REN : Delivering on all its 2022 targets
>Delivering on all its targets - REN FY 2022 results came broadly in line with our estimates (+2.4% above both at EBITDA and net profit) with strong EBITDA margins (62%) offsetting the lower level of revenues from the construction of concession assets. EBITDA rose to € 487m (+5.7% y-o-y) with a strong performance both from the domestic (+4.6%: driven by asset growth and opex remuneration) and international businesses (>40%). The three domestic regulated activities in ...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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