In line with its first part of the year, EVN released a satisfying 9M 20/21 set of results. EBITDA came in 27.5% higher yoy, ahead of our expectations, driven by weather-related strong volumes in a very positive power price environment. In particular, its exposure to hydro generation and gas networks were key.
Business fundamentals are improving, partially explaining the very strong momentum of the stock (+25% since March 2021), even if the equity stake in Verbund is not unrelated.
Positive ....
26 Aug 2021
9M 20/21: good volumes, good prices, good momentum
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9M 20/21: good volumes, good prices, good momentum
In line with its first part of the year, EVN released a satisfying 9M 20/21 set of results. EBITDA came in 27.5% higher yoy, ahead of our expectations, driven by weather-related strong volumes in a very positive power price environment. In particular, its exposure to hydro generation and gas networks were key.
Business fundamentals are improving, partially explaining the very strong momentum of the stock (+25% since March 2021), even if the equity stake in Verbund is not unrelated.
Positive ....