Corporate News


ENCAVIS Annual General Meeting decides with an overwhelming majority of 99.27% to cancel the dividend in favour of further growth
 

Hamburg, 5 June 2023 – The Annual General Meeting (AGM) of the MDAX-listed Hamburg-based wind and solar park operator Encavis AG (Prime Standard, ISIN: DE0006095003, ticker symbol: ECV) resolved for the first time in 11 years to retain the entire consolidated net profit of Encavis AG. The result is to be carried forward and not distributed as a dividend in order to support the accelerated growth of the Group from its own resources. Particularly against the backdrop of the energy crisis, the market is expected to grow particularly strongly by the end of this decade, and Encavis is expected to play a leading role in this growth.

In the Supervisory Board meeting immediately following the AGM, Dr Rolf Martin Schmitz was elected as the new Chairman of the Supervisory Board of Encavis AG. Dr Manfred Krüper, former Chairman of the Supervisory Board, is now Deputy Chairman of the Supervisory Board.

"We are pleased that our shareholders have now shown a high level of interest in our Encavis AG Annual General Meeting again after an absence of around four years and that we were able to hold a lively discussion on the future growth potential of the Group. Our strategy of further accelerated growth received an impressive support from our shareholders," said Dr Rolf Martin Schmitz, newly elected Chairman of the Supervisory Board, welcoming the benevolent interest shown by investors at the first physical AGM at the Hamburg Chamber of Commerce.

Further new and additional elections to the committee appointments follow the stipulation that the position of Chairman of each committee be filled with independent Supervisory Board members. Dr Schmitz takes over the chairmanship of the Personnel and Nominating Committee and Dr Marcus Schenck joins this committee, along with the other committee members Dr Manfred Krüper and Thorsten Testorp.

Ms Isabella Pfaller continues to chair the Audit and ESG Committee. Dr Schmitz joins this committee as a new member, along with the other committee members Prof Fritz Vahrenholt and Dr Marcus Schenck.

The committee appointments at a glance:

Personnel and Nominating Committee

• Dr Rolf Martin Schmitz (Chairman/new)
• Dr Marcus Schenck (new)
• Dr Manfred Krüper
• Thorsten Testorp

Audit and ESG Committee

• Isabella Pfaller (Chairwoman)
• Dr Rolf Martin Schmitz (new)
• Dr Marcus Schenck
• Prof Fritz Vahrenholt

 

About ENCAVIS:
Encavis AG (Prime Standard; ISIN: DE0006095003; ticker symbol: ECV) is a producer of electricity from Renewable Energies listed on the MDAX of Deutsche Börse AG. As one of the leading independent power producers (IPP), ENCAVIS acquires and operates (onshore) wind farms and solar parks in twelve European countries. The plants for sustainable energy production generate stable yields through guaranteed feed-in tariffs (FIT) or long-term power purchase agreements (PPA). The Encavis Group's total generation capacity currently adds up to around 3.5 gigawatts (GW), of which more than 2.1 GW belongs to the Encavis AG, which corresponds to a total saving of around 0.8 million tonnes of CO₂ per year stand-alone for the Encavis AG. Within the Encavis Group, Encavis Asset Management AG offers fund services to institutional investors.

Encavis is a signatory of the UN Global Compact as well as of the UN PRI network. Encavis AG's environmental, social and governance performance has been awarded by two of the world's leading ESG rating agencies. MSCI ESG Ratings awarded the corporate ESG performance with their "A" level and ISS ESG with their "Prime" label.

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Contact:
ENCAVIS AG         
Jörg Peters          
Head of Corporate Communications & IR    
Tel.: 2 242      
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