Announcement • Dec 05
Encavis AG (XTRA:ECV) acquired Everswinkel I (22.8 MW) project from UKA Umweltgerechte Kraftanlagen GmbH & Co. KG. Encavis AG (XTRA:ECV) acquired Everswinkel I (22.8 MW) project from UKA Umweltgerechte Kraftanlagen GmbH & Co. KG on December 4, 2024. The wind farm, located east of Münster, consists of two projects, of which Everswinkel I (22.8 MW) has been connected to the grid since August 2024 and Everswinkel II (5.7 MW) has been under construction since May 2024.
Encavis AG (XTRA:ECV) completed the acquisition of Everswinkel I (22.8 MW) project from UKA Umweltgerechte Kraftanlagen GmbH & Co. KG on December 4, 2024. Announcement • Nov 29
Encavis AG(XTRA:ECV) dropped from S&P Global BMI Index Encavis AG(XTRA:ECV) dropped from S&P Global BMI Index Announcement • Nov 28
Encavis AG(XTRA:ECV) dropped from Germany SDAX (Total Return) Index Encavis AG has been dropped from the SDAX (Total Return) Index. Announcement • Mar 14
KKR & Co. Inc. (NYSE:KKR) and Viessmann Group Gmbh & Co. Kg entered into a investment agreement to acquire 69% stake in Encavis AG (XTRA:ECV) for for €1.9 billion. KKR & Co. Inc. (NYSE:KKR) and Viessmann Group Gmbh & Co. Kg entered into a investment agreement to acquire 69% stake in Encavis AG (XTRA:ECV) for €1.9 billion on March 14, 2024. Encavis shareholders will be offered €17.50 per share in cash. In a related transaction, Abacon capital and other shareholders have signed binding agreements to sell approximately 18% and roll-over approximately 13% of Encavis shares and are fully supportive of the takeover offer. The voluntary public takeover offer will be subject to a minimum acceptance threshold of 54.2852% of all outstanding Encavis shares. The voluntary public takeover offer will be subject to various customary offer conditions, including the receipt of regulatory, antitrust and FDI approvals, with closing expected in Q4 2024. The Management Board and the Supervisory Board of Encavis, who have approved the execution of the Investment Agreement today, expressly support the Offer. PJT Partners is acting as financial advisor and Latham & Watkins and Hengeler Mueller are acting as legal advisors on the takeover offer. Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to €13.40, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 18x in the Renewable Energy industry in Germany. Total loss to shareholders of 23% over the past three years. Price Target Changed • Nov 19
Price target decreased by 7.4% to €19.27 Down from €20.82, the current price target is an average from 11 analysts. New target price is 40% above last closing price of €13.76. Stock is down 29% over the past year. The company is forecast to post earnings per share of €0.51 for next year compared to €0.49 last year. Reported Earnings • Nov 16
Third quarter 2023 earnings released: EPS: €0.15 (vs €0.14 in 3Q 2022) Third quarter 2023 results: EPS: €0.15 (up from €0.14 in 3Q 2022). Revenue: €136.2m (up 6.1% from 3Q 2022). Net income: €24.0m (up 6.5% from 3Q 2022). Profit margin: 18% (in line with 3Q 2022). Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Renewable Energy industry in Germany. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Price Target Changed • Nov 15
Price target decreased by 8.5% to €19.82 Down from €21.66, the current price target is an average from 11 analysts. New target price is 41% above last closing price of €14.04. Stock is down 27% over the past year. The company is forecast to post earnings per share of €0.52 for next year compared to €0.49 last year. Announcement • Sep 21
Encavis AG (XTRA:ECV) acquired 17-MW wind farm in Sommerland from BayWa r.e. AG. Encavis AG (XTRA:ECV) acquired 17-MW wind farm in Sommerland from BayWa r.e. AG on September 20, 2023. The wind farm is expected to generate an average of around 53 gigawatt hours (GWh) of electricity per year and will generate revenue and earnings for Encavis from next year. Commissioning will take place during the coming weeks, with the economic transition to Encavis scheduled for January 1, 2024.Encavis AG (XTRA:ECV) completed the acquisition of 17-MW wind farm in Sommerland from BayWa r.e. AG on September 20, 2023. Reported Earnings • Aug 17
Second quarter 2023 earnings released: EPS: €0.17 (vs €0.22 in 2Q 2022) Second quarter 2023 results: EPS: €0.17 (down from €0.22 in 2Q 2022). Revenue: €135.2m (flat on 2Q 2022). Net income: €28.2m (down 21% from 2Q 2022). Profit margin: 21% (down from 26% in 2Q 2022). Revenue is forecast to grow 8.3% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Renewable Energy industry in Germany. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Jun 22
Encavis AG, Annual General Meeting, Jun 05, 2024 Encavis AG, Annual General Meeting, Jun 05, 2024. Buying Opportunity • May 17
