Clearvise AG Reports a Strong Financial Performance for 2023

Clearvise AG, an independent renewable energy producer, has reported strong preliminary results for the fiscal year 2023, surpassing its earnings forecast. Despite a challenging market environment and a smaller asset base due to the sale of a wind park portfolio in Finland, the company's key financial metrics have outperformed expectations.

The consolidated revenue for 2023 was EUR 44.8 million, at the upper end of the expected EUR 42 to 45 million range. This represents a decrease from the 2022 revenue of EUR 64.0 million, primarily due to normalized lower electricity prices and asset sales. Adjusted EBITDA for the year increased to EUR 30.3 million, exceeding the forecast of EUR 26 to 29 million. Furthermore, electricity production grew by 8% to 533 GWh.

Clearvise's equity ratio improved significantly from 35% in 2022 to 44% in 2023, enhancing the company's financial stability and capacity for future debt financing. CFO Manuel Sieth expressed optimism about the financial outcomes and highlighted the effectiveness of the company's portfolio management despite selling the Finnish wind farms.

Final financial results for 2023 and forecasts for 2024 will be detailed in Clearvise AG's annual report, scheduled for publication on April 30, 2024. The company continues to focus on growth and diversification within the renewable energy sector.