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 2020 Iren SpA Earnings Call Transcript

Aug 04, 2020 / 02:00PM GMT

Release Date Price: €2.18 (+1.40%)

Transcript

Operator

Good afternoon. This is the Chorus Call conference operator. Welcome, and thank you for joining the Iren First Half 2020 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, GM & Director

Thank you. Good afternoon, everybody. Thank you for attending the Iren's conference call on 2020 first half results. As usual, I start with a general overview of the company, and then I give you more details for each business unit. After the closing remarks, a Q&A session is scheduled to answer your questions.

Moving to the results of the period. The reduction in commodity prices and the lower power volumes sold led to a decrease in revenues equal to 18%, which is not reflected in the marginality. We reported an EBITDA of EUR 473 million, down by 1% compared to last year. This outcome achieved in an extraordinary scenario highlights the resilience of our business model and the value of strategic

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