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aventron records significant increases in revenue and net income in the first half of 2019

In the first half of 2019, aventron has produced 490 GWh of renewable energy and, in doing so, has generated a net income of CHF 8.5 million. Revenues and EBIT have improved by 17 respectively 23 percent compared to the previous year.

In the first half of 2019, aventron generated revenues from the supply of energy amounting to CHF 54.2 million (prev. year CHF 46.5 million) with an EBIT of CHF 19.2 million (prev. year CHF 15.6 million). The power plants purchased and commissioned in 2018 have made a significant contribution to the increase in revenue. These include, for example, wind parks in Germany, Norway and Spain. With its power plants in six countries, aventron has produced 490 GWh (prev. year 410 GWh) of renewable energy. As at the reporting date aventron operates in Europe a portfolio of 482 MW (prev. year 422 MW).

In relation to revenues, the EBITDA margin is slightly higher at 71.3 (70.2) percent and the EBIT margin at 35.1 (33.5) percent. The half-yearly net income came in at CHF 8.5 million (prev. year 6.4 million), which represents an increase by 34% from the previous year. The half yearly net income per share increased to 0.196 swiss francs per share (prev. year 0.187).

Following the positive half-year results, the Executive Board confirms its forecast for the full year 2019 with revenues of CHF 102 million and an EBIT margin of above 30 percent. With the start of construction of its 50 MW solar power plant in Spain and the 6.5 solar plant in Switzerland the 500 MW target for 2019 has been achieved. Based on the solid pipeline management is confident to achieve its 600 MW target for end of 2020. aventron will continue to grow in a diversified manner in water-, wind- and solar power in Switzerland, France, Germany, Italy, Spain and Norway.

aventron achieves financial close on 50 MW subsidy free solar plant in Spain

aventron signed financing agreements for the 50 MW Bargas solar plant and initiates construction phase on the 95 hectare project near Toledo, Spain. The project is a first of its kind, producing renewable energy without any subsidies nor feed-in tariff.

Financial close was achieved with Banco Sabadell for the debt financing of the Bargas 50 MW single axis tracker project located near Toledo. Tracking ensures the modules face the sun in an optimal angle increasing the energy production. Notice to proceed for construction was given to Solarpack Corporacion Tecnologica S.A., the EPC contractor for the project. After an expected nine month construction period, this subsidy free project will start to deliver 90 GWh of clean energy per annum to the grid.

This represents a major milestone for aventron, lifting its installed capacity well over 500 MW and strengthening its position in solar energy viewed as very complementary to its existing wind and hydro portfolio. aventron demonstrates  with this project that solar energy production without subsidies can be economically viable.

Dr. César Alcazar Santos, Head of aventron España SL comments “As a committed player in the European energy sector, we shape the future and make a significant contribution to renewable electricity production. After 3 years of intensive work and close collaboration with our local development partner we are proud to take this project into construction phase”.

Mr. Pablo Burgos, CEO of Solarpack stated that “this is a relevant milestone for Solarpack that shows the competitiveness of our development and construction business unit. We are pleased to work side by side with our client aventron on the construction of this project which reinforces our presence in the Spanish market, by moving 50 MW from “Pipeline” to “Backlog”.

aventron grows earnings and proposes higher dividends

In the past financial year 2018 revenues grew by 19% and earnings per share to 0.27 CHF per share. The portfolio reaches a capacity of 476 MW.

In the past financial year revenues grew by 19% to CHF 91,8 (previous year 77,1) million. Acquisitions in the wind segment Germany and the hydro segment Norway were the main contributors to this growth, combined with the contributions-in-kind of the capital increase 2018. aventron increased EBIT by 18% to CHF 28,2 (PY 23,9) million. Portfolio-growth, operating improvements and positive developments in the Euro-CHF exchange rate led to a net income of CHF 10,2 (PY 8,3) million. The earnings per share (eps) grew by 8,2% to CHF 0.27 per share, despite the dilution by the newly issued shares from the 2018 capital increase (number of shares increased from 34,1 to 43,7 million). These results once more underline the profitability of aventron’s business model.

Within one year the total assets rose to CHF 748,9 million (CHF 686,9 million). By the end of 2018 the aventron group held liquid assets totaling CHF 66,8 million (CHF 39,4 million).

The portfolio consists of 476 (PY 386) Megawatt installed capacity. The wind segment delivered 55,4% of the revenues. 30,5% stemmed from the solar PV segment and 14,1% from the hydro segment.

