REN : 9M results broadly in line with estimates on sound electricity transmission contribution
>Sound EBITDA performance on electricity transmission contribution - Positive results, slightly above our estimates (EBITDA of € 388m, +2.2%), but still reflecting a slight decline compared with previous year levels (-1.8%) on lower domestic (-€ 2.5m: decrease in assets and opex remuneration and increase in core opex) and international (-€ 4.4m: one-off revenue in Chile in 9M 2023) results. Activity in Portugal was impacted by the anticipated negative effect of new re...Ren Redes Energeticas Nacionais is engaged in two principal lines of business: electricity transmission, where Co. owns and operates Portugal's national high-voltage electricity transmission network (the "RNT"), and natural gas, where Co. is engaged in the reception, storage and regasification of liquefied natural gas ("LNG"), the operation of the national high-pressure gas transmission network, which Co. owns and operates under respective concessions and the underground storage of natural gas. Co.'s electricity transmission business is conducted through its subsidiary REN - Rede Electrica, which holds a 50 year concession to operate the electricity transmission network in Portugal.
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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