Energiekontor consequently drives forward 2023 to 2028 growth strategy and plans to sell several more projects by end of the year
Bremen, 14 November 2024 – Energiekontor AG (“Energiekontor”), a leading German project developer and operator of wind and solar parks based in Bremen and listed in the General Standard, recorded a planned operating performance in the first nine months of 2024 and successfully developed its project pipeline. Several projects are currently being marketed. The successful completion of the ongoing sales processes is decisive for the level of Group earnings in the 2024 financial year. The earnings range previously forecast for the 2024 financial year is still achievable from today's perspective, depending on sales success. The 2023 to 2028 growth strategy will continue to be pursued unchanged.
In the first nine months of 2024, Energiekontor sold a total of two projects with a total generation capacity of around 38 megawatts (2023 as a whole: 162 megawatts). Many projects in Germany and abroad are currently still being marketed and are expected to be successfully completed by the end of the year. These envisaged successful sales will determine the annual result (EBT) achieved by the project development and sales segment and therefore Group earnings (EBT) in the 2024 financial year.
Energiekontor commissioned a total of three projects with a total generation capacity of around 79 megawatts in the first three quarters of 2024 (2023 as a whole: 76 megawatts). After the reporting date, Energiekontor also commissioned the recently sold Pines Burn wind park (around 34 megawatts) and the Seukendorf solar park (around 12 megawatt peak). Energiekontor recently transferred the latter to its own portfolio, where it will now contribute to the earnings of the power generation segment. This increased the total nominal capacity of Group-owned parks to roughly 400 megawatts. An additional 220 megawatts are currently being constructed for Energiekontor’s own park portfolio, which is expected to increase total generation capacity to more than 610 megawatts in the future. The next commissionings are planned for the first quarter of 2025.
As at and after the reporting date, a total of 34 building permits had been issued for a total generation capacity exceeding one gigawatt (31 December 2023: 748 megawatts). These include the first two permits for two solar park projects in France with which Energiekontor participated in a tender procedure by the French Energy Regulatory Commission and was recently successfully awarded. In addition, Energiekontor is participating with a multitude of German projects in the Federal Network Agency’s EEG tender in November 2024.
“Renewable energies are currently facing a particular challenge. Our industry is under considerable pressure from longer project realisation times, delays in grid expansion, and a worsening or waning sentiment vis-à-vis renewable energy sources, despite advancing climate change. It is in times like these that our organic growth model proves its worth. It gives us long-term financial stability and security and minimises financing risks,” says Peter Szabo, CEO of Energiekontor AG. “Meanwhile, we have been able to make very good use of the first nine months of this financial year, not only to continue expanding our own portfolio, but also to further develop our project pipeline. We were able to advance many projects in the approval planning process. In addition, several projects are currently being marketed, which we intend to finalise this year. However, we do not expect to have a clearer picture of how sales are progressing until mid-December 2024. But I firmly believe that our patience and persistence will pay off.”
Further information on the operating performance in the first three quarters of 2024, current market challenges, and the outlook for the 2024 financial year can be found in the interim statement for the first nine months of 2024 at https://www.energiekontor.de/en/investor-relations/financial-reports.html.
About Energiekontor AG
For over 30 years, Energiekontor has stood for a solid business policy and extensive experience in renewable energies. Founded in Bremerhaven, Germany, in 1990, the company is among the pioneers in its industry and is now one of Germany’s leading project developers. Its core business ranges from the planning and construction to the operational management of wind and solar parks in Germany and abroad. In addition, Energiekontor operates 38 wind and solar parks with a nominal power of almost 400 megawatts in its own portfolio. Around 220 megawatts, which are also earmarked for the Group's own portfolio, are currently under construction. Energiekontor also plays a pioneering role in economic terms and aims to realise the first wind and solar parks in all target markets at market prices as quickly as possible, independently of state subsidies.
Along with its headquarters in Bremen, Germany, Energiekontor has offices in Bremerhaven, Hagen im Bremischen, Aachen, Augsburg, Berlin, Berlin-Spandau, Potsdam and Hildesheim. The company also has branch offices in England, Scotland, Portugal, France and the United States.
Since being established, Energiekontor has a proud track record of realising over 160 wind and solar park projects with a total nominal power of about 1.4 gigawatts. This corresponds to an investment volume of more than 2.0 billion euros. The significantly expanded project pipeline in the first half of 2024 (11.0 gigawatts excluding US project rights) shows the future growth potential and the possible contribution that Energiekontor can make to the expansion of renewable energies.
Energiekontor AG (WKN 531350/ISIN DE0005313506/General Standard) is listed on the SDAX and the TecDAX of the German Stock Exchange in Frankfurt. Shares can be traded on all German stock markets.
Contact
Julia Pschribülla
Head of Investor & Public Relations
Phone: +49 (0)421-3304-126
Kathrin Mateoschus
Investor & Public Relations Manager
Phone: +49 (0)421-3304-297
Email for investor relations matters: ir@energiekontor.com
Email for press matters: pr@energiekontor.com
Energiekontor AG
Mary-Somerville-Strasse 5
28359 Bremen
Germany
Phone: +49 (0)421 3304-0
Fax: +49 (0)421 3304-444
Email: info@energiekontor.de
Web: www.energiekontor.de