Proposed dividend 8,7% up

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 8,7% to CHF 0.25 per share. The Annual General Meeting of aventron AG will take place on 11 April 2019.

Reorganisation of the board of directors

The Board of Directors of aventron AG continues to evolve. With the consolidation of aventron into the EBM Group, the representations on the Board of Directors of aventron are adapted to the management structures of the controlling majority. Cédric Christmann (VRP), George Coelho and Werner Ulmer are no longer available for election. Conrad Ammann, Daniel von Moltke and Nicolas Wyss will now be proposed for election at the Annual General Meeting. Conrad Ammann is proposed as Chairman of the Board of Directors and Beat Huber as Chairman of the Audit and Compensation Committee, subject to their election to the Board of Directors.

Forecast revenues 2019 to reach 100 million swiss francs

For the financial year of 2019 the management is expecting a revenue increase of 11% to around CHF 102 million, assuming average weather conditions and a stable Euro, with a strong EBIT-margin of about 30%. Considering its existing pipeline for the 18 months the company assumes that it will reach its 600 MW target by 2020. In the medium term aventron is aiming at a portfolio size of 1’000 MW (1 GW). The portfolio will continue to grow in a balanced manner between solar, wind and hydro assets in selected countries

aventron continues dynamic growth with revenues for 2018 of CHF 92 Mio.

In the financial year 2018 aventron increased revenues by 19 percent to 91.8 Mio. CHF. The extension of the production portfolio and the strengthening of the power market prices were the main drivers.

aventron improved its annual results significantly through growth in production assets, stable Euro exchange rate and improvements in electricity market prices. Revenues from its power plants installed in six European countries led to an unaudited total revenue of 91.8 Mio. CHF (previous year 77.1 Mio. CHF), which amounts to an increase by 19%. The EBIT grew by 18% to 28.2 Mio. (23.9 Mio.). The operative cash flow increased disproportionally by 34% from 50.9 Mio. to 67.9 Mio. CHF in the reporting year. Hereby, the aventron business model proves its capacity to deliver robust and growing cash flows.

aventron expanded its portfolio of onshore wind, solar PV and small hydro by 90 MW in 2018 to reach a total capacity of 476 MW. The contribution-in-kind of the 42 MW Puerto Real wind park in the capital increase 2018 contributed to this growth besides continuous external acquisitions in various segments. With consideration of its project pipeline the company expects to reach its intermediate goal of 600 MW installed capacity by end of 2020.

Audited financial results will be published 21st of March 2019.

aventron renforce ses positions dans la production hydraulique en Europe

aventron confirme ses ambitions de croissance dans le domaine de la production hydraulique tout en cédant sa participation minoritaire dans le groupe familial français UNITe.

La production hydraulique a toujours été au coeur de la stratégie de développement du groupe aventron. Dans le cadre de sa politique de diversification, la société poursuit constamment son initiative de développement visant à accroître davantage la part d’hydroélectricité. Le portefeuille de centrales hydroélectriques réparties entre la Norvège, la France, la Suisse et l’Italie représentait fin 2017 une puissance cumulée de 74 MW pour 32 centrales. Fin 2018, la puissance cumulée atteignait déjà 105 MW pour 39 centrales si l’on compte les centrales en construction ou en phase de développement avancé. Ainsi, une nouvelle centrale de 1.4 MW fut mise en service fin 2018 en Italie sur la rivière Parma. En Norvège, de nombreux chantiers de constructions sont en cours dont celui de Kjerringnes d’une puissance installée de 9.3 MW, la plus grande centrale hydraulique du groupe. En Suisse des accords ont été signés pour la participation d’aventron dans la réalisation de la future centrale de Palanggenbach (2.8 MW) située dans le canton d’Uri. D’ici fin 2020, le groupe aventron devrait porter son portefeuille hydroélectrique dans les pays précités à environ 120 MW. Ainsi les énergies hydrauliques, éoliennes et solaires seront mieux équilibrées dans son portefeuille d’activités.

En France, le groupe aventron a cédé sa participation minoritaire dans le groupe familial français UNITe spécialisé dans les énergies renouvelables, pour mieux se recentrer sur la gestion en direct d’actifs de production détenus majoritairement. Dans cette optique, une équipe d’exploitation spécialisée dans la production hydraulique a été mise en place en France afin de gérer en interne l’exploitation du par cet de développer et acquérir de nouvelles capacités hydrauliques. L’objectif recherché est d’optimiser les performances du parc tout en renforçant les compétences internes.