Aventron continues growing profits, now aims at 1 GW

Switzerland-based renewable energy company Aventron AG has more than doubled its net profit in 2017 following a significant increase in revenues and now prepares for a year of continued financial improvements.

The company posted a net profit of CHF 8.3 million (USD 8.7m/EUR 7m) for 2017 compared to CHF 3 million a year earlier, thanks to “economies of scale, operating improvements and positive developments in the Euro-CHF exchange rate”. Revenues jumped by 59% to CHF 77.1 million, with the wind power segment contributing 55.8% of the total. The acquisitions Aventron made in the solar photovoltaic (PV) segments in Italy and Switzerland contributed significantly to the increase, it said.

The company’s portfolio included 386 MW of installed capacity at the year end, compared to 350 MW a year earlier. In 2018 it anticipates to acquire some 40 MW of new solar, wind and hydro assets, which should help it achieve its 500-MW target by 2019. This allows Aventron to aim at a portfolio size of 1 GW in the medium term, it added.

From a financial point of view, the company expects to generate revenues of around CHF 85 million this year, assuming average weather conditions and a stable Euro. It sees its margin at the earnings before interest and tax (EBIT) level at about 30%.

At a general meeting scheduled for April 17, Aventron will seek approval for an up to CHF-147-million capital hike that will involve the issuance of up to 15 million shares at CHF 9.80 apiece. It explained that this sum will be used for investments in small hydro, solar PV and wind power assets in all the countries in which the company is active.

Aventron will also propose to raise the payable dividend by 9.5% to CHF 0.23 per share.

(CHF 1.0 = USD 1.044/EUR 0.844)

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