Corporate News

ENCAVIS Annual General Meeting decides once again with a clear majority to cancel the dividend in favour of further growth

Hamburg, 10^th June 2024 – The Annual General Meeting (AGM) of Hamburg-based wind and solar park operator Encavis AG (Prime Standard; ISIN: DE0006095003; ticker symbol: ECV), which is listed on the MDAX, again resolved to retain the entire consolidated earnings of Encavis AG. The result is to be carried forward to new account and not distributed as a dividend in order to once again support the accelerated growth of the Group from its own resources. The associated strengthening of equity supports the Group's increased growth ambitions.

All members of the Management Board and the Supervisory Board were granted discharge by very clear majorities. The amended compensation system for the members of the Management Board was also clearly approved after the audited compensation report for the financial year 2023 had already received the clear approval of the shareholders.

Ayleen Oehmen-Görisch, attorney at law at CMS Hasche Sigle Partnerschaft von Rechtsanwälten und Steuerberatern mbB, based in Frankfurt/Main, was elected to the Supervisory Board of Encavis AG by a very large majority of shareholders. Mrs Oehmen-Görisch succeeds Mr Albert Büll on the Supervisory Board, who had run for re-election for a term of only two years at the AGM in 2022, in order to continue the planned change of individual members of the Supervisory Board to a so-called “Staggered Board” at Encavis AG.

Dr Marcus Schenck, Head of DACH and member of the Global Management Committee Financial Advisory of Lazard, based in Munich, was re-elected to the Supervisory Board of Encavis AG also by a very large majority of shareholders.

“We are pleased that our shareholders have continued to show great interest in our Annual General Meeting of Encavis AG, even in the current takeover situation by KKR, Viessmann and ABACON, and that we were able to lead a lively discussion on the Group’s future growth potential and the progress of the takeover process,” said Dr Rolf Martin Schmitz, Chairman of the Supervisory Board, welcoming the interest of investors and shareholders in the Company’s physical Annual General Meeting in Hamburg-Heimfeld.

The detailed voting results as well as the speech text with the corresponding presentation charts of the Management Board of the Annual General Meeting of Encavis AG on 5 June 2024 can be downloaded from the Company’s website at:

https://www.encavis.com/en/green-capital/investor-relations/agm

About Encavis:
The Encavis AG (Prime Standard; ISIN: DE0006095003; ticker symbol: ECV) is a producer of electricity from Renewable Energies listed on the MDAX of Deutsche Börse AG. As one of the leading independent power producers (IPP), ENCAVIS acquires and operates (onshore) wind farms and solar parks in twelve European countries. The plants for sustainable energy production generate stable yields through guaranteed feed-in tariffs (FIT) or long-term power purchase agreements (PPA). The Encavis Group’s total generation capacity currently adds up to more than 3.5 gigawatts (GW), of which around 2.2 GW belong to the Encavis AG, which corresponds to a total saving of around 0.8 million tonnes of CO₂ per year stand-alone for the Encavis AG. In addition, the Group currently has around 1.2 GW of capacity under construction, of which around 830 MW are own assets.

Within the Encavis Group, Encavis Asset Management AG offers fund services to institutional investors. Another Group member company is Stern Energy S.p.A., based in Parma, Italy, a specialised provider of technical services for the installation, operation, maintenance, revamping and repowering of photovoltaic systems across Europe.

Encavis is a signatory of the UN Global Compact as well as of the UN PRI network. Encavis AG’s environmental, social and governance performance has been awarded by two of the world’s leading ESG rating agencies. MSCI ESG Ratings awarded the corporate ESG performance with their “AA” level and ISS ESG with their “Prime” label (A-).

Additional information can be found on www.encavis.com

Contact:
Encavis AG
Jörg Peters       
Head of Corporate Communications & Investor Relations
Tel.: + 49 40 37 85 62 242     
E-Mail: IR@encavis.com  
http://www.encavis.com