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  • EQS Group

    ENCAVIS AG: Encavis Group releases cash reserves through sale of minority interests in wind parks and raises guidance for full year 2019

    DGAP-News: ENCAVIS AG / Key word(s): Forecast/Strategic Company Decision 28.05.2019 / 16:32 The issuer is solely responsible for the content of this announcement. * * * Corporate NewsEncavis Group releases cash reserves through sale of minority interests in wind parks and raises guidance for full year 2019 Hamburg, May 28, 2019 - Encavis Asset Management AG, a 100% subsidiary of the SDAX-listed Hamburg-based solar and wind park operator Encavis AG (ISIN: DE0006095003, Prime Standard), has sold 49 percent of the shares in each of the four German wind parks 'Briest', 'Breitendeich', 'Debtstedt' and 'Lunestedt' on behalf of Encavis AG to a special fund managed in Luxembourg for an institutional customer. Subject to the upcoming antitrust investigation, Encavis AG will receive 24 million euros in cash. The strategic decision of the Encavis Group to sell minority interests of up to 49 percent in selected wind and solar parks to institutional investors in the future releases existing cash reserves for investments in further projects, confirms the balance sheet valuations of the assets of the existing portfolio (according to IFRS) and results in book profits in the individual financial statements (according to HGB). "The sale of minority interests in four wind parks to a special fund of an institutional customer of Encavis Asset Management will be the guideline for the even stronger exploitation of the potential of our internal financing power in the future. These funds allow us to acquire further wind parks in order to further diversify our portfolio of wind farms," said Dr. Dierk Paskert, CEO of Encavis AG, explaining the Group's strategic direction.The respective sales price achieved for the individual wind parks confirms the balance sheet valuations according to IFRS in the consolidated balance sheet. With respect to German accounting standards according to HGB, a book profit of more than 30 percent is realized on the wind parks acquired 2 to 3 years ago. "We are pleased to be able to provide evidence of the value of our existing portfolio with this transaction, which was concluded in competition with two international insurance companies. As this example shows, our selective acquisition and the technical and commercial optimization of our parks enable us to create considerable value. On the basis of this successful proof of value and against the background of the Group's very positive operating performance, we are raising our guidance for 2019 as a whole without taking into account the positive weather effects of the first quarter," said Dr. Christoph Husmann, CFO of Encavis AG, stressing the positive financial effects of this transaction.The Management Board now expects sales to rise to more than 260 million euros (previously more than 255 million euros) and operating EBITDA to increase to more than 210 million euros instead of the previously forecast 199 million euros. At Group level, the company anticipates an increase in operating EBIT to a good 125 million euros instead of 114 million euros. The Management Board expects the operating cash flow to reach a level of over 190 million euros (previously 188 million euros). This results in an increased forecast of operating earnings per share (EPS) for the full year 2019 of EUR 0.40 (previously EUR 0.35). About Encavis: Encavis AG (Prime Standard; ISIN: DE0006095003 / WKN: 609500) is a producer of electricity from renewable sources listed in the SDAX of Deutsche Börse. As one of the leading Independent Power Producers (IPPs), Encavis acquires and operates solar power plants and (onshore) wind farms throughout Europe. The plants for sustainable energy generation generate stable returns through guaranteed feed-in tariffs or long-term purchase agreements (PPAs). Within the Encavis Group, Encavis Asset Management AG specialises in the area of institutional investors. Encavis Technical Services GmbH is the Group's own service unit for the technical management of solar parks.Further information on the company can be found at www.encavis.com Contact:Encavis AGJörg PetersHead of Investor Relations & Public Relations Tel.: + 49 40 37 85 62-242 Fax: + 49 40 37 85 62-129 E-Mail: joerg.peters@encavis.com Contact: Encavis AG Jörg Peters Head of Investor & Public Relations \------------------------------------------------------------ Große Elbstraße 59 22767 Hamburg Fon: + 49 40 37 85 62-242 Fax: + 49 40 37 85 62-129 e-mail: till.giessmann@encavis.com http://www.encavis.com Twitter: https://twitter.com/encavis * * *28.05.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de * * * Language: English Company: ENCAVIS AG Große Elbstraße 59 22767 Hamburg Germany Phone: +49 4037 85 62 -0 Fax: +49 4037 85 62 -129 E-mail: info@encavis.com Internet: www.encavis.com ISIN: DE0006095003 WKN: 609500 Indices: SDAX Listed: Regulated Market in Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange EQS News ID: 816769 End of News DGAP News Service

