Clearvise AG Reports Decline in Revenue for First Nine Months of 2024

Clearvise AG disclosed its interim report for Q3 2024, confirming preliminary figures for the first nine months. The renewable energy company reported a consolidated revenue of EUR 27.5 million, marking an 18.6% decrease compared to the previous year. The decline is attributed to challenging energy market conditions. However, the company maintains its annual forecast for 2024.

Adjusted EBITDA was EUR 18.5 million, a drop of 21.5% year-on-year, influenced by declining sales. Despite this, operating cash flow rose to EUR 12.7 million from EUR 9.8 million last year. The equity ratio stood at approximately 42%.

Total energy generation was 351.2 GWh, down by 13.9%, largely due to the sale of Finnish wind farms. Conversely, photovoltaic systems increased production by 17.5%.

Clearvise forecasts electricity production of 440-460 GWh, depending on weather conditions. The company's sales forecast for 2024 stands between EUR 35.5 and 37.0 million.