The wind and solar park operator Energiekontor is increasing its profit target for the 2023 financial year.
This is primarily due to the sale of a wind farm project in Scotland and the generally good project business, as the company announced on Friday evening in Bremen. Investors on the stock market reacted positively to the forecast change on Monday as expected.
The Energiekontor share price temporarily climbed by more than nine percent to 77 euros in the morning. Most recently, the stock was up 8.65 percent, making it by far the leader in the SDAX small-cap index. In the long term, things are still going well for the Bremen-based company in the growth sector of renewable energies: over the past five years, the share price has increased almost sixfold.
Compared to the previous year, management now wants to increase pre-tax earnings by around 30 to 60 percent to 80 to 100 million euros. So far, the plan was to increase profits before taxes (EBT) by 10 to 20 percent. The group plans to publish the figures for the current financial year on March 28th.
The onshore wind farm sold is the Garbet project near the town of Dufftown in the north-east of the Highlands of Scotland. The buyer is a fund from the asset management company Capital Dynamics. According to CEO Peter Szabo, Energiekontor has already implemented several infrastructure projects with Capital Dynamics in recent years. The wind farm is scheduled to begin operations by the end of 2026 and generate a total output of up to 46 megawatts.
Energiekontor was founded in Bremerhaven in 1990. The company plans, builds and operates wind and solar parks at home and abroad. The group operates 40 wind and solar parks with a total nominal output of over 390 megawatts.
Capital Dynamics focuses on private assets, including green energy, private equity and private credit. The company manages assets under management and advice of more than 14 billion US dollars (12.8 billion euros).
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BREMEN (dpa-AFX)
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