Neoen released little information relative to its first quarter. Revenue was down by 16% yoy, even though electricity generation increased by 13%. Storage activity in Australia is to blame, hurt by the unfavourable high base of comparison.
The group has also confirmed its FY21 guidance. Even if we target the top of the range, we confirm our cautious view on the stock.
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Neoen released little information relative to its first quarter. Revenue was down by 16% yoy, even though electricity generation increased by 13%. Storage activity in Australia is to blame, hurt by the unfavourable high base of comparison.
The group has also confirmed its FY21 guidance. Even if we target the top of the range, we confirm our cautious view on the stock.