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 18% After last week's 18% share price gain to €13.04, 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 25% over the past three years. Price Target Changed • Nov 18
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 41% above last closing price of €13.70. Stock is down 28% 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 48% above last closing price of €13.43. Stock is down 31% 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. New Risk • Nov 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (18% operating cash flow to total debt). Minor Risks Share price has been volatile over the past 3 months (6.3% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (13% net profit margin). 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. 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 30% per year, which means it is significantly lagging earnings growth. 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 44% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 09
Investor sentiment improved over the past week After last week's 16% share price gain to €20.10, the stock trades at a forward P/E ratio of 59x. Average forward P/E is 25x in the Renewable Energy industry in Europe. Total returns to shareholders of 194% over the past three years. 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: 1.7%. Lower than top quartile of German dividend payers (4.2%). In line with average of industry peers (1.8%). 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 25% 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. Price Target Changed • Apr 15
Price target increased to €21.69 Up from €20.20, the current price target is an average from 7 analysts. New target price is 5.5% above last closing price of €20.55. Stock is up 24% over the past year. The company is forecast to post earnings per share of €0.30 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 €21.30. Stock is up 28% 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 16% share price gain to €20.18, the stock trades at a forward P/E ratio of 80x. Average forward P/E is 22x in the Renewable Energy industry in Europe. Total returns to shareholders of 236% 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 43% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 28
Investor sentiment improved over the past week After last week's 17% share price gain to €13.98, the stock trades at a forward P/E ratio of 52x. Average forward P/E is 25x in the Renewable Energy industry in Europe. Total returns to shareholders of 157% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €11.34 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. Upcoming Dividend • May 21
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 35% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Mar 06
New 90-day low: €16.68 The company is down 5.0% from its price of €17.50 on 04 December 2020. The German market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Renewable Energy industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €36.17 per share. Price Target Changed • Feb 25
Price target raised to €18.28 Up from €16.94, the current price target is an average from 9 analysts. The new target price is close to the current share price of €18.18. As of last close, the stock is up 68% over the past year. Price Target Changed • Jan 29
Price target raised to €17.06 Up from €15.86, the current price target is an average from 8 analysts. The new target price is 24% below the current share price of €22.55. As of last close, the stock is up 108% over the past year. Is New 90 Day High Low • Jan 05
New 90-day high: €23.15 The company is up 29% from its price of €17.90 on 07 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Renewable Energy industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €32.97 per share. Is New 90 Day High Low • Dec 16
New 90-day high: €19.12 The company is up 33% from its price of €14.34 on 17 September 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Renewable Energy industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €23.60 per share. Reported Earnings • Nov 17
Third quarter 2020 earnings released: EPS €0.042 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: €81.2m (down 5.5% from 3Q 2019). Net income: €5.87m (down 70% from 3Q 2019). Profit margin: 7.2% (down from 23% in 3Q 2019). The decrease in margin was primarily driven by higher expenses. Analyst Estimate Surprise Post Earnings • Nov 17
Revenue and earnings miss expectations Revenue missed analyst estimates by 2.0%. Earnings per share (EPS) also missed analyst estimates by 55%. Over the next year, revenue is forecast to grow 9.6%, compared to a 27% growth forecast for the Renewable Energy industry in Germany. Is New 90 Day High Low • Nov 07
New 90-day high: €18.58 The company is up 37% from its price of €13.56 on 07 August 2020. The German market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Renewable Energy industry, which is down 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €28.35 per share. Is New 90 Day High Low • Sep 29
New 90-day high: €15.66 The company is up 22% from its price of €12.82 on 01 July 2020. The German market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Renewable Energy industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €17.70 per share.