EQS-News: clearvise AG publishes half-year financial report 2024 and confirms outlook

clearvise AG publishes half-year financial report 2024 and confirms outlook

• Group revenue reaches EUR 18.9 million in the first half of 2024
• Adjusted EBITDA amounts to EUR 12.4 million
• Total production amounted to 234.4 GWh; share of PV production increases significantly
• Outlook for the current financial year 2024 confirmed

Frankfurt, 13 August 2024 – clearvise AG (WKN A1EWXA / ISIN DE000A1EWXA4), an independent power producer for renewable energies with a diversified European portfolio of wind and PV plants, published its half-year figures today. The Group generated revenue in line with expectations of EUR 18.9 million in the first six months of the 2024 financial year (6M 2023: EUR 23.4 million). This corresponds to a decrease of 19%. This is mainly due to the sale of the Finnish wind parks at the end of 2023 and lower market values as a result of the normalization of electricity prices in Germany. At 234.4 GWh, production was 15% lower than in the same period of the previous year (6M 2023: 276.7 GWh). In the PV segment, however, clearvise was able to increase production by 14% compared to the same period of the previous year. The PV share of total production rose to 32% (6M 2023: 24%). This brings clearvise closer to its target of equal production from onshore wind and PV.

Adjusted EBITDA amounted to EUR 12.4 million in the reporting period and was therefore 21% below the previous year's figure, as expected. The decline is due in particular to the lower revenue. Operating cash flow amounted to EUR 14.6 million in the first half of the year (6M 2023: EUR 8.1 million). The equity ratio is around 42% and provides a stable basis for the company's future growth.

Manuel Sieth, CFO of clearvise AG, comments: "In the first half of 2024, the focus was on optimizing the portfolio. To this end, we sold the biogas segment and focused on the onshore wind and photovoltaics segments. We also successfully entered the Italian market by acquiring the project rights for three solar parks in Sardinia and Lazio with a combined capacity of more than 30 MWp. Despite the difficult market conditions with lower electricity prices and market values, we believe we are excellently positioned for further profitable growth and are committed towards our goals."

As at June 30, 2024, clearvise AG's operating generation portfolio included wind and solar parks with an installed capacity of 316 MW (June 30, 2023: 304 MW) in Germany, France and Ireland. An important milestone was the completion and commissioning of the 42 MWp Wolfsgarten solar park. In addition, 66 MW are under construction or in the approval phase.

Outlook for 2024
clearvise confirms the outlook for the current financial year. The electricity production from the existing portfolio is expected to amount to 440 to 460 GWh under normal weather conditions. This is based on the assumption of an unchanged portfolio. The volatility of electricity prices remains high, making it difficult to make a reliable price forecast. clearvise is therefore forecasting revenue in a range of EUR 35.5 to 37.0 million on the basis of secured prices through PPAs (Purchase Power Agreement) or the respective tariffs less expenses for electricity marketing. Group EBITDA adjusted for special effects is expected to be in the range of EUR 21.8 million to EUR 23.1 million.

The half-year financial report 2024 is available on the company's website in the Investor Relations section at clearvise.de

About clearvise
clearvise AG is an independent producer of electricity from renewable energies with a diversified European investment portfolio of onshore wind and solar parks.

Based on a three-pillar acquisition strategy, the company is focusing on profitably expanding its portfolio and creating added value for all stakeholders with the individual clearSWITCH, clearPARTNERS and clearVALUE models. The shares of clearvise AG (WKN A1EWXA / ISIN DE000A1EWXA4) have been listed on the stock exchange since 2011 and are currently traded on the open market of various German stock exchanges and via XETRA (www.clearvise.com).

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