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Weather-related construction delays lead to profit postponement

Ad-hoc-Notification 30.12.2019

Publication of insider information pursuant to Article 17 MAR (Ad hoc announcement)


Bremen, December 30, 2019. Due to the unsettled weather conditions in the last 14 days, especially due to the persistently strong wind, no wind turbine of the wind farm of Energiekontor AG in North Rhine-Westphalia, which is decisive for the amount of the consolidated EBT 2019 and is still under construction, can be completed and commissioned by the end of the year as planned despite all efforts and a multi-shift operation from today's perspective. This means that the entire earnings contribution in the double-digit million range will be postponed until next year and the Group EBT 2020 will increase accordingly. Until now, it was still to be assumed that at least individual wind turbines of the wind farm in question could be commissioned by the end of the year with an effect on earnings. This is no longer possible from today's perspective due to the continuing strong wind at the site. Due to this unplanned weather-related delay in construction and the resulting shift in profits, Group EBT for 2019 will in all probability be negative.