- Wind farm development is being driven by 3U
- Commissioning in spring 2016
- Sales and earnings impact in 2015 is more than offset by future sales and profits
Marburg, December 20, 2015 – 3U HOLDING AG (ISIN DE0005167902) had announced the sale of a wind farm project with 2 wind turbines each of 3.3 MW on September 28, 2015. Today the parties have stated that there is no consensus alternative to rescind the contract.
The execution of the purchase contract and the amount as well as the maturity of the purchase price was conditioned upon the occurrence of various terms and scenarios. Associated with these were mutual rights of subsequent improvement resp. withdrawal. It has been determined on both sides that some conditions were not met, and so the contract was cancelled.
3U ENERGY PE GmbH will push ahead the construction of the wind farm, so that the initial operation is still scheduled for the second quarter 2016.
The shift of sales and earnings in coming reporting periods has a corresponding impact on the consolidated figures for the current year. The essential target figures will barely reach the lower limit of the prognosis to date:
| Business year 2015 | Prognosis to date | Prognosis updated |
|---|---|---|
| Sales (in EUR m) | 50 – 53 | 47 – 50 |
| EBITDA (in EUR m) | 4.0 – 6.0 | 3.5 – 4.5 |
| Earnings (in EUR m) | -1.0 – 1.0 | -1.3 – -0.9 |
By advancing the wind farm Lüdersdorf II project under own responsibility a greater share of value added remains in the 3U Group. Accordingly, the sales and earnings impact in 2015 will be more than offset by future sales and earnings.
In addition, it must be noted that in the fourth quarter 2015 the first positive quarterly earnings at the Group level of the last four years is expected, despite the lack of the one-off effect of the sale proceeds.
A forecast for the 2016 financial year will be announced in the first quarter of 2016. The consolidated financial statements 2015 will be published on March 22, 2016.
Contact:
Peter Alex
Head of Investor Relations
3U HOLDING AG
Frauenbergstraße 31-33
35039 Marburg
Tel.: +49 (0)6421-999-1200
Fax.: +49 (0)6421-999-1222
Mobil: +49 (0)162-249 96 74
Email: ir@3u.net
www.3u.net