EBITDA decreased by 4% and came in at €156m. Group net result was broadly flat at €53m. The group suffered from tough comps for Italian wind conditions and overall lower electricity prices, partly offset by the good asset expansion outside Italy (wind production outside Italy was up by 46%). For the rest of the year, investment in solar energy is expected to drive growth. The group confirms its new guidance. No change in our model is expected.
14 May 2020
Q1 20 - in line
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Q1 20 - in line
ERG S.p.A. (ER9:FRA) | 0 0 0.5% | Mkt Cap: 2,411m
- Published:
14 May 2020 -
Author:
Auguste DERYCKX LIENART -
Pages:
2
EBITDA decreased by 4% and came in at €156m. Group net result was broadly flat at €53m. The group suffered from tough comps for Italian wind conditions and overall lower electricity prices, partly offset by the good asset expansion outside Italy (wind production outside Italy was up by 46%). For the rest of the year, investment in solar energy is expected to drive growth. The group confirms its new guidance. No change in our model is expected.