Business development of the Bremen project planner according to plan in the first half of 2019

Energiekontor AG closed the first half of 2019 at group level with sales of EUR 36.3 million (previous year EUR 32.9 million) and a total operating performance of EUR 44.3 million (previous year EUR 58.7 million). Group EBIT of EUR 11.2 million (previous year EUR 12.4 million) was slightly below the level of the previous year, the result from ordinary activities (EBT) of EUR 4.7 million (previous year EUR 4.7 million) was just a touch higher. Earnings per share in the first half of 2019 amounted to EUR 0.23, as in the same period of the previous year.

The positive result is primarily attributable to the contribution from the "Power generation in Group-owned wind and solar parks" segment. A good wind year to date and the additional contribution of the wind and solar parks, which were transferred to the Group's own portfolio, did not lead to a significant increase in sales compared with the same period of the previous year, as there was a one-off special remuneration of around EUR 3 million in the UK in 2018. As expected, the "Business Development, Innovation and Other" segment recorded a slight increase in revenue.

Peter Szabo, CEO of Energiekontor AG, comments: "Overall, the half-year result is in line with expectations. Since the course of business so far has largely gone according to plan, we have no reason to change the outlook for the year as a whole. The general conditions are and will remain challenging, so that we continue to expect a transition year for 2019. From 2020, our prospects will brighten significantly if our diversification strategy takes effect. We are pressing ahead with the expansion of our international presence and our commitment to solar parks."

The project pipeline at home and abroad is being continuously expanded and has meanwhile reached a potential capacity of approx. 4,000 MW. Projects based on PPA (Power Purchase Agreement) are playing an increasingly important role in this pipeline. As is well known in the market, Energiekontor wants to play a pioneering role in the industry and be one of the first to realise wind and solar parks with electricity production costs that are lower than those of the conventional energy industry. After Energiekontor was the first company in the UK to build a PPA-based wind farm and connect it to the grid, Energiekontor also signed two such contracts in the first half of 2019 for projects planned in Germany. "We assume that further PPAs in the solar sector will be concluded in the current year and that PPAs will also establish themselves as the standard in Germany in the coming years," says Peter Szabo.

The complete Half-Year Report 2019 is available on the Internet at: .

About Energiekontor AG:

For nearly 30 years, Energiekontor has stood for a sound approach to business and a wealth of experience in wind power. Formed in Bremerhaven in 1990, the company was one of the pioneers in the industry and is now one of the leading German project developers. Its core business covers planning, construction and operational management of wind farms in Germany and abroad, and was expanded to include solar power in 2010. Energiekontor also currently owns and operates wind farms and a solar park with a total rated power of around 287 megawatts. Energiekontor AG is a pioneer when it comes to economic viability in realising the first wind farms and solar parks at market prices without state subsidies in all target markets as quickly as possible.

In addition to its headquarters in Bremen, Energiekontor also maintains offices in Bremerhaven, Hagen im Bremischen, Aachen, Bernau (near Berlin) and Potsdam. The company also has branch offices in England (Leeds), Scotland (Edinburgh, Glasgow), Portugal (Lisbon), USA (Austin/Texas and Rapid City/South Dakota) and France (Toulouse, Rouen).

The track record speaks for itself: 122 wind farms and seven solar parks completed with a total rated power of around 1 gigawatt. This corresponds to an investment volume of more than EUR 1.6 billion.

Energiekontor went public on May 25, 2000. The shares of Energiekontor AG (WKN 531350/ISIN DE0005313506) are listed in the General Standard segment of the Frankfurt Stock Exchange and can be traded on all German stock exchanges.