ERM Power - Refocusing on core business
ERM Power is refocusing on its core business by selling the US business and investing in the highest growth part of its Australian activities. We have increased our forecasts to reflect the accretive effect of the recent transactions and see more upside potential to the share price following the recent recovery as valuation multiples appear undemanding and the dividend yield is attractive.ERM Power is engaged in the electricity sales to businesses in Australia and the United States of America; the generation of electricity; and the energy solutions. Co.'s segments include Business Energy Australia, which provides electricity sales to business customers in Australia; Business Energy US, which provides electricity sales to business and residential customers in the U.S.; Generation Assets, which provides gas-fired power generation assets and delivery of power generation solutions; and Other, which provides gas, metering, data analytics and lighting solutions.
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