Capital Stage posts EUR-6m EBIT for Q1 2016

Author: Gerry Machen. License: Creative Commons, Attribution-NoDerivs 2.0 Generic.

German solar park and wind farm operator Capital Stage AG (ETR:CAP) reported an EBIT of EUR 6.13 million (USD 7m) for the first quarter of 2016 and confirmed its forecast for an EBIT of over EUR 60 million for the full year.

Earnings before interest and tax in the reporting period included increased depreciations related to Capital Stage’s portfolio expansion which are seasonally independent. Such effects will be balanced out over the course of the year, the firm said.

The table contains first-quarter results and the confirmed guidance for the full year. The earnings forecast is based on the portfolio of secured investments as of March 31.

Results in EUR million	Q1 2016	Q1 2015	2016E	2015
Operating cash flow	19.6	5.7	93	74.5
EBIT	6.13	6.96	60+	55.4
EBITDA	15.6	13.6	100+	86.8
Sales	22.35	17.5	130+	112.8

Capital Stage said its own funds currently support investments of more than EUR 300 million. It is confident it would disclose more solar and wind acquisitions shortly.

The company will release its full consolidated financial statements for the first quarter on May 31.

(EUR 1 = USD 1.119)

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