ERG : 9M 2023 in line, guidance 2023 bracket narrowed slightly upward
>9M 2023 in line with expectations - The company has just released its figures for 9M 2023, which are in line with our expectations and market estimates. Recurring EBITDA came in at € 365m (-6.4%), in line with the € 365m we expected and the FactSet consensus average (€ 370m). This earnings trend is mainly due to very unfavorable wind conditions in the second quarter in a context of lower prices captured during the period compared to the particularly high prices of th...ERG is engaged in the generation of energy from renewable sources and from thermoelectric plants, in the marketing of electricity, steam and gas, in the refining, marketing and distribution of petroleum products both in Italy and abroad. Co., also through its own subsidiaries and joint ventures with primary international operators, operates in the following segments: renewable energy sources, under which Co. operates through its ERG Renew S.p.A. subsidiary in the wind power generation business; power and gas, which includes the production and marketing of electric energy, steam and gas; and refining and marketing, which includes the results of Coastal Refining and Integrated Downstream.
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.
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