aventron increases earnings per share and plans capital raise to finance further expansion

Revenues in the financial year of 2019 were up by 12% and earnings per share grew disproportionally to CHF 0.30 per share. aventron proposes to the general assembly a capital increase of maximum CHF 62 million at an issue price of CHF 10.50 per share.

In the past financial year revenues grew by 12% to CHF 102.5 (previous year 91.8) million. First time full-year contribution of new wind parks acquired or contributed-in-kind in 2018 in Germany and Spain were the main contributors to this growth combined with further acquisitions in the Solar PV segment Switzerland. aventron increased EBIT disproportionately by 15% to CHF 32.4 (PY 28.2) million. Project development activities, operating improvements and a well-diversified production led to a net income of CHF 13.0 (PY 10.2) million. The earnings per share (eps) grew to CHF 0.30 per share. These results once more underline the profitability of aventron’s business model. The company succeeded in improving earnings per share despite the dilution effects of past capital raises. By the end of 2019 the portfolio consisted of 545 (PY 486) MW installed capacity. The wind segment delivered 57% of the revenues. 28% stemmed from the solar PV segment and 15% from the hydro segment.

Proposed dividend 4.0% higher

aventron would like its shareholders to participate in these positive results. The Board of Directors thus proposes to the General Meeting to increase the dividend by 4.0% to CHF 0.26 (PY 0.25) per share. The Annual General Meeting of aventron AG will take place on 16 April 2020.

In 2019 aventron invested CHF 46.2 million in the acquisition of existing power plants and in the construction of its own generating capacity. The balance sheet per year end amounts to CHF 743.8 (PY 748.8) million. By the end of 2019 the aventron group held liquid assets totaling CHF 69.1 (PY 66.8) million. Through various optimisations debt services evolved positively.

Additional capital increase is planned

At the Annual General Assembly 2020 aventron will seek approval for an additional capital increase consisting of a volume of up to 6.2 million shares. This corresponds to an increase in equity of up to CHF 65 million. The registered shares will be issued at an issue price of CHF 10.50 per share. The planned capital increase is intended to generate additional funds for investments in a diversified portfolio in all the countries in which aventron is active. The intermediate target is to reach a portfolio size of 750 MW by 2023.