ENCAVIS share: ENCAVIS lowers annual targets

The renewable energy company ENCAVIS AG has lowered its annual targets for 2023 due to the ongoing war in Ukraine and the resulting high energy prices.

Instead of the previously targeted sales of 360 to 390 million euros, ENCAVIS now expects sales of 330 to 360 million euros. The adjusted EBITDA is also expected to be lower at 210 to 230 million euros instead of the previously forecast 240 to 260 million euros.

The main reason for the adjustment is the war in Ukraine, which has led to high energy prices and increased uncertainty in the energy markets. This has made it more difficult for ENCAVIS to plan its business and to secure long-term contracts.

Despite the lowered targets, ENCAVIS remains confident in its long-term growth prospects. The company is continuing to invest in new renewable energy projects and is expecting to benefit from the growing demand for renewable energy in the coming years.

The ENCAVIS share price has fallen by around 10% since the beginning of the year. However, the company's fundamentals remain strong and it is well-positioned to benefit from the long-term growth in the renewable energy market.

Conclusion

ENCAVIS is a leading renewable energy company with a strong track record and a bright future. The company's lowered annual targets for 2023 are a reflection of the current challenges in the energy markets. However, ENCAVIS remains confident in its long-term growth prospects and is well-positioned to benefit from the growing demand for renewable energy in the coming years.