Iren SpA (MIL:IRE)

€ 1.819 -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

Nine Months 2020 Iren SpA Earnings Call Transcript

Nov 10, 2020 / 03:30PM GMT

Release Date Price: €2.08 (-0.76%)

Transcript

Operator

Ladies and gentlemen, thank you for standing by, and welcome to the Iren's 9M 2020 Results Conference Call. (Operator Instructions) I must advise you that this conference is being recorded today, Tuesday, the 10th of November 2020.

I would now like to hand the conference over to our first speaker today, speaker Massimiliano Bianco, CEO of Iren. Thank you. Please go ahead, sir.

Vito Massimiliano Bianco

Iren SpA - Former CEO, GM & Director

Thank you. Good afternoon, everyone, and thank you for attending Iren's conference call on 2020 9 months results that despite a very difficult scenario in which we had a strong volatility of energy prices, we're quite stable and reflect the resilience and the strength of our company.

Moving to the result of the period, the reduction in commodities prices, the lower power volumes sold and the COVID effect led to a decrease in revenue equal to 18%, which is not reflected in marginality because we reported an EBITDA of EUR 653 million, down by 3% compared to last year. Excluding the nonrecurring items

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