Outlook: The pursuit of growth
Investment led growth appears set to supplement the core profitability provided by the existing long-term contracts in Albioma’s thermal generation business. Successful implementation of Albioma’s investment plan will generate growth, although we now expect this to occur after 2016. Our valuation analysis, based on the successful implementation of the programme, indicates an average valuation of c €24/share.Albioma is an independent energy producer that develops projects in the thermal biomass, solar power, and anaerobic digestion sectors. Co. provides industrial partners with expertise in energy production via hybrid combustion of biomass. In addition, Co. produces biogas by biological decomposition of organic matter in a confined oxygen-free medium, which it either converts into electricity and heat or purifies and then injects into the gas transmission network. It operates facilities on Reunion Island, Mayotte, Guadeloupe, Martinique, and French Guyana, mainland France and Southern Europe. Co. divides its operation into three segments: Thermal Biomass, Solar Power, and Anaerobic Digestion.
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