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Saturday, July 31, 2021

Wednesday, July 28, 2021

Friday, July 16, 2021

TERNA ENERGY Group: Financial Results of the First Quarter 2021

 

  • Consolidated sales at 94.3 million Euros – an increase of 6%
  • Operating profit stabilized at the level of 61 million Euros
  • New wind farms with total capacity of 30 MW in operation in Greece
  • Target of 3,000 MW of installed capacity within the next five years

TERNA ENERGY Group posted an increase in turnover during the first quarter of 2021 compared to the corresponding period of 2020, while the Group’s operating profitability stabilized around last year level.

Specifically, the consolidated financial results of TERNA ENERGY for the first quarter of 2021 are as follows:

Consolidated sales amounted to 94.3 million Euros compared to 89 million Euros in the first quarter of previous year, up by 6%. Analytically:

Revenues from the electricity production division amounted to 78.3 million Euros compared to 76.2 million Euros in the first quarter of 2020, posting an increase of 2.7%. Revenues from the division of electric energy trading amounted to 11.9 million Euros compared to 8.9 million Euros in the previous period, recording an increase of 33.2%. The turnover of the construction activity of TERNA ENERGY settled at 0.9 million Euros compared to 0.5 million Euros in the previous year. Revenues from the concessions’ division amounted to 3.3 million Euros compared to 3.5 million Euros in the first quarter of 2020.

Total earnings before interest, taxes, depreciation and amortization (EBITDA)1 stabilized at 61 million Euros compared to 61.3 million Euros in the first quarter of 2020. The same trend was broadly observed in the case of adjusted EBITDA which amounted to 60.8 million Euros compared to 61.1 million Euros in the same period of 2020. Total earnings before interest and taxes (ΕΒΙΤ)1 amounted to 44.9 million Euros versus to 44.3 million Euros in 2020 higher by 1.3%. Profit before tax, taking into account the loss in US, amounted to losses of 75.5 million Euros compared to profit of 25.3 million Euros in the first quarter of 2020. Adjusted net profit accounted for 21.2 million Euros compared to 18.8 million Euros in the first quarter of 2020, posting an increase of 12.6%.

The net debt position(1) of the Group (debt minus cash & cash equivalents) at the end of the first quarter of 2021 amounted to 635.2 million Euros compared to 613 million Euros in the last quarter of 2020.

Regarding the unprecedented extreme weather conditions of February 2021 in the State of Texas, US, and concerning their impact on the Group’s business activities, the Management of the Group moved quickly from the first moments of the occurrence of the natural disaster, constantly and thoroughly informing the investment community about the impact and the estimated burden on the financial results. In this context, the Management made a provision for the recognition of an accounting loss in the consolidated financial results amounting to 98.5 million Euros, which corresponds to the outcome of the divestment of the three wind farms in Texas, USA in line with what has been assessed and disclosed in previous announcements. It is also noted that the Management decided to proceed with the particular plan of actions after thoroughly considering three possible actions: (a) Maintenance of the wind farms within the portfolio and recourse to the competent courts to initiate a legal dispute with the Hedge Providers, over the tariffs concerning the so-called “Liquidated Damages invoices” covering the period from 13 to 19 February 2021, totaling $ 179 million; (b) Finding a mutually acceptable commercial solution to the dispute with the Hedge Providers; and (c) divesting of the three wind farms in USA (Class B interests). The examination of the above three potential actions revealed that the lowest possible impact on the financial results would originate from the third solution, as the loss would be limited from $ 179 million (receivables that the company had to cover immediately) to 98.5 million Euros. In addition, this solution implies the exemption of the company from loans, equity securities assimilated to financial liabilities and financial expenses totaling $ 615 million (until March 31, 2021). It is emphasized once again that the loss related to the disinvestment from the wind farms in Texas is a non-recurring event, the consequences of which have no further impact either on the parent company TERNA ENERGY or TERNA ENERGY USA HOLDING GROUP in the US.