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 13%. The fair value is estimated to be €20.39, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 63%. For the next 3 years, revenue is forecast to grow by 8.6% per annum. Earnings is also forecast to grow by 6.9% per annum over the same time period. Announcement • Feb 10
Encavis AG (XTRA:ECV) acquired wind farm project in Bergheim from Energiekontor AG (XTRA:EKT). Encavis AG (XTRA:ECV) acquired wind farm project in Bergheim from Energiekontor AG (XTRA:EKT) on February 8, 2023.Encavis AG (XTRA:ECV) completed the acquisition of wind farm project in Bergheim from Energiekontor AG (XTRA:EKT) on February 8, 2023. Announcement • Feb 09
Encavis AG (XTRA:ECV) acquired 11.2 MW wind farm in North Rhine-Westphalia, Germany from Energiekontor AG (XTRA:EKT). Encavis AG (XTRA:ECV) acquired 11.2 MW wind farm in North Rhine-Westphalia, Germany from Energiekontor AG (XTRA:EKT) on February 8, 2023.Encavis AG (XTRA:ECV) completed the acquisition of 11.2 MW wind farm in North Rhine-Westphalia, Germany from Energiekontor AG (XTRA:EKT) on February 8, 2023. Major Estimate Revision • Jan 26
Consensus EPS estimates increase by 10% The consensus outlook for earnings per share (EPS) in fiscal year 2022 has improved. 2022 revenue forecast increased from €427.7m to €434.9m. EPS estimate increased from €0.443 to €0.489 per share. Net income forecast to shrink 13% next year vs 18% growth forecast for Renewable Energy industry in Germany . Consensus price target down from €23.62 to €22.42. Share price rose 7.8% to €18.07 over the past week. Announcement • Nov 24
Encavis AG to Report Q3, 2023 Results on Nov 13, 2023 Encavis AG announced that they will report Q3, 2023 results on Nov 13, 2023 Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: €0.15 (vs €0.095 in 3Q 2021) Third quarter 2022 results: EPS: €0.15 (up from €0.095 in 3Q 2021). Revenue: €131.1m (up 35% from 3Q 2021). Net income: €23.7m (up 78% from 3Q 2021). Profit margin: 18% (up from 14% in 3Q 2021). Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Renewable Energy industry in Germany. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Aug 25
Consensus EPS estimates increase by 12% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from €429.1m to €434.4m. EPS estimate increased from €0.39 to €0.44 per share. Net income forecast to shrink 5.0% next year vs 28% growth forecast for Renewable Energy industry in Germany . Consensus price target up from €21.75 to €23.13. Share price rose 11% to €24.39 over the past week. Reported Earnings • Aug 18
Second quarter 2022 earnings released: EPS: €0.22 (vs €0.29 in 2Q 2021) Second quarter 2022 results: EPS: €0.22 (down from €0.29 in 2Q 2021). Revenue: €136.0m (up 32% from 2Q 2021). Net income: €35.8m (down 13% from 2Q 2021). Profit margin: 26% (down from 40% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 7.5% compared to a 13% decline forecast for the Renewable Energy industry in Germany. Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has only increased by 42% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Aug 05
Consensus EPS estimates increase by 13% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from €389.6m to €425.8m. EPS estimate increased from €0.35 to €0.40 per share. Net income forecast to shrink 8.5% next year vs 3.2% growth forecast for Renewable Energy industry in Germany . Consensus price target broadly unchanged at €0. Share price rose 6.1% to €22.63 over the past week. Reported Earnings • May 14
First quarter 2022 earnings: EPS misses analyst expectations First quarter 2022 results: EPS: €0.077 (up from €0.016 loss in 1Q 2021). Revenue: €93.4m (up 59% from 1Q 2021). Net income: €12.4m (up €14.6m from 1Q 2021). Profit margin: 13% (up from net loss in 1Q 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 12%. Over the next year, revenue is forecast to grow 11% compared to a 24% decline forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has only increased by 44% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • May 13
Upcoming dividend of €0.30 per share Eligible shareholders must have bought the stock before 20 May 2022. Payment date: 23 June 2022. Payout ratio is a comfortable 58% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of German dividend payers (4.2%). Lower than average of industry peers (1.8%). Major Estimate Revision • May 05
Consensus EPS estimates increase by 15% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from €383.4m to €390.3m. EPS estimate increased from €0.29 to €0.33 per share. Net income forecast to shrink 21% next year vs 36% growth forecast for Renewable Energy industry in Germany . Consensus price target broadly unchanged at €21.28. Share price fell 4.3% to €20.04 over the past week. Price Target Changed • Apr 27
Price target increased to €21.69 Up from €20.20, the current price target is an average from 7 analysts. New target price is approximately in line with last closing price of €20.74. Stock is up 26% over the past year. The company is forecast to post earnings per share of €0.29 for next year compared to €0.52 last year. Major Estimate Revision • Apr 15
