Elia Group FY23 Results, underlying strength hidden by provisions in GE
Elia Group reported FY23 Net profit to shareholders of 324.5m vs. our 337.3m expected and FY23 EPS of 4.41 vs. our estimate of 4.59. While ETB performed 7.6m above our net profit estimate, 50Hrtz came 11.9m below our estimate on lower financial results by -60.9m YoY. The financial shortfall is due to a revaluation of provision for congestion income due to exceptional interest rate volatility at the end of the year (-74.2m). The FY24 outlook is reiterated with the same outlook for the 3 divisions as given at the CMD. The Capex outlook FY24 is GE is running a bit faster at 3.3bn vs. 3.2m expected. At the December CMD Elia detailed the ambitious 30.1bn 5-year Capex plan, financed in part by a 4bn capital injection (Elia share). However, the first transaction will not happen in FY24 and Elia will finance Capex with debt. Analyst call at 10H00.Elia System Operator develops, operates and maintains very-high-voltage (380 kV, 220 kV and 150 kV) and high-voltage (70 kV, 36 kV and 30 kV) networks, providing its customers with consultancy and engineering services. Whether in Belgium, Germany or elsewhere in Europe or the U.S., Co. ensures that electricity flows reliably from energy producers to distributors and large corporate customers. Co.'s main activities include transmission operator, system operator and market facilitator, developing and maintaining grid infrastructure, connecting electrical installations to grids, providing transparent access to grids, while taking initiatives to improve electricity market operations.
We are a financial services provider for several types of professional clients, each with distinct needs.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.