7C Solarparken AG: The Group reports EBITDA of EUR 18 Mio in H1'18

and lifts 2018 guidance to "at least EUR 31 Mio".

Bayreuth (pta008/26.09.2018/08:00 UTC+2) Bayreuth, 26 September 2018 - During the first half of 2018, 7C Solarparken (WKN: A11QW6 / ISIN: DE000A11QW68) has continued its profitable growth. In spite of first quarter of 2018 with only limited sunshine, splendid irradiation in Q2'18 turned our key performance indicators to new records. Reflecting a 23% rise in weighted installed capacity and even slightly better meteorological conditions than in H1'17, revenues increased from EUR 18.1 Mio to EUR 20.4 Mio The reported EBITDA increased to EUR 18.0 Mio versus EUR 16.8 Mio in H1'17 which also contained various one-off items.

Even so, the group's net profit fell back from an exceptional level of EUR 5.1 Mio in the first half of 2017 to EUR 3.9 Mio. Aside from the EUR 1.2 Mio one-time gains in last year's EBITDA, the drop is mainly due to the year-on-year change in non-recurring financial items. While last year contained a EUR 0.9 Mio non-cash financial income on the refinancing of the Moorenweis solar asset, the first semester of 2018 included EUR 0.8 Mio early redemption penalties, mainly on the Immler project loans (EUR 3.8 Mio and EUR 5.2 Mio resp. which had interest rates of 4.1% and 5.7%). These loans were carried at their nominal value in the group's figures, leading to a one-off financial expense due to the redemption penalties. However, the early redemption of these loans with fixed rates expiring in 2025, will lead to savings in cash interest paid of over EUR 0.4 Mio in 2018 and therefore the early redemption will prove strongly cash flow enhancing.

The strong operational profitability and a reduced amount of cash interests paid (from EUR 3.2 Mio in H1'17 to EUR 2.7 Mio in H1'18) have boosted cash flow per share to EUR 0.32/share versus a reported figure of EUR 0.28/share last year.

The group's balance sheet remained very strong with an equity ratio of 29.2%. Net financial debt climbed from EUR 146.6 Mio at year-end 2017 to EUR 163.6 Mio and mainly reflects the emission of the Schuldschein loan (EUR 25 Mio) in Feb '18. With the schuldschein, management delivered its strategic goal for 2018 to use "alternative financing" to grow to 150 MWp.

From a strategic point of view, the company has also achieved its year-end capacity target of 150 MWp thanks to strong dealflow activity and the acquisition of a new-build pipeline bundled in Amatec Projects GmbH.

IPP portfolio at 153 MWp after acquisition of a small rooftop project in Säritz
The current IPP portfolio stands at 153 MWp following a new acquisition of a 0.6 MWp rooftop park in Säritz. This installation has been equipped with panels from Canadian Solar and Siemens inverters, and enjoys a feed-in tariff of EUR 222/MWh following commissioning in 2012.

Increase of full-year guidance
Thanks to the faster-than-expected capacity build-up and positive weather conditions in the first semester, which fully compensated the sunshine weakness observed during the first three months of the year, management has decided to lift EBITDA guidance for 2018 from EUR 29.6 Mio to "at least EUR 31 Mio". Also the cash flow per share target of EUR 0.49/share has been raised to "at least EUR 0.50/share".

Steven De Proost, CEO of 7C Solarparken AG, comments the half-year figures: "These solid results reflect the continued strength of our operating business as well as contributions from recent acquisitions. Although this year's growth target has been surpassed already, we still see further opportunities and reiterate our objective to grow into a 200 MWp player by the end of next year."

Earnings Conference Call
7C Solarparken AG will hold an earnings conference call on September 26, 2018 at 10:00 am CET. Steven De Proost, CEO of 7C Solarparken AG, and Koen Boriau, CFO of 7C Solarparken AG, will discuss the financial results. The slideshow will be simultaneously available on the website www.solarparken.com

7C Solarparken
7C Solarparken AG is a pure-play PV owner/operator with an IPP portfolio of around 153 MWp. Most installations are located in Germany. The company's shares are listed on the regulated market in Frankfurt in the General Standard segment.

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Emitter:	7C Solarparken AG An der Feuerwache 15 95445 Bayreuth Germany
Contact Person:	Koen Boriau
Phone:	+49 921 230557-77
E-Mail:	info@solarparken.com
Website:	www.solarparken.com
ISIN(s):	DE000A11QW68 (Share)
Stock Exchange(s):	Regulated Market in Frankfurt; Free Market in Berlin, Dusseldorf, Munich, Stuttgart