Egp is an international leader in its sector, on the basis of its pro forma 2009 sales of 2.1 billion euro. In terms of financial size, Egp’s placement is also the largest Europe IPO, initial public offering, since 2007 as Enel, in case of full sell of supplied shares, including the shares covered by the so-called greenshoe, will hold 67.5% of EGP and will cash, net of fees, a minimum of 2.5 billion euro and a maximum of 2.9 billion.
What are the strengths and designations of the EGP title? The company has a better mix of energy sources in production than its competitors, mainly active in wind energy, ranging from hydro to solar energy, from wind to geothermal. This way, the average load factor, the element that expresses the load of hours worked by the plants of Enel Group company, is higher than that of its rivals. Equally broad is the diversification of activities in 16 different countries of the world, to ensure a good spread not only by type of production environment but also for possible incentives granted to the various national laws to renewable sources. Egp is a truly renewable share, meaning that incorporates a single international energy mix from renewable sources and also properly diversified at the regional level.
On the more strictly financial plan, Egp's share promises a dividend pay out no less than 30%. More, we should consider that all buyers who have held the shares acquired under the placement for the first 12 months, will benefit from the bonus share offer from Enel, which corresponds to a free action every 20 purchased at IPO . Egp’s stock, then, offers features to keep in mind. First, the company has an outstanding debt low compared to its assets: a little over 3 billion of net debt, compared with a net worth of more than EUR 7.2 billion . Then, Egp is in a sector with high growth potential in the years to come, because central to achieving the implementation of policies for sustainable growth. Finally, looking to the longer term, it should appropriately be considered the fact that Egp in the next 5 years, has in program development projects for over EUR 5 billion and an investment plan that will increase its installed capacity of 5.7 GW to 9.2 GW, within an overall project’s pipeline of around 30thousand MW.
Finally, the chapter of public incentives so important in the case of renewable energies. The data for 2009 show that only 24% of total revenues of the company, benefits from public subsidies or incentives, that is linked to the fact that Egp is present in hydroelectric and geothermal power. Moreover Egp is investing in new plants to produce wind energy in countries like Brazil where this source is not subsidised by the government, because those plants can work twice as much as in Europe during the same period. This data confirms a more than satisfactory industrial autonomy of the share from the different public policies adopted to encourage renewable energy in different countries, policies which are nevertheless important in this productive sector of the energy industry.
28 Ноября 2024 | четверг | 06:42
