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About CHORUS
The CHORUS Group was founded in 1998 and operates 94 solar and wind parks with a capacity of more than 530 megawatts in seven European countries. With a broadly diversified portfolio, the company generates stable, dependable, and sustainable returns. For professional investors, CHORUS offers investment opportunities in power plants that generate renewable energy. CHORUS Clean Energy AG covers the entire investment cycle – from asset sourcing via financial and legal due diligence to operations and divestment.

 

http://www.chorus.de/

30. November 2016
CHORUS Clean Energy AG maintains its positive course of business in the first nine months of 2016
CHORUS Clean Energy AG (“CHORUS”), based in Neubiberg near Munich, a company specializing in the operation of solar and wind parks, generated consolidated revenue of EUR 49.0 million in the first nine months of 2016 – which is on a par with the previous year’s level – despite comparatively lower levels of wind. During the reporting period, the managed portfolio of wind and solar parks was expanded by 230 megawatts (MW) to a total of 530 MW.
•    Group revenue reaches EUR 49.0 million
•    Operating result EBITDA rises by 5.6 percent to EUR 39.0 million
•    Managed wind and solar park portfolio expanded by a further 230 megawatts

Neubiberg/Munich, November 30, 2016 – CHORUS Clean Energy AG (“CHORUS”), based in Neubiberg near Munich, a company specializing in the operation of solar and wind parks, generated consolidated revenue of EUR 49.0 million in the first nine months of 2016 – which is on a par with the previous year’s level – despite comparatively lower levels of wind. During the reporting period, the managed portfolio of wind and solar parks was expanded by 230 megawatts (MW) to a total of 530 MW. The new parks will contribute to future growth in revenue and earnings.
 
There was a slight increase in revenue from electricity generation at solar and wind parks during the reporting period coming in at EUR 47.4 million (9M 2015: EUR 46.5 million). In the first nine months of 2016, CHORUS acquired seven wind parks with a total capacity of around 90 MW for its own portfolio.
The Asset Management segment, in which CHORUS provides institutional investors with an extensive range of services, was expanded considerably in the reporting period. “Since the beginning of the year, CHORUS has taken over the operation of 14 wind and solar parks on behalf of various institutional clients, thus increasing its overall capacity in this segment by around 130 MW to around 230 MW in total. This has enabled us to extend our activities to Sweden and the UK – markets in which we were previously not represented. Together with our new majority shareholder Capital Stage, we firmly believe in our growth potential in this segment,” says CHORUS Management Board member Karsten Mieth.

The CHORUS managed portfolio, which comprises its own plants and those it manages for third parties, generated approximately 550 million kilowatt hours (kWh) of clean energy between the start of January and the end of September 2016. Compared with the previous year, this equates to an increase of around 90 percent (9M 2015: 294 million kWh).   

During the 2016 reporting period, CHORUS generated operating earnings before interest, taxes, depreciation and amortization (EBITDA) of EUR 39.0 million (9M 2015: EUR 36.8 million). The EBITDA margin rose accordingly by five percentage points as compared with the same period last year to around 79 percent.  The earnings before interest and taxes (EBIT) increased by 2.3 percent to EUR 20.7 million.

“We look back to a very successful time and are delighted to take the chances on the market for renewable energies with our majority shareholder Capital Stage and to continue our successful path of growth”, says Helmut Horst, Management Board member at CHORUS.

The full interim report for the third quarter of 2016 can be downloaded from the company’s website at http://www.chorus.de/en/investor-relations/publications/


Contact:
Investor Relations
CHORUS Clean Energy AG
Tel.: +49 (0) 89 / 442 30 60 - 0
Fax: +49 (0) 89 / 442 30 60 - 11
E-Mail: IR(at)chorus.de

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