Bremen, 19 May 2023 – SDAX-listed Energiekontor AG (ISIN DE0005313506), one of Germany's leading project developers and operators of wind and solar parks, held its 23rd Annual General Meeting (AGM) in digital form on Wednesday May 17, 2023. All items on the agenda, for which a resolution by the Annual General Meeting was required, were approved by a large majority. The agenda for the Annual General Meeting, the voting results, the presentation of the Management Board and other documents relating to the Annual General Meeting are permanently available on the Company's website.
Review - Record results in the financial year 2022
Peter Szabo, CEO of Energiekontor AG, in a review presented the record results for the financial year 2022 to the shareholders. Important Milestones in the financial year 2022 were among else, the sale of in total seven wind park projects in Germany and the UK as well as one solar park project in Germany. The total generation capacity of these sold projects amounts to some 100 MW. Furthermore, in the 2022 financial year eleven wind- and solar parks with a total generation capacity of again some 100 MW have been commissioned. Ten further projects with a generation capacity of about 165 MW were under construction at the end of the reporting period, which is December 31, 2022. With the strong increase of the valuable project pipeline of Energiekontor by 1.7 GW (yoy; incl. US project rights) to some 10.3 GW as at December 31, 2022, Energiekontor was able to once again prove its strong acquisition power and expanded the basis for future growth.
With the commissioning and transfer of further wind and solar parks with a total generation capacity of almost 50 MW to the company's own portfolio, the expansion of the Group-owned wind and solar parks was expanded as planned in the reporting period. The Group’s own portfolio reached a total generation capacity of over 380 MW as at December 31, 2022. Better wind conditions as well as an increase in capacity (as described) and the implementation of further efficiency measures took part in increasing the total power production in the Group’s won portfolio to some 550 GWh in the financial year 2022.
All projects together since the year of the foundation of Energiekontor in the year 1990, thus contribute to a yearly saving of some 1.8 million tons of climate-damaging CO2 and are sufficient to cover the electricity demand of some 750,000 average households. Energiekontor thus contributes to the energy transition as well as to a climate-friendly, affordable and secure energy supply of today and tomorrow.
Energiekontor published the financial result for the financial year ending December 31, s022, already on March 31, 2023. With Earnings before Taxes (EBT) of EUR 62.9m (2021: EUR 44.9m) and a Group result of EUR 44.5m (2021: EUR 36.2m) the company once again achieved a record result.
Dividend increased to EUR 1.00 (Previous year EUR 0.90)
On the stand-alone financial statement oft he AG, the result for the financial year 2022 came in at EUR 47.8m (2021: EUR 34.5m) and retained earnings stood at EUR 47.9m (2021: EUR 34.7m). Management and Supervisory Board thus proposed a dividend to the AGM of EUR 1.00 per dividend-bearing share (previous year EUR 0.90). The proposal was approved by a large majority of the AGM.
Positive Outlook on the current 2023 financial year
According to Peter Szabo, Energiekontor has made a good and promising start to the current 2023 financial year. Further details to the operative business development had been published already on May 12, 2023, with the report on the first three months of the financial year 2023. On the basis of this pleasing operational performance, Szabo also expressed further optimism, that the goals for the financial year 2023 which had been published earlier with the release of the annual report 2022 – an increase of EBT by 10-20 per cent year-over-year – continue to be very well reachable.
Growth strategy „2023 – 2028“
Szabo further commented on the growth strategy „2023-2028“ which the company also released with the publication of the annual report 2022. The strategy aims to increase the company’s EBT on a yearly basis by on average 15 per cent and to achieve more or less a doubling regarding EBT with some EUR 120m at the end of the financial year 2028.
Energiekontor's proven organic growth model, which distinguishes the company from its competitors and offers a high level of financial stability and security, will continue to form the basis of Energiekontor's growth strategy in the future.
Elections to the Supervisory Board (election of Chairman as well as Deputy Chairman of the Supervisory Board)
At this year's AGM, the election of the new Supervisory Board was also on the agenda. The candidates proposed to the AGM Dr. Bodo Wilkens, Günter Lammers and Darius Oliver Kianzad, were all re-elected with a large majority.
The AGM of Energiekontor AG was followed by a constituent meeting of the newly elected members of the Supervisory Board. Dr. Bodo Wilkens was re-elected unanimously as Chairman of the Supervisory Board. Günter Lammers was re-elected unanimously as Deputy Chairman of the Supervisory Board.
Redemption of treasury shares and corresponding reduction of the total share capital
At its meeting following the AGM, the Supervisory Board also approved the Management Board's proposal of May 17, 2023, to reduce the Company's share capital from € 13,986,900.00 - by € 27,541.00 - to € 13,959,359.00 - by redeeming 27,541 shares - based on the continuing authorization given to the company by the AGM that was held on May 20, 2020.
These shares are shares in the company that Energiekontor acquired via the stock exchange as part of the share buyback program in the period from June 13, 2022, to April 20, 2023. The company will provide information on the redemption of the shares and the corresponding reduction in the share capital of Energiekontor AG as part of a joint voting rights notification.
About Energiekontor AG:
A solid business policy and a lot of experience in renewable energies: This is what Energiekontor has stood for over 30 years. Founded in Bremerhaven in 1990, the Company is one of the pioneers in the industry and is now one of Germany's leading project developers. Its core business ranges from the planning and construction to the operational management of wind and solar parks in Germany and abroad. In addition, Energiekontor operates wind and solar parks with a nominal output of over 380 megawatts in its own portfolio. Energiekontor AG also aims to play a pioneering role in economic terms and to realize the first wind and solar parks in all target markets at market prices as quickly as possible, independently of state subsidies.
In addition to its headquarters in Bremen, Energiekontor has offices in Bremerhaven, Hagen im Bremischen, Aachen, Augsburg, Bernau near Berlin, Potsdam, Berlin-Spandau and Hildesheim. The Company also has offices in England (Leeds), Scotland (Edinburgh, Glasgow), Portugal (Lisbon), USA (Houston/Texas and Rapid City/South Dakota) and France (Toulouse, Rouen).
The track record since the Company was founded: 140 realized wind farms and 14 solar parks with a total output of over 1.3 gigawatts. This corresponds to an investment volume of more than 1.8 billion euros.
Energiekontor AG (WKN 531350/ISIN DE0005313506/General Standard) is listed on the SDAX of the German Stock Exchange in Frankfurt and can be traded on all German stock exchanges.
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