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aventron generates over one Terawatt-hour of renewable energy and a net income of 13 million Swiss francs

aventron was able to maintain its margins despite low power market prices.

aventron generated in 2020 1’054 Gigawatt-hours of renewable energy and a revenue from the sales of energy of 103,7 (PY 102.5) million Swiss francs. The reduction in demand due to the COVID 19 pandemic and exceptional weather conditions in Norway put pressure on market prices and thus on the Group’s sales. At the same time, aventron commissioned new power plants. For example, the 50 Megawatt solar power plant Bargas in Spain, which was connected to the grid in June 2020, contributed 2 million Swiss francs to sales for the first time.

The EBIT-margin over energy sales attained 30% and delivered an EBIT of 31.5 (PY 32.4) million francs. The net income lay at 12.7 (PY 13.0) million francs.

By the end of 2020 the portfolio consisted of 604 (PY 545) MW installed capacity in power plants in operation or in construction. The wind segment delivered 57 percent of the revenues. 30 percent stemmed from the solar PV segment and 13 percent from the hydro segment.

The Board of Directors proposes to the General Meeting a dividend of 0.26 (PY 0.26) Swiss franc per share. The Annual General Meeting of aventron AG will take place on 15 April 2021. Due to COVID-19 related sanitary restrictions the AGM will be held in written form without presence of the shareholders. In 2020 aventron invested 37.1 million francs in the acquisition of existing power plants and in the construction of its own generating capacity. The balance sheet per year end amounts to 758.1 (PY 743.8) million francs. By the end of 2020 the aventron group held liquid assets totaling 75.8 (PY 69.1) million francs

HIAG launches joint venture with aventron for the production of solar power

HIAG and aventron set up the joint venture HIAG Solar in order to increase solar power production on the properties in HIAG’s real estate portfolio in the long term. HIAG holds 49% and aventron 51% of HIAG Solar AG.

With a planned module surface of approximately 65,000 m2 and an output of around 10 MWp, HIAG Solar intends to become a major solar power producer in Switzerland in the mid-term and to successively increase its production capacity. The company is striving for an annual power production of around 10 million kWh and CO2 equivalent savings of around 4.2 million tonnes. The first four plants are already in the planning stage and are expected to start power production in 2021 and 2022.

« The existing and planned properties in HIAG’s real estate portfolio are ideally suited for systematic expansion with photovoltaic systems, » explains Marco Feusi, CEO of HIAG, « power production from renewable energy sources will thus take on an even more important role in HIAG’s sustainability strategy, along with the existing photovoltaic systems and our hydroelectric power plants. »

For aventron CEO Antoine Millioud, HIAG Solar represents a perfect match: « HIAG owns very large roof areas in Switzerland and aventron has proven expertise in the planning, implementation and operation of high-performance solar power plants. »

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