EVN reported a mixed set of FY17/18 results. Sales were down by 6.5% on lower thermal output and warmer weather. However, EBIT was up 13% as it benefited from positive comps (last year’s P&L was impacted by impairment losses in the generation business), lower D&A expenses and lower cost of materials. Net debt decreased by 20%, to €963.7m, allowing gearing to reach 23.5%. Management gave a conservative €160-180m FY18/19 bottom-line guidance.
13 Dec 2018
Warmer weather and regulatory headwinds slow the FY17/18 results
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Warmer weather and regulatory headwinds slow the FY17/18 results
EVN AG (EVN:WBO) | 0 0 1.6% | Mkt Cap: 2,928m
- Published:
13 Dec 2018 -
Author:
Edouard Enault -
Pages:
3
EVN reported a mixed set of FY17/18 results. Sales were down by 6.5% on lower thermal output and warmer weather. However, EBIT was up 13% as it benefited from positive comps (last year’s P&L was impacted by impairment losses in the generation business), lower D&A expenses and lower cost of materials. Net debt decreased by 20%, to €963.7m, allowing gearing to reach 23.5%. Management gave a conservative €160-180m FY18/19 bottom-line guidance.