Neoen - Q3 down, but pipeline continues to grow in line with long-term objectives
Sales down 8% in Q3, below our forecasts but due to a smaller proportion of spot sales than last year2023 guidance and 2025 ambitions maintainedProject pipeline continues to grow in line with our forecastsAdd opinion maintained and target price lowered to €29/shareNeoen SA Formerly known as Neoen Sas. Neoen SAS is a France-based company specialized in the renewable energy sector. The Company operates, finances and develops a number of power plants from a variety of energy sources, including Solar, wind and Biomass. Its portfolio of power plants includes providencia, ombrineo, degrussa, cestas, ygos, luxey, geloux, seixal, cabrela, coruche, hornsdale I, bussy-lettree, raucourt II, villacerf, bais et trans, reclainville, chapelle vallon and la montagne. Apart from France, the Company is present in many other countries such as Portugal, Australia, Australia, Jordan, Zambia, Mozambique, Argentina, Jamaica, Mexico, Egypt and El Salvador, among others.
We are an investment house with Belgian roots founded on more than 150 years of trust.
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