Drax Group has issued its Q1 trading. This has seen electricity prices remain strong and the company has improved its forward hedging on the back of this. Ancillary services revenues have also been strong in the period and the company now expects full year EBITDA to be at the top of the range of analyst expectations. As a result, we have increased our forecasts and our central case valuation rises to 903p from 846p.
27 Apr 2022
Drax Group - Q1 Sees Price Strength Continue
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Drax Group - Q1 Sees Price Strength Continue
Drax Group plc (DRX:LON) | 489 30.3 1.3% | Mkt Cap: 1,892m
- Published:
27 Apr 2022 -
Author:
Adam Forsyth -
Pages:
7
Drax Group has issued its Q1 trading. This has seen electricity prices remain strong and the company has improved its forward hedging on the back of this. Ancillary services revenues have also been strong in the period and the company now expects full year EBITDA to be at the top of the range of analyst expectations. As a result, we have increased our forecasts and our central case valuation rises to 903p from 846p.