ContourGlobal - 9M21 Trading Update
ContourGlobal has posted a solid 9M21 performance, led by the acquisition of the Western Generation Portfolio earlier this year.Both operationally and financially ContourGlobal had a strong 9 months, with significant growth across both thermal and renewable production. It generated 14.4% higher EBITDA and 11.1% higher Funds from Operations, the dividend grew 10% YoY, as expected, and guidance was re-iterated.
Management also undertook significant refinancing work in Brazil and the Caribbean during Q3, releasing cash totalling BRL 255m (c.$45.5m) from the former and $110m from the latter to the parent company. The crystallisation of the increased value of the Brazilian business is progressing and management is exploring a range of additional opportunities.
ContourGlobal is engaged in developing, acquiring, owning and operating wholesale power generation businesses with expertise across wind, solar, hydro and thermal generation. Co. is organized into two divisions: Thermal and Renewable. The Thermal division consists of plants using conventional fuels, specifically natural gas, coal, fuel oil and diesel. The Renewable division consists of plants using renewable resources of wind, solar and hydropower.
Capital Access Group advises companies on effective engagement with investors. Our experienced team offers market-leading access with hard-to-reach investors, including smaller institutions, pension funds and private client fund managers. These under-serviced investors are located not only in London but across the regions of the UK and Europe. We have an unrivalled knowledge of this extensive audience, to whom our published research is distributed, as well as to larger institutions. We offer this service as part of an integrated investor communications strategy to promote a company’s investment story.
Our clients, ranging from AIM to FTSE 100 companies, benefit from our professional, long-term relationships with investors. Not only do we identify and target investors, we contact them directly and relay their views back to clients with analysis, interpretation and advice. This ensures that our clients are in control of their investor engagement. The objective is to improve the reach and engagement with investors, which in turn strengthens the share price.
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