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India

ERG Q2 Adjusted Net Profit Up At EUR 16.3 Mln


Friday, 31 Jul 2020 

July 31 (Reuters) - ERG SpA ::H1 REVENUE EUR 508.5 MILLION VERSUS EUR 536.8 MILLION YEAR AGO.Q2 ADJUSTED NET PROFIT EUR 16.3 MILLION VERSUS EUR 13.5 MILLION YEAR AGO.Q2 REVENUE EUR 224.6 MILLION VERSUS EUR 237.3 MILLION YEAR AGO.OVERALL EBITDA FOR WIND POWER SECTOR IS EXPECTED TO SHOW A DOWNTURN COMPARED TO THE PREVIOUS YEAR.EBITDA FOR FY2020 SOLAR POWER SECTOR IS EXPECTED TO SHOW AN UPTURN WITH RESPECT TO 2019.SEES HYDROELECTRIC POWER SECTOR EXPECTED TO POST A SLIGHT DECREASE IN EBITDA COMPARED TO 2019.SEES IN THERMOELECTRIC SECTOR AN OVERALL REDUCTION IN EBITDA WITH RESPECT TO 2019.FOR FY2020, CONFIRMS CONSOLIDATED EBITDA GUIDANCE, ESTIMATING OVERALL RESULT WITHIN A RANGE OF BETWEEN 480 AND 500 MILLION EURO.SEES OVERALL AMOUNT OF 2020 INVESTMENT EXPENDITURES BETWEEN EUR 150 MILLION AND EUR 180 MILLION, CONFIRMING GUIDANCE ANNOUNCED AT END OF LAST QUARTER.CASH GENERATION WILL ENABLE A REDUCTION IN END-OF-YEAR NET DEBT TO BETWEEN 1.35 AND 1.43 BILLION EURO, CONFIRMING GUIDANCE ANNOUNCED IN PREVIOUS QUARTER. 

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