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EQS-News: clearvise AG / Key word(s): Annual Results
clearvise AG outperforms earnings forecast with 2023 consolidated financial statements and looks back on a successful
financial year
2024-04-30 / 08:30 CET/CEST
The issuer is solely responsible for the content of this announcement.
clearvise AG outperforms earnings forecast with 2023 consolidated financial statements and looks back on a successful
financial year
. Consolidated financial statements confirm the preliminary figures communicated on 17 April 2024
. Consolidated revenue of EUR 44.8 million at the upper end of the forecast range
. Adjusted EBITDA exceeds forecast at EUR 30.3 million
. Production in line with expectations at 533 GWh
. Outlook for 2024: electricity production of 440 to 460 GWh, revenue of EUR 35.5 to 37.0 million and
adjusted EBITDA of EUR 21.8 to 23.1 million
Frankfurt, 30 April 2024 - clearvise AG (WKN A1EWXA / ISIN DE000A1EWXA4), an independent power producer from renewable
energies with a diversified European portfolio of wind and PV plants, today published its annual report for 2023 and
confirms the preliminary figures presented on 17 April 2024. clearvise can look back on a successful financial year.
All key figures were within or even above the most recent forecast corridor despite the challenging market environment.
Petra Leue-Bahns, CEO of clearvise AG, comments: "In 2023, the general conditions for our business were significantly
more difficult. Nevertheless, we performed very successfully and achieved or even outperformed all of our targets. The
focus was on further optimizing and diversifying our portfolio. For example, we sold our Finnish wind farms in the
reporting period and are currently investing heavily in solar projects in Italy and France. We are also actively
managing our portfolio in order to increase the returns on our solar and wind parks."
In the 2023 financial year, clearvise achieved consolidated revenue of EUR 44.8 million (2022: EUR 65.2 million;
forecast: EUR 42.0 to 45.0 million). The decline is due in particular to the normalization of electricity prices at a
lower level than in the record year 2022. In addition, around 10% of the portfolio's nominal output (30 MW) was sold
with the Finnish wind farms. Nevertheless, electricity production at the solar parks and wind farms rose by around 8%
year-on-year to 533 GWh (2022: 493 GWh; forecast: 513 to 555 GWh), mainly due to technical optimizations.
The adjusted EBITDA of EUR 30.3 million (2022: EUR 50.4 million) exceeded the forecast of EUR 26 to 29 million. Thus,
the adjusted EBITDA margin was at a solid level of 68% (2022: 77%). The positive earnings contribution from the sale of
the Finnish portfolio amounted to EUR 5.5 million and is not included in adjusted EBITDA. The equity ratio rose
significantly to 44% in 2023 (2022: 35%) and offers a good starting position for future financing. Operating cash flow
amounted to EUR 16.6 million (2022: EUR 49.7 million). The decline is mainly due to the lower result.
Manuel Sieth, CFO of clearvise AG, comments: "In the 2023 financial year, we demonstrated the robustness of our
business model. We further strengthened our equity and increased our equity ratio by 9 percentage points as a result.
The operating cash flow was also very satisfactory despite the lower electricity prices. This is an excellent starting
point for our future selective growth."
Outlook for 2024
The electricity production of the existing portfolio is expected to amount to 440 to 460 GWh under normal weather
conditions. This is based on the assumption of an unchanged portfolio. In 2023, the Finnish wind farms contributed 66
GWh to production. The volatility of electricity prices remains high, making it difficult to make a reliable price
forecast. clearvise is therefore forecasting revenue in a range of EUR 35.5 to 37.0 million on the basis of secured
prices through PPAs (Purchase Power Agreement) or the respective tariffs less expenses for electricity marketing. Group
EBITDA adjusted for special effects is expected to be in the range of EUR 21.8 million to EUR 23.1 million due to the
lower revenue.
The 2023 Annual Report is available for viewing on the company website in the Investor Relations section at http://
www.clearvise.de/.
About clearvise
clearvise AG is an independent producer of electricity from renewable energies with a diversified European investment
portfolio of onshore wind and solar parks.
Based on a three-pillar acquisition strategy, the company is focussing on profitably expanding its portfolio and
creating added value for all stakeholders with the individual clearSWITCH, clearPARTNERS and clearVALUE models. The
shares of clearvise AG (WKN A1EWXA / ISIN DE000A1EWXA4) have been listed on the stock exchange since 2011 and are
currently traded on the open market of various German stock exchanges and via XETRA (www.clearvise.com).
Contact
Company contact Media contact

clearvise AG                           Kirchhoff Consult GmbH 
Andreas Riedel                         Jan Hutterer 
Phone: +49 (0)160 - 6938984            Phone: +49 40 60 91 86 65 
E-mail: andreas.riedel@clearvise.com   E-mail: clearvise@kirchhoff.de 

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2024-04-30 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com

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Language:     English 
Company:      clearvise AG 

Eschenheimer Anlage 1
60316 Frankfurt / Main
Germany

Phone:        +49 (0) 69 247439232 
E-mail:       info@clearvise.com 
Internet:     www.clearvise.com 
ISIN:         DE000A1EWXA4 
WKN:          A1EWXA 
Listed:       Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Hamburg, Munich, Stuttgart 
EQS News ID:  1892117 

End of News EQS News Service
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1892117 2024-04-30 CET/CEST

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END) Dow Jones Newswires

April 30, 2024 02:30 ET (06:30 GMT)