The Erg share rises in Piazza Affari after better-than-expected results. In mid-morning the shares of the Genoese group gained 1,6%, to 12,48 euros, with a maximum reached at 12,63 euros.
Erg published a quarterly report judged "very positive" by Equita sim analysts, who underline how the results were achieved "despite the unfavorable hydro and wiind conditions".
In particular, the net profit for the period amounted to 27 million euro, up 60% on the year, when the consensus was for a net profit of 18 million. The recurring Ebitda is also higher than the estimates: 107 million (+4%), against the 98,7 million of the consensus. Furthermore, the net financial position as at 30 June was negative by 1,514 billion euro, against a consensus of -1,556 billion.
“The results achieved so far allow us to confirm the guidance for 2017 which envisages a gross operating margin of 430 million and a decrease in net debt to 1.450 million including 140 million of investments, mainly intended for growth in wind energy abroad, where the 48 MW under construction in Northern Ireland will go into production at the end of the year”, declared Luca Bettonte, CEO of Erg.
In the light of the results, Equita analysts - who consider a mol of 430 million a "conservative guidance" - expect "that the consensus will rise in the coming weeks". Confirmed the "buy" recommendation, the experts have included the stock "in the recommended portfolio".
