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

Half Year 2019 Iren SpA Earnings Call Transcript

Jul 31, 2019 / 03:30PM GMT

Release Date Price: €2.36 (+2.16%)

Transcript

Operator

Good afternoon. This is the Chorus Call conference operator. Welcome, and thank you for joining the Iren First Half 2019 Results Conference Call. (Operator Instructions)

At this time, I would like to turn the over to Mr. Massimiliano Bianco, CEO of Iren. Please go ahead, sir.

Vito Massimiliano Bianco

Iren SpA - CEO & Director

Thank you. Good afternoon, everybody, and thank you for attending Iren's first half '19 result presentation.

Starting from Page 2, the graph shows the contribution to EBITDA increase of each business unit. The first half is impacted by the absence of the extraordinary positive contribution of white certificate sales reported in '18 equal to EUR 60 million and the expiry of green certificates on Pont Ventoux and Bussento hydroelectric plant for EUR 22 million. Out of EUR 32 million expected on this year and no longer payable. These negative elements are partially offset by the recognition of balances on energy certificate for roughly EUR 15 million included in the energy business unit.

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