Brief: 7C Solarparken Presents Its Next Three Years Plan

7C Solarparken AG

10/12/2019 07:39

Dec 10 (Reuters) - 7C SOLARPARKEN AG  HRPKk.DE :
    * PRESENTS ITS NEXT THREE YEARS PLAN
    * PLANS TO SHIFT SHORT-TERM FOCUS ON INTEGRATION AND
OPTIMISATION,
WHILE STILL PLANNING TO MEET ITS CAPACITY TARGET OF 220 MWP AT
END OF 2020
    * MANAGEMENT PLANS TO INCREASE OPERATIONAL EFFICIENCY OF
MULTIPLE
OPERATING PARKS
    * HAS SUBMITTED A TAKEOVER BID ON LARGEST UNDERPERFORMING
FUND
WHICH IT CONSIDERS UNSUITABLE FOR RETAIL INVESTORS DUE TO
TECHNICAL RISKS
    * ASSUMES CONTROL (AND FULL CONSOLIDATION) CAN BE ACHIEVED,
EVEN
WITH A MINORITY POSITION, AS FROM 2021
    * EXPECTS TO GENERATE ANNUAL EBITDA OF EUR 42 MIO AND A CASH
FLOW
PER SHARE OF EUR 0.57 AS FROM 2021
    * GROUP'S DIVIDEND POLICY REMAINS UNCHANGED
    * ENTIRE INTEGRATION PROGRAM WILL COST EUR 7.2 MIO
    * DIVIDEND FOR FINANCIAL YEAR 2019 WILL REMAIN STABLE AT EUR
0.11/SHARE
    * SUCCESSFULLY CLOSED RIGHTS ISSUE OF EUR 8 MIO. ENABLES
PROMPT
EXECUTION OF INTEGRATION PLAN

Source text for Eikon:  ID:nPexrhRWCa 
Further company coverage:  HRPKk.DE 

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