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7C Solarparken AG: A 59% Increase in EBITDA to EUR 66.8 Mio. during the first nine-Months 2022. Full-year Guidance raised

Bayreuth (pta035/29.11.2022/17:35 UTC+1)

Bayreuth-based solar park operator 7C Solarparken AG ((WKN: A11QW6 / ISIN: DE000A11QW68) announced nine-months results, largely above last year. EBITDA rose by 59% to EUR 66.8 Mio on the back of (i) better weather conditions, (ii) substantial capacity growth and (iii) elevated electricity prices. Amid a hot debate on electricity price caps across Europe, management has assumed a EUR 3.3 Mio provision to cover a retroactive cap as from 1st September, 2022. The group increased power production by 31% to 309 GWh backed by an increase of weighted capacity of 21% to 340 MWp and a 10% rise in specific yield to 909 kWh/kWp.

  • Revenues rose even more sharply thanks to the development in PV power price from EUR 63/MWh in the first nine-months of 2021 to EUR 219/MWh in the corresponding period in 2022. Reflecting a well-spread mix of plants operating under fixed feed-in tariffs, variable direct sale prices (i.e. market price + market premium) and a hedge agreement (EUR 149.5/MWh) on ca. one quarter of the portfolio, the group's capture price rose from EUR 198/MWh to EUR 238/MWh. As a result, revenues rose by 56% to EUR 74.1 Mio.
  • Revenues however include a provision of EUR 3.3 Mio related to the price cap debate in Europe, particularly in Germany. For Belgium, management adopts EUR 0.6 Mio less revenues due to assumed retroactivity as from 1st January 2022. For Germany, a provision of EUR 2.6 Mio is reflected in the figures already due to a likely retro-active measure as from 1st September 2022.
  • Due to a largely fixed cost structure, EBITDA even increased by 59% to EUR 66.8 Mio. The strong cash flows resulted in a reduction of net debt to EUR 135 Mio.

Likewise, management has raised EBITDA and CFPS guidance for the full-year to EUR 70 Mio and EUR 0.70/share, versus EUR 61.8 Mio and EUR 0.67/share respectively.


Emitter: 7C Solarparken AG
An der Feuerwache 15
95445 Bayreuth
Contact Person: Koen Boriau
Phone: +49 921 230557-77
ISIN(s): DE000A11QW68 (Share)
Stock Exchange(s): Regulated Market in Frankfurt; Free Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate
Other Stock Exchanges: London