Energiekontor shares fall after 2024 earnings guidance disappoints

Energiekontor AG

28/03/2024 09:24

** German wind farm operator and project developer
Energiekontor's shares fall around 10% after its 2024 earnings
outlook disappointed
    ** Energiekontor expects most of the projects currently
under construction and the projects for which financial close is
planned in 2024 to be commissioned in the following two years
    ** It adds that group EBT for 2024 is expected to be
significantly lower than for 2023
    ** "The share reacts negative on the outlook as it implies
quite a sharp drop in EBT from 95m to 30-70m," Warburg Research
analyst Jan Bauer says
    ** None of the company's projects in Germany are expected to
sell in 2024 due to enlarged construction times and still tense
supply-chains, Bauer says
    ** In addition, grid access for projects in the UK was also
postponed, which makes a sale in 2024 also unlikely, the analyst
adds
    ** But, with a very well-filled project pipeline, 2025
should see a strong recovery, the analyst says


($1 = 0.9267 euros)

 (Reporting by Isabel Demetz)
 ((Isabel.demetz@thomsonreuters.com))