 76 solar and wind parks with a capacity of more than 335 megawatts in five European countries. With a broadly diversified portfolio, the company generates stable, predictable, and sustainable returns. For professional investors, CHORUS offers investment opportunities in renewable energy plants. CHORUS Clean Energy AG covers the entire investment cycle - from asset sourcing through financial and legal due diligence and monitoring up to divestiture.
Contact Us:
Stephan Castenholz (Investor Relations) CHORUS Clean Energy AG Tel. +49-89-442-3060-0 Fax +49-89-442-3060-11 E-mail IR@chorus.de
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31.05.2016 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.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
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Language: English Company: CHORUS Clean Energy AG Prof.-Messerschmitt-Straße 3 85579 Neubiberg / Munich Germany Phone: +49 (0)89 442 30 60 - 0 Fax: +49 (0)89 442 30 60 - 11 E-mail: info@chorus.de Internet: www.chorus-gruppe.de ISIN: DE000A12UL56 WKN: A12UL5 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange End of News DGAP News Service ---------------------------------------------------------------------------
467685 31.05.2016
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