Report
Louis Boujard, CFA ...
  • Philippe Ourpatian

Enel : Un S1 20 un peu inférieur aux attentes et la matérialisation des risques 2020

>Recommandation Achat et OC ajusté à 8.6 € vs 7.8 € - Le groupe a publié des performances récurrentes du S1 2020 globalement un peu inférieures à nos attentes pour ce qui est de l’EBITDA, de l’EBIT récurrent et du RNpg. Le groupe a révisé à la baisse sa trajectoire 2020, avec une guidance d’EBITDA de 18.6 Md€ à 18.0 Md€ et un RNpg ordinaire compris entre 5.0 Md€ et 5.2 Md€ vs 5.4 Md€ antérieurement. Dès lors, nous avons ajusté nos estimations de 2020 de -5%. Nous cons...
Underlying
Enel SpA

Enel Societa Per Azioni is engaged in the generation and sale of electricity through its Generation, Energy Management and Sales Italy Division. Co. is also engaged in the distribution of electricity (Enel Distribuzione) and public and artistic lighting (Enel Sole) in Italy through its Infrastructure and Networks Division. Co.'s Iberia and Latin America Division coordinates Co.'s operations in the electricity and gas markets in Spain, Portugal and Latin America. Co.'s Engineering and Research Division manages the engineering processes related to the development and construction of power plants. Co.'s other divisions are the International Division as well as the Renewable Energy Division.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Louis Boujard, CFA

Philippe Ourpatian

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