Senvion announces launch of cash capital increase

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Senvion announces launch of cash capital increase
Further equity to add flexibility and support significant growth in new markets by 2019

Hamburg: Senvion S.A. today announced the launch of an accelerated book-building to implement a capital increase for cash of approximately EUR 62.5 million, under exclusion of shareholders' preemptive rights. Senvion intends to use the net proceeds in particular to capture growth opportunities and to fund its expansion in new markets, such as India, with incremental capital that enhances Senvion ability to provide support for working capital and capital expenditures and seize opportunities for strategic co-development projects.

Manav Sharma, acting Chief Executive Officer and Chief Financial Officer at Senvion, said: "We have seen almost 400% order increase in new markets year-over-year and we expect 20-40% revenue growth in 2019. We are meeting or even exceeding our own market share targets in key regions. We see that we can capture even further potential in these markets by providing support in terms of enhanced production capacities, working capital flexibility and creating optionality via strategic co-investments. The commitment of Senvion's main shareholders minimizes the placement risk and furthermore reflects their strong belief in the sustainable growth of the company."

The new shares will be offered exclusively to institutional investors by way of an accelerated book-building. Joh. Berenberg, Gossler & Co. is acting as sole book-runner in connection with the
EUR 62.5 million committed placement of new shares yielding gross proceeds of EUR 25 million by way of a backstop obligation. Senvion's major shareholders, affiliates of funds managed by Centerbridge Partners, have agreed to purchase new shares in the Offering yielding gross proceeds of EUR 37.5 million at the placement price.

Senvion has significantly increased its activity in new markets like India, Australia, Spain and South America. For example, in 2018, the company already announced about 680 MW orders in India, with a potential to develop an even bigger order pipeline in next few quarters. It has always been a core belief of the company that production capacities should be aligned with the long-term market developments to stay ahead of the competition. Given the already overbooked capacity in India, an expansion is needed to reflect the ongoing growth oriented market development. This also applies to markets such as Australia, Chile and Argentina, where Senvion has been increasing its market share with an order intake of over 1.3 GW and sees great potential for future growth.

Steven Holliday, Chairman of the Supervisory Board, added: "I stand behind the management and their growth plans. This fully supported transaction from Berenberg and from Senvion's majority shareholder Centerbridge, reinforces our confidence that with financing for the existing growth opportunities, this company can create significant shareholder value in the long-term."

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About Senvion:
Senvion is a leading global manufacturer of onshore and offshore wind turbines. The company develops, produces and markets wind turbines for almost any location - with rated outputs of 2 MW to 6.33 MW and rotor diameters of 82 metres to 152 metres. Furthermore, the company offers its customers project specific solutions in the areas of turnkey, service and maintenance, transport and installation, as well as foundation planning and construction. The Senvion systems are mainly designed in the major TechCenters in Osterrönfeld and Bangalore and manufactured at its German and Portuguese plants in Bremerhaven, Vagos and Oliveira de Frades as well as in Żory-Warszowice, Poland and Baramati, India. With approximately 4,200 employees worldwide, the company makes use of the experience gained from the manufacture and installation of more than 7,500 wind turbines around the world. The company's operational subsidiary Senvion GmbH is based in Hamburg and represented by distribution partners, subsidiaries and participations in European markets such as France, Belgium, the Netherlands, the UK, Italy, Romania, Portugal, Sweden, and Poland as well as on a global level in the USA, China, Australia, Japan, India, Chile and Canada. Senvion S.A. is listed on the Prime Standard of the Frankfurt Stock Exchange.

Katrin Rosendahl
phone: +49 40 5555 090 3040
mobile: +49 173 3687 185
email: katrin.rosendahl@senvion.com

Senvion Investor Relations contact:
Dhaval Vakil
phone: +44 20 3859 3664
mobile: +44 7788 390 185
email: dhaval.vakil@senvion.com