H1-2018 results broadly in line with expectations; FY-2018 guidance confirmed
Innogy unveiled this morning H1-2018 adjusted EBIT and adjusted net income of respectivelyEUR1,553m (consensus at EUR1,575m) and EUR662 (consensus at EUR665m), sharply down yoy
mainly due to one-off effects in Germany and adverse competition dynamics in the retail markets. FY-
2018 guidance has been confirmed. All eyes remain on the evolution of the E.ON/RWE operation
following the rather low acceptance rate achieved by E.ON in the recent PTO. Our FV at
EUR33.0/share (12% downside vs. current company�s share price) is unchanged.
Innogy SE is a Germany-based company, which is primarily involved in the utilities industry. The Company operates as a provider of electricity and natural gas. The Company's operations are divided into three segments, namely Renewables, Grid and Infrastructure and Retail. The Company operates plants for electricity generation and production from renewable energy sources. The Company is active in Germany, the Netherlands, Austria, Poland, Romania, Croatia, Slovakia, Slovenia, the United Kingdom, among others.
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.