Consensus EPS estimates increase by 17% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from €364.6m to €383.4m. EPS estimate increased from €0.25 to €0.30 per share. Net income forecast to shrink 32% next year vs 37% growth forecast for Renewable Energy industry in Germany . Consensus price target up from €20.20 to €21.69. Share price fell 3.7% to €20.50 over the past week. Price Target Changed • Apr 14
Price target increased to €21.69 Up from €20.20, the current price target is an average from 7 analysts. New target price is 5.8% above last closing price of €20.50. Stock is up 22% over the past year. The company is forecast to post earnings per share of €0.25 for next year compared to €0.52 last year. Price Target Changed • Apr 11
Price target increased to €20.76 Up from €19.16, the current price target is an average from 7 analysts. New target price is approximately in line with last closing price of €20.15. Stock is up 22% over the past year. The company is forecast to post earnings per share of €0.25 for next year compared to €0.52 last year. Valuation Update With 7 Day Price Move • Apr 05
Investor sentiment improved over the past week After last week's 22% share price gain to €21.23, the stock trades at a forward P/E ratio of 84x. Average forward P/E is 22x in the Renewable Energy industry in Europe. Total returns to shareholders of 252% over the past three years. Reported Earnings • Mar 31
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: EPS: €0.52 (up from €0.074 in FY 2020). Revenue: €332.7m (up 14% from FY 2020). Net income: €75.3m (up €65.2m from FY 2020). Profit margin: 23% (up from 3.5% in FY 2020). Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) also surpassed analyst estimates by 162%. Over the next year, revenue is forecast to grow 6.1% compared to a 33% decline forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has only increased by 44% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Mar 17
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 EPS estimate fell from €0.24 to €0.20 per share. Revenue forecast steady at €326.9m. Net income forecast to shrink 14% next year vs 22% growth forecast for Renewable Energy industry in Germany . Consensus price target broadly unchanged at €19.04. Share price rose 3.0% to €18.00 over the past week. Valuation Update With 7 Day Price Move • Feb 28
Investor sentiment improved over the past week After last week's 21% share price gain to €15.37, the stock trades at a forward P/E ratio of 57x. Average forward P/E is 25x in the Renewable Energy industry in Europe. Total returns to shareholders of 181% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €11.37 per share. Reported Earnings • Nov 16
Third quarter 2021 earnings released: EPS €0.095 (vs €0.042 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €98.4m (up 21% from 3Q 2020). Net income: €13.3m (up 126% from 3Q 2020). Profit margin: 14% (up from 7.2% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has increased by 43% per year, which means it is tracking significantly ahead of earnings growth. Major Estimate Revision • Aug 18
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 EPS estimate fell from €0.30 to €0.27 per share. Revenue forecast steady at €324.8m. Net income forecast to grow 217% next year vs 29% growth forecast for Renewable Energy industry in Germany. Consensus price target of €18.13 unchanged from last update. Share price was steady at €15.66 over the past week. Upcoming Dividend • May 22
Upcoming dividend of €0.28 per share Eligible shareholders must have bought the stock before 28 May 2021. Payment date: 01 June 2021. Trailing yield: 1.8%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (4.0%). Reported Earnings • May 15
First quarter 2021 earnings released: €0.001 loss per share (vs €0.031 loss in 1Q 2020) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2021 results: Revenue: €70.8m (up 6.8% from 1Q 2020). Net loss: €206.0k (loss narrowed 95% from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 32% per year, which means it is well ahead of earnings. Reported Earnings • Mar 26
Full year 2020 earnings released: EPS €0.074 (vs €0.17 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: €297.4m (up 5.6% from FY 2019). Net income: €10.1m (down 54% from FY 2019). Profit margin: 3.4% (down from 7.9% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 34% per year, which means it is well ahead of earnings. Major Estimate Revision • Mar 24
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 EPS estimate fell from €0.36 to €0.32 per share. Revenue forecast steady at €328.4m. Net income forecast to grow 685% next year vs 23% growth forecast for Renewable Energy industry in Germany. Consensus price target of €18.28 unchanged from last update. Share price fell 2.2% to €17.66 over the past week.