Bremen/Germany, May 20, 2022 - Energiekontor AG held its 22nd Annual General Meeting (AGM) in digital form yesterday on May 19, 2022. At the AGM, the CEO of Energiekontor AG, Peter Szabo, explained the very successful financial year 2021 and gave a positive growth outlook for the coming years.
The key milestones of the successful FY21 year included the conclusion of sales agreements for seven wind farm projects in Germany and the UK as well as for two solar park projects in Germany with a generation capacity of over 100 MW.
The sale of two Scottish projects with a total generating capacity of over 60 MW also marked the successful start of the successive realization of the extensive Scottish project pipeline, which Energiekontor has built up and expanded in recent years.
With the commissioning and transfer of two wind farms with a total generation capacity of almost 50 MW to the company's own portfolio, the expansion of the Group-owned wind and solar parks was expanded as planned. Overall, the generation capacity in the company's own portfolio thus increased to almost 330 MW in FY21.
As published on 31 March 2022, Energiekontor AG achieved the best result in its more than 30-year company history in FY21 against the background of this positive business development. Sales amounted to some EUR 156.5 million (2020: EUR 146.6m) and total operating performance of around EUR 266.3 million (2020: EUR 165.1m). The result from ordinary activities (EBT) was subsequently increased by more than EUR 13 million to around EUR 44.9 million (2020: EUR 31.2m), which is even slightly above expectations. Consolidated earnings for the year reached EUR 36.2 million (2020: EUR 20.4m). Undiluted earnings per share increased to EUR 2.54 (2020: EUR 1.43). At the Annual General Meeting on 19 May 2022, the proposal by the Management Board and Supervisory Board to increase the dividend to EUR 0.90 (2020: EUR 0.80) was approved by a significant majority of shareholders.
In his speech, the CEO also referred to the current FY22, in which the company had made a good start. In this context, Szabo pointed out that challenges and uncertainties do exist and are related to the war in Ukraine and the ongoing corona pandemic. He explained the measures taken by the company in this context and the strategy of the company for the coming years.
Delays in transport and constraints in supply chains, as well as longer delivery times by manufacturers, could make it difficult for some projects to be commissioned by the end of 2022. Energiekontor therefore plans to realize a large part of Group-sales in 2022 on the basis of a adjusted transaction structure in which ready-to-build project rights and construction management services will be sold to investors in separate contract packages. Energiekontor was already able to successfully market the first projects with a corresponding transaction structure in FY21.
The basis for sustainable company growth will continue to be the ability to expand the Group's own wind and solar parks. The steady income from the sale of electricity, together with the income from the operational and technical management, ensures a high degree of financial stability of the company. For future growth, Energiekontor is therefore pursuing the following key strategic directions: the systematic expansion of the company's own portfolio by transferring about 50% of the realized projects into the company's own portfolio, the consistent continuation of the regional approach for the development of priority regions as well as the securing of projects, the further expansion and development of the present country markets, the expansion of solar as an equivalent business segment and the further development of innovation and efficiency measures that will make it possible to realize projects in all country markets without any state funding.
In principle, the regulatory environment in Germany and in all country markets in which Energiekontor will become more favorable in the coming years. With the war in Ukraine, achieving energy sovereignty in the coming years has become a matter of national and European security. This means nothing less than the radical restructuring of the energy generation and supply market with renewable energies as the central pillar of a new energy system. Accordingly, tender volumes are to be significantly increased in the coming years, more areas will be made available for new installments and planning and approval procedures accelerated.
As already announced, the Management Board of Energiekontor AG aims at an earnings growth of 10−20 percent for FY22 compared to the previous year. Further growth and an increase in earnings are also expected for the following financial year.
About Energiekontor AG
A solid business policy and a lot of experience in renewable energies: This is what Energiekontor has stood for over 30 years. Founded in Bremerhaven in 1990, the Company is one of the pioneers in the 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 farms in Germany and abroad and was expanded in 2010 to include solar energy. In addition, Energiekontor operates wind and solar farms with a nominal output of around 330 megawatts in its own portfolio. Energiekontor AG also aims to play a pioneering role in economic terms and to realise the first wind and solar parks in all target markets at market prices as quickly as possible, independently of state subsidies.
In addition to its headquarters in Bremen, Energiekontor has offices in Bremerhaven, Hagen im Bremischen, Aachen, Augsburg, Bernau near Berlin, Potsdam, Berlin-Spandau and Hildesheim. The Company also has offices in England (Leeds), Scotland (Edinburgh, Glasgow), Portugal (Lisbon), USA (Houston/Texas and Rapid City/South Dakota) and France (Toulouse, Rouen). The proud record of accomplishment since the Company was founded: 131 realised wind farms and 13 solar farms with a total output of well over 1 gigawatt. This corresponds to an investment volume of approx. EUR 1.8 billion. The Company went public on 25 May 2000. The Energiekontor AG share (WKN 531350 / ISIN DE0005313506) is listed in the General Standard of the German Stock Exchange in Frankfurt and can be traded on all German stock exchanges.
Contact
Energiekontor AG
Till Giessmann
T: +49 421 3304-126
till.giessmann@energiekontor.de