Innogy Reports a Poor Start to 2019 and Confirms FY Guidance
We reiterate our fair value estimate of EUR 40 per share along with our no-moat, stable trend ratings after Innogy released first-quarter results slightly below consensus' expectations and reiterated its full-year guidance. Our fair value estimate is in line with the takeover price from E.On. Headwinds experienced by Innogy's retail businesses, which will be acquired by E.On, highlight the weak rationale of the deal with RWE for the latter.Adjusted EBIT tumbled by 22% to EUR 0.96 billion. As ex...
Innogy SE is a Germany-based company, which is primarily involved in the utilities industry. The Company operates as a provider of electricity and natural gas. The Company's operations are divided into three segments, namely Renewables, Grid and Infrastructure and Retail. The Company operates plants for electricity generation and production from renewable energy sources. The Company is active in Germany, the Netherlands, Austria, Poland, Romania, Croatia, Slovakia, Slovenia, the United Kingdom, among others.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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