Maire Tecnimont stock loses more than 6%. This morning he was even suspended several times and had reached a theoretical loss of 18,23% at 0,933 euros. After a few minutes of bewilderment, the action of the blue chip in the energy and petrochemical sector has begun to be treated again on the stock exchange, but not with the due cordiality.
The market did not forgive Maire Tecnimont for an oversight of 188 million euros. This is the value of the devaluation generated by an unexpected adjustment to the financial statements presented this morning. The quarterly report was considered negative, despite the 13,4% increase in revenues to 1,27 billion euro. In fact, Ebitda is negative (-160 million) and the net loss is 152 million euro, when a profit of 11 million was expected. Even the data relating to the net financial position cannot comfort investors: 103 million against 216 million in December 2010.
Mediobanca's recommendation fell from neutral to underperform and the target price decreased from 2,25 euro to 0,7. According to analysts Maire Tecnimont could need a recapitalization of 150 to 200 million euros.
The stock loses 6,40% (at 15.20 pm).