It is worth noting that the development of the Group continues normally, with its investment program evolving smoothly and at an intensive pace. The Group’s total installed capacity target remains at (wind farms, photovoltaic parks and energy storage systems) 3,000 MW within the next five years. In this context, the Company recently placed into operation an additional 30 MW of wind farms in Greece. The parks that will be gradually put into operation within the current year, are expected to enhance the Group’s operating profit (EBITDA) by more than 35 million Euros and net profit by more than 24 million Euros. In total, the Group constructs or has ready for construction about 400 MW of new wind farms in various parts of the country.

It is noted that the works for the PPP project concerning the integrated waste management of Peloponnese Region, Greece, started recently, as continuation to the corresponding project that is already in operation in Epirus. Also within the first quarter of the year, the Company signed a contract for the electronic ticket system of Thessaloniki, following a corresponding project that has been completed and operates in Athens.

Finally, it should be mentioned that the company is also launching a broad investment plan in floating photovoltaic and floating offshore wind farms with a total capacity of 1,800 MW.

(1) The alternative performance measures (APM) were determined in the same manner as in note 6 of the Annual Financial Report for the period 01/01/2020-31/12/2020.

Information:
Investor Relations: Aristotelis Spiliotis, tel. + 30 210 696800, tspiliotis@terna-energy.com
Press Office & Public Relations: Danai Kalantidi, tel. +30 210 6968000, dkalantidi@gekterna.com

Election of a new Board of Directors, totally in compliance with the New Legislation for Corporate Governance


The Extraordinary Meeting of the Board of Directors of European Reliance General Insurance Co. S.A. approved, among others, the election of the new Board of Directors, with five year term of office, on Tuesday, July 13, 2021.

The new composition of the Board of Directors fully complies with the requirements of L. 4706/2020 on the Corporate Governance of Société Anonymes with shares listed in a regulated market in Greece, regarding the number of the independent members, the appropriateness, existence of diversity and sufficient representation of both genders. Moreover, with the addition of the new members, more age groups are represented and at the same time, the knowledge and professional base of the new Board of Directors, is enhanced with additional auditing, legal and actuarial knowledge. 

More specifically, the Board members acquire knowledge and experience in the following fields: 
 Insurance and fiscal markets  
 Business strategy and business models 
 Systems of governance, internal audit and risk management 
 Financial and actuarial analysis
 Applied auditing and accounting
 Regulatory framework and regulatory requirements
 Technology and utilization methods

The new Board of Directors consists of the following members:
 Nikolaos Chalkiopoulos, Chairman of the Board of Directors, Executive Board Member
 George Diamantopoulos, Vice-Chairman of the Board of Directors, Non-Executive Board Member
 Christos Georgakopoulos, Chief Executive Officer, Executive Board Member
 Stefanos Verzovitis, Executive Board Member
 Keith Morris, Independent, Non-Executive Member
 Eleni Andreadaki, Independent, Non-Executive Board Member
 George Konstantinidis, Non-Executive Board Member
 Christina Papanikolopoulou, Independent, Non-Executive Board Member
 Panagiotis Vroustouris, Independent, Non-Executive Board Member


The interested parties may find further information on the Investor Relations website of the Company.

XIAOMI: PUBLICATION OF OFFERING MEMORANDUM

 


PUBLICATION OF OFFERING MEMORANDUM - US$800 MILLION 2.875% SENIOR BONDS DUE 2031 AND US$400 MILLION 4.100% SENIOR GREEN BONDS DUE 2051 BY XIAOMI BEST TIME INTERNATIONAL LIMITED

ADMIE (IPTO) HOLDING S.A. : Announcement of the modification of the Financial Calendar 2021

 ADMIE (IPTO) HOLDING S.A. (or “Company”) according to the provision of the articles 4.1.4.3.1 of the ATHEX Regulation announces to investors the modification of the financial calendar for 2021 regarding the following dates: Dividend Cut of date: Monday, September 6th ,2021 (instead of August 23rd , 2021)

 Dividend Record date: Tuesday, September 7th, 2021 (instead of August 24th, 2021) Dividend Payment: Monday, September 13th ,2021 (instead of August 30th, 2021)

 It should be noted that the Annual General Meeting of 14th July 2021 approved the distribution of remaining gross DPS at EUR 0.018 for FY 2020, while also BoD of the Company has proposed the distribution of Interim gorss DPS at EUR 0.085 for FY 2021, leading to a total distribution of EUR 0.103 per share.


