Grenergy renovables : Implementation of the growth plan. Outperform rating reiterated and target price lowered to € 45.0
>H1 results in line with our forecasts, H2 expected to show strong growth - Yesterday morning, Grenergy Renovables reported H1 results that were in line with our estimates. The group’s total sales (internal and external) came to € 82.5m including € 32.2m in external sales (+5%), in line with our estimate of € 32m. EBITDA came to € 13.3m, up +40%, vs our estimates of € 12.6m. Net profit came to € 6.8m, up +49%, in line with our estimates at € 6.7m. As expected, develop...Grenergy Renovables Sl. Grenergy Renovables SL is a Spain-based company engaged in the marketing of energy recovery facilities. The Company develops projects and an Independent Power Producer (IPP) that generates renewable energy mainly through solar photovoltaic plants.
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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