Report
Pierre-Antoine Chazal

INNOGY: FY-2018 guidance confirmed, mainly thanks to one-offs | NEUTRAL | EUR33

INNOGY - NEUTRAL | EUR33(-17%)
FY-2018 guidance confirmed, mainly thanks to one-offs

Adjusted EBIT is down 11% yoy but in line with consensus
Adjusted net income slightly above consensus expectations
FY 2018 guidance confirmed at the group level…
…but driven by higher one-off effects in the G&I division
Underlying
Innogy SE

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.

Provider
Bryan Garnier
Bryan Garnier

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.

Analysts
Pierre-Antoine Chazal

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