Edition:
India

Contourglobal Says Halted Plans To Build A 500 Megawatt Coal-Fired Power Plant In Kosovo


Tuesday, 17 Mar 2020 

March 17 (Reuters) - ContourGlobal PLC ::PRELIMINARY RESULTS ANNOUNCEMENT.FY ADJUSTED EBITDA +15% TO $703 MILLION.ANNOUNCE TODAY THAT KOSOVA E RE PROJECT CANNOT GO FORWARD.POLITICAL SITUATION IN KOSOVO SINCE JULY, RECENT GOVERNMENT. FORMATION MADE IT IMPOSSIBLE FOR E RE PROJECT TO MEET REQUIRED MILESTONES.POWER PLANT OPERATIONS HAVE TO DATE BEEN UNAFFECTED BY SPREAD OF COVID-1.DIVIDEND - ON TARGET WITH 10% ANNUAL DIVIDEND INCREASE.A FOURTH QUARTERLY DIVIDEND OF $24.75 MILLION, OR 3.6901 CENTS PER SHARE, TO BE PAID ON 9 APRIL 2020.EXPECT 2020 ADJUSTED EBITDA TO BE BETWEEN $710 MILLION TO $745 MILLION.CURRENT WIDER MARKET UNCERTAINTY HAS NOT IMPACTED OUR CASHFLOWS.FY REVENUE $1,330 MILLION VERSUS $1,253 MILLION.FY NET PROFIT $23 MILLION VERSUS $10 MILLION.VAST MAJORITY OF OUR DEBT, $3.1 BILLION, IS AT PROJECT LEVEL AND AMORTIZES OVER TIME. 

Company Quote

193.8
2.4 +1.25%
30 Oct 2020