  • EQS Group

    DGAP-DD: ENCAVIS AG english

    Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them 23.05.2019 / 15:07 The issuer is solely responsible for the content of this announcement. * * *1\. Details of the person discharging managerial responsibilities / person closely associated a) Name Title: Dr. First name: Dierk Last name(s): Paskert 2\. Reason for the notification a) Position / status Position: Member of the managing body b) Initial notification 3\. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor a) Name ENCAVIS AG b) LEI 391200ECRGNL09Y2KJ67 4\. Details of the transaction(s) a) Description of the financial instrument, type of instrument, identification code Type: Financial instrument linked to a share or a debt instrument Description: Subscription right, ISIN DE000A2TSJD1 b) Nature of the transaction Granting of 41.595,72289 subscription rights as part of a subscription rights capital increase c) Price(s) and volume(s) Price(s) Volume(s) 0.00 EUR 0.00 EUR d) Aggregated information Price Aggregated volume 0.00 EUR 0.00 EUR e) Date of the transaction 2019-05-21; UTC+2 f) Place of the transaction Outside a trading venue * * *23.05.2019 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de * * * Language: English Company: ENCAVIS AG Große Elbstraße 59 22767 Hamburg Germany Internet: www.encavis.com End of News DGAP News Service

  • EQS Group

    AGM of Encavis AG approves cash dividend of EUR 0.24 per share as well as alternatively the subscription of shares at a ratio of 35:1 and elects Dr. Marcus Schenck to the Supervisory Board

    DGAP-News: ENCAVIS AG / Key word(s): Dividend/AGM/EGM 15.05.2019 / 17:49 The issuer is solely responsible for the content of this announcement. * * * Corporate NewsAnnual General Meeting of Encavis AG approves cash dividend of EUR 0.24 per share as well as alternatively the subscription of shares at a ratio of 35:1 and elects Dr. Marcus Schenck to the Supervisory BoardHamburg, June 15, 2019 - The Annual General Meeting of the SDAX-listed Hamburg-based solar and wind park operator Encavis AG (Prime Standard; ISIN: DE0006095003 / WKN: 609500), approved a further increase in the cash dividend to EUR 0.24 per share (previous year: EUR 0.22) with an acceptance rate of 92.96 %. This is already the seventh consecutive increase of the dividend, moving towards a target dividend of EUR 0.30 in the year 2021. For the sixth time in a row, shareholders can choose to receive a cash dividend of EUR 0.24, new shares at a ratio of 35:1 (for 35 existing shares the shareholder receives one new share) or a combination of both options. The payment of the cash dividend of EUR 0.24 per dividend-bearing share as well as the delivery of the new shares in the shareholders' securities accounts is scheduled for June 18, 2019.The Annual General Meeting elected Dr. Marcus Schenck to the Supervisory Board of Encavis AG with the approval of 99.78 %. Dr. Schenck is currently a partner at Perella Weinberg Partners in London and has impressive experience in the banking and energy sectors as Chief Financial Officer of E.ON and Deputy CEO of Deutsche Bank as well as a partner at Goldman Sachs. He succeeds Prof. Dr. Klaus-Dieter Maubach, who resigned from his office as a member of the Supervisory Board of Encavis AG at the end of this Annual General Meeting."We are delighted to have won Dr. Schenck, a proven expert in the energy and finance sector, for the Supervisory Board of Encavis AG", Dr. Manfred Krüper, Chairman of the Supervisory Board, welcomed the newly elected Supervisory Board colleague and once again thanked Prof. Maubach in particular for his commitment and personal dedication to Encavis AG, both as a member of the Management Board as well as a member of the Supervisory Board. About Encavis: Encavis AG (Prime Standard; ISIN: DE0006095003 / WKN: 609500) is a producer of electricity from renewable sources listed in the SDAX of Deutsche Börse. As one of the leading Independent Power Producers (IPPs), Encavis acquires and operates solar power plants and (onshore) wind farms throughout Europe. The plants for sustainable energy generation generate stable returns through guaranteed feed-in tariffs (FIT) or long-term power purchase agreements (PPAs). Within the Encavis Group, Encavis Asset Management AG specialises in the area of institutional investors. Encavis Technical Services GmbH is the Group's own service unit for the technical management of solar parks.Further information on the company can be found at www.encavis.com Contact:Encavis AG Grosse Elbstrasse 59 D-22767 HamburgJörg Peters Head of Investor Relations & Public Relations Tel.: + 49 40 37 85 62-242 Fax: + 49 40 37 85 62-129 E-Mail: joerg.peters@encavis.comhttp://www.encavis.com https://twitter.com/encavis * * *15.05.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de * * * Language: English Company: ENCAVIS AG Große Elbstraße 59 22767 Hamburg Germany Phone: +49 4037 85 62 -0 Fax: +49 4037 85 62 -129 E-mail: info@encavis.com Internet: www.encavis.com ISIN: DE0006095003 WKN: 609500 Indices: SDAX Listed: Regulated Market in Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange EQS News ID: 811955 End of News DGAP News Service

  • Reuters - UK Focus

    European shares give up gains as banks weigh amid concerns on growth, Brexit

    European shares pared early gains to finish lower on Thursday as optimism around some progress in U.S.-China trade talks were outweighed by losses in banks amid a gloomy outlook for global economic growth and uncertainties around Brexit. The pan-region STOXX 600 index slipped 0.1 percent, with Frankfurt's trade-sensitive index DAX giving up most gains to close 0.08 percent lower, while Madrid and Milan slipped more than half a percent each.

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