Erg archive 2015 with a Net income of 96 million euros, up 60% on the year, against a Adjusted mol up 2%, to 350 million. The group made it known in a note. The results of the year that has just ended reward the strategy of repositioning the core business on renewable energies. The stock soars on the Stock Exchange and is traded close to 12 euros with an increase of 6,92% around 13pm on Wednesday 23 March.
“2015 EBITDA is in line with the guidance of the Plan”, commented the CEO, Luca Bettonte, confirming for 2016 the forecast of a gross operating margin in "strong growth to 440 million euro".
The board has proposed a dividend of €1 for action, which includes a non-recurring component of €0,50. Debt at the end of 2016 should amount to 1,73 billion (1,448 at the end of 2015), "including the distribution of dividends".
In 'Aeolian, explains a note, Erg Renew continues with its international development strategy, thanks to which already at the beginning of 2016 it reached 0,6 GW of installed power abroad, equal to 37% of the total 1,7 GW installed, allowing the group to become the ninth onshore wind operator in France and the eighth in Europe.
2016 will benefit in particular from the full contribution of the three new wind farms whose construction has been completed in Poland for a total installed capacity of 82 MW, as well as from the acquisition of another six wind farms in France with an installed capacity of 63 MW and the increase in installed capacity of 20 MW in Bulgaria and Romania.
Then the evaluation continues new investment opportunities, especially abroad. "The 2016 results, despite the presence of significantly lower energy prices compared to 2015, are expected to grow also thanks to the full contribution of the new parks built or purchased abroad", continues the note.
With regard to programmable sources, the group has finalized an operation that allows it to diversify its sources of production by entering the hydroelectric sector with a significant dimension. Thanks to this diversification, the 2016 results of programmable sources are expected to increase compared to 2015.
In 'hydroelectric, in particular, following the transaction finalized on 30 November 2015, Erg Power Generation acquired the entire business of E.On Produzione, consisting of a portfolio of plants present in Umbria, Marche and Lazio, with a total capacity of 527 MW extension.
Furthermore, the contribution of the newly incorporated ERG Hydro will make it possible to significantly increase the economic results and cash generation, while the considerable increase in the generation portfolio will make it possible to improve results also thanks to the Energy Management activity.
In thermoelectric, as regards the Erg Power plant, the group expects declining results starting from the entry into service of the Sorgente-Rizziconi cable, currently expected by Terna by 30 June 2016. However, until then, results are expected in line with 2015.
