Iren SpA (MIL:IRE)

€ 1.829 -0.034 (-1.83%) Market Cap: 2.35 Bil Enterprise Value: 2.55 Bil PE Ratio: 9.73 PB Ratio: 0.79 GF Score: 80/100

Full Year 2018 Iren SpA Earnings Call Transcript

Apr 12, 2019 / 01:30PM GMT

Release Date Price: €2.21 (-2.21%)

Transcript

Operator

Good afternoon. This is the Chorus Call conference operator. Welcome and thank you for joining the Iren Full Year 2018 Results Conference Call. (Operator Instructions) At this time, I would like to turn the conference over to Mr. Massimiliano Bianco, CEO of Iren. Please go ahead, sir.

Vito Massimiliano Bianco

Iren SpA - CEO & Director

Thank you. Good morning, everybody, and thank you for attending the presentation of Iren's '18 full year results.

Starting from Page 2, you can find an overview of the key elements of the presentation. The first concept to highlight is the significant growth path that the group began 4 years ago, which led to a remarkable improvement in all the economic and financial KPIs. In particular, compared to '14, the adjusted EBITDA has substantially increased by EUR 220 million with a CAGR higher than 8%. The financial flexibility of the group has constantly improved, thanks to a net debt-to-EBITDA ratio that has moved from 3.6x to 2.8x considering the recurring EBITDA equal to EUR 866 million. The bottom line has more than

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