7C Solarparken AG: 7C Solarparken at record level with EBITDA and profitability in the first half of 2017

Bayreuth (pta008/27.09.2017/08:00 UTC+2) Bayreuth, 27 September 2017 - During the first half of 2017, 7C Solarparken (WKN: A11QW6 / ISIN: DE000A11QW68) has continued its profitable growth.

Reflecting a 20% rise in installed capacity and better weather conditions, revenues increased from EUR 15.2 Mio to EUR 18.1 Mio. The reported EBITDA even increased by approximately 25% to EUR 16.8 Mio but contains various one-off items including gains on bargain purchases. Clean EBITDA rose by 23% to EUR 15.6 Mio reflecting the expansion of the group's operating asset base in combination with cost control.

The group's net profit climbed from EUR 2.1 Mio in last year's comparable period to EUR 5.1 Mio in the first half of 2017. Aside from operational profitability, the bottom line was also positively impacted by a financial income from the refinancing of the Moorenweis solar asset and reduced financial expense (down from EUR 3.6 Mio to EUR 3.2 Mio) following last year's successful execution of the refinancing of the Miskina portfolio.

The group's balance sheet has also been strengthened further during the first half of the year. The equity ratio has risen from 25% to 28% with net debt dropping from EUR 156.7 Mio to EUR 150.5 Mio. In combination with net profit at a record level, the economics provide comfort to the management board's objective of remunerating shareholders with a dividend or dividend equivalent on the basis of the 2017 result.

Furthermore, the group is also making good progress on delivering the 2016-18 strategic objectives. The stated target of reaching 115 MWp capacity at year-end 2017 is in sight with a portfolio of currently 113 MWp. In addition, the optimization program 2.0 is nearly completed and multiple discussions are ongoing with financial and industrial players with the aim to close a strategic deal in 2018, which will lay the foundation for an installed base of 200 MWp.

7C Solarparken
7C Solarparken AG is a listed owner/operator of PV plants in Germany with a portfolio of 113 MWp. The shares of the company are traded on the regulated segment of the Frankfurt Stock Exchange (General Standard).

For further information:
7C Solarparken AG
An der Feuerwache 15
95445 Bayreuth,
Deutschland
www.solarparken.com
Steven De Proost, CEO
info@solarparken.com
Tel. +49 (0) (921) 230557 77

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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