IR-News & Press

 
2017-08-29

3U HOLDING AG announces the sale of Windpark Schlenzer

Disclosure of an inside information acc. to Article 17 MAR

 

Marburg, August 29, 2017 - 3U HOLDING AG (ISIN DE0005167902) announces that today its subsidiary 3U ENERGY AG sold Windpark Schlenzer, a wind farm project consisting of two wind turbines each with a nominal output of 2.75 MW.

The sale was made on the basis of an investment book value of around EUR 12.4 million. The sale reduces the leverage in the Group by approximately EUR 9.3 million.

Purchaser of the 100% business share of Windpark Havelland Projekt I GmbH & Co. KG, the company, which owns all the assets of the Windpark Schlenzer, is Green City Energy AG from Munich. A future partnership for further projects will be sought.

The execution of the contract is subject to conditions. If these conditions are not met by December 15, 2017, there are rights of withdrawal for Green City Energy AG and 3U ENERGY AG. From today's point of view, we consider the fulfilment of the conditions to be very likely.

The sale of the wind park will take place with economic effect as of January 1, 2017. It leads to a corresponding sales realization in the segment Renewable Energies and therefore has an influence on the Group’s key figures for the current year. It must be taken into account that a future earnings contribution of approximately TEUR 800 is dependent on external factors, to which 3U HOLDING AG has only limited influence. The previous forecast for fiscal year 2017 is hereby amended as follows: 

Business year 2017Forecast to dateCurrent forecast
Sales (in EUR m)44 - 4950 - 56
EBITDA (in EUR m)4.5 - 6.55.5 - 7.5
Earnings (in EUR m)0.5 - 1.50.5 - 1.5