Report
Khaled Ben Amor ...
  • Louis Boujard, CFA

ODDO : Innogy Neutre maintenu avec un OC révisé à 31.0 € vs 31.5 € E.ON Neutre maintenu avec un OC révisé à 10.6 € vs 10.7 €

>Résultats T1 2019 en dessous des attentes… - Innogy a publié hier matin ses résultats du T1 2019, inférieurs à nos estimations et aux attentes du consensus. L’EBITDA ressort à 2.254 Md€ (vs ODDO BHF à 2.283 Md€ et cs à 2.280 Md€), -12% en yoy, l’EBIT ressort à 964 M€ (vs ODDO BHF à 1 050 M€ et cs à 1 014 M€) ou -22% en yoy et le résultat net ajusté est de 407 M€ (vs nos estimations à 488 M€ et cs à 458 M€), -33% en yoy. Pour 2019, Innogy a confirmé sa guidance d'un E...
Underlyings
E.ON SE

E.ON is an investor-owned energy company. The Generation global unit consists of all Co.'s existing (fossil and nuclear) generation assets in Europe. The Renewables unit is engaged in managing Co.'s carbonsourcing and renewables businesses. The Global Commodities unit buys and sells electricity, natural gas, liquefied natural gas, oil, coal, freight, biomass, and carbon allowances. The Exploration & Production unit is a active in the focus regions of the North Sea (U.K., Norway), Russia and North Africa. The New Build & Technology unit include Co.'s project-management and engineering operations to support the construction of new power plants and the operation of existing plants.

Innogy SE

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.

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
Khaled Ben Amor

Louis Boujard, CFA

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