IR-News & Press

 
2016-12-15

3U HOLDING AG: Windpark Schlenzer will not be sold this year

  • Sales negotiations ended
  • Future sale of the wind park remains possible
  • Scheduled commissioning of the wind farm will take place in January 2017
  • The absence of a earning contribution in 2016 is significantly overcompensated by future earnings

Marburg, December 15, 2016 - In the segment Renewable Energies, 3U HOLDING AG (ISIN DE0005167902) pursues the strategy of selling wind power plants erected or shortly before erection, provided that the sale is more economical than the operation of the wind farm in stock. In the Quarterly Report III/2016, 3U informed that interested parties are currently conducting exploratory talks on the sale of Windpark Schlenzer, consisting of two wind turbines each with a nominal output of 2.75 MW. Recently, concrete sales negotiations were conducted between 3U ENERGY PE GmbH, which has planned and developed the wind farm project, and a negotiating partner on the basis of a customary purchase price.

The Management Board and the Supervisory Board have today decided to terminate the current sales process for the wind farm, since the required contractual terms do not make it appear sensible to sell the wind farm on the basis of the outlined strategy. A future sale of the wind park remains possible.

3U ENERGY PE GmbH will shortly complete the erection of the wind farm, so that commissioning will start unchanged at the beginning of January 2017.

As announced, the decision made, has a corresponding effect on the Group figures for the current financial year of 3U HOLDING AG. So the main profit-targets are expected to reach only the lower limit of the hitherto communicated bandwidths: 

Business year 2016Expectation to dateCurrent expectation
Sales (in EUR m)44-51approx. 44
EBITDA (in EUR m)5.0-8.0approx. 4.5
Earnings (in EUR m)0.5-2.5approx. 0.5

If Windpark Schlenzer is permanently operated on our own responsibility, the earnings contribution not realized in 2016 would be significantly overcompensated by future earnings.

A forecast for the 2017 financial year will be announced in the first quarter of 2017.