7C Solarparken AG: Record 9M EBITDA of EUR 35.1 Mio leads to guidance increase. Portfolio Growth to 190 MWp.

Bayreuth (pta053/27.11.2019/17:35 UTC+1) Management report summary on the nine-months results of 2019

* Total power production in the first nine-months of 2019 rose by 16.9% to 149 GWh on the back of a surge in weighted average capacity (+22% to 160 MWp). Despite having another summer of extreme heat waves and severe droughts, the record irradiation observed during 2018 could not be repeated. Regardless, 7C Solarparken reports a specific yield of 923 kWh/kWp over the first nine months, only 2.7% below last year's exceptionally high figure.

* Nine-months EBITDA rose by 10.7% to EUR 35.1 Mio. Aside from continuous capacity growth, EBITDA also benefited from several one-offs. These one off items includes gains from business combinations (badwill) of EUR 1.0 Mio., a settlement with a module supplier of EUR 0.6 Mio. as well as a reduction of EUR 0.7 Mio. in rental expenses compared to the first nine months of 2018 due to the adoption of IFRS 16 as from Jan, 1st 2019.

* Reflecting solid cash flow generation and the proceeds of the private placement in June 2019, net debt dropped by 4.5% (versus year-end 2018) to EUR 154.5 Mio.

Guidance for 2019

The company increases its full-year guidance to "revenues of at least EUR 42.0 Mio." and "an EBITDA of at least EUR 37.5 Mio." and changes its cash flow per share guidance to EUR 0.52 per share for 2019. Management will present its new 3-years Strategic Plan on 10 December 2019. The presentation will be held at the MKK Conference in Munich.

Portfolio raised to 190 MWp

During the last weeks, 7C Solarparken has further raised its IPP portfolio to 190 MWp compared to 187 MWp at the end of September 2019 and 154 MWp at the end of last year. The new rooftop PV park of almost 2.3 MWp is located in Gustrow (Mecklenburg Western Pomerania) and has been acquired, free of debt, from E.ON Energie. The installation was commissioned during 2016 and therefore enjoys a feed-in tariff of EUR 99/MWh.

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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, Hamburg, Munich, Stuttgart, Tradegate
Other Stock Exchanges:	London