For more information, shareholders may contact Investor Relations Department (tel. 210 3636936, or office@admieholding.gr). Athens, July 15 th, 2021

EYATH water is always safe!

 Following a press release of the Greek Police department for the formation of a case against three people for environmental pollution ending up in Aliakmonas river in 2019, EYATH clarifies the following:

– “The large amount of liquid waste discharged into an irrigation canal”, according to ELAS, obviously never ended up in the city network. On the contrary, the solution of the interruption of the water supply of Thessaloniki from the Water Treatment Plant and the water supply only from Arabissos (the second water carrier of Thessaloniki) was chosen as self-evident.

The interruption of the water supply until the complete restoration of the water quality characteristics at the exit of EENTH, apart from charging the company for the excessive operation of the facility, resulted in the suffering of the people of Thessaloniki, but it was the solution that was imposed (and is imposed in any similar cases) for the protection of public health, in accordance with the requirements of applicable European legislation and always in cooperation with the Directorate of Public Health of the Region.

It should be noted that, after the pollution incident of 2019 in Aliakmonas, additional special equipment has been installed that monitors in real time the water quality in the Aliakmonas Intake Canal, as well as at the entrance of EENTH, in order to have continuous monitoring and timely treatment of similar cases.

EYATH, in any case, would like to thank the Greek Police and the Department of Environmental Protection of the Thessaloniki Security Directorate for their cooperation and hopes that the investigation of this criminal act will work as a deterrent in the future.

MOTOR OIL : Release Date of Q1 2021 Financial Results

 MOTOR OIL (HELLAS) CORINTH REFINERIES S.A. hereby announces that the financial results of Q1 2021 will be released after the close of business on Tuesday June 15th, 2021 while a teleconference has been scheduled for Wednesday June 16th, 2021 at 17:30 hrs local time (UK: 15:30, EASTERN US: 10:30).

The Interim Financial Statements for the period 1.1.2021 – 31.3.2021 will be available on the Company website www.moh.gr (Investor Relations / Financial Information / Quarterly Financial Statements) as well as on the HELEX site www.athexgroup.gr after the close of business on Tuesday June 15th, 2021.

Maroussi, June 1st, 2021

The Board of Directors

Dropbox to Announce Second Quarter 2021 Earnings Results

 Dropbox to Announce Second Quarter 2021 Earnings Results

Jul 15, 2021

SAN FRANCISCO--(BUSINESS WIRE)--Jul. 15, 2021-- Dropbox, Inc. (NASDAQ: DBX) announced today that it will report financial results for the second quarter ended June 30, 2021 after market close on Thursday, August 5, 2021. The company will also hold a conference call on the same day at 2:00 PM PT / 5:00 PM ET to discuss its financial results with the investment community.

The conference call can be accessed by dialing (877) 300-7844 from the United States or (786) 815-8440 internationally with reference to the company name and conference title, and a live webcast and replay of the conference call can be accessed from the Dropbox investor relations website at http://investors.dropbox.com. Following the completion of the call, a telephonic replay will be available through 11:59 PM ET on August 12, 2021 at (855) 859-2056 from the United States or (404) 537-3406 internationally with recording access code 8414818.

About Dropbox

Dropbox is one place to keep life organized and keep work moving. With more than 700 million registered users across 180 countries, we’re on a mission to design a more enlightened way of working. Dropbox is headquartered in San Francisco, CA. For more information on our mission and products, visit dropbox.com.

Investors:
IR@dropbox.com

Media:
Tessa Chen
