The group has published its FY16 results with weaker than expected sales as they have decreased by 6% yoy to €14,595m. Following this, the reported EBITDA has decreased by 4% yoy to €3,759m, mainly due to one-offs incurred in 2015 (+€441m). However, on an adjusted basis, EBTIDA improved by 6% yoy to €3,698m due to a strong hydro performance and a 6% expansion in capacity. Higher financial expenses from the repurchase of high interest bonds has been more than offset by lowe
03 Mar 2017
A hidden profit warning with no guidance upgrade?
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A hidden profit warning with no guidance upgrade?
EDP-Energias de Portugal SA (EDP:FRA) | 0 0 1.5% | Mkt Cap: 10,242m
- Published:
03 Mar 2017 -
Author:
Juan Camilo Rodriguez -
Pages:
4
The group has published its FY16 results with weaker than expected sales as they have decreased by 6% yoy to €14,595m. Following this, the reported EBITDA has decreased by 4% yoy to €3,759m, mainly due to one-offs incurred in 2015 (+€441m). However, on an adjusted basis, EBTIDA improved by 6% yoy to €3,698m due to a strong hydro performance and a 6% expansion in capacity. Higher financial expenses from the repurchase of high interest bonds has been more than offset by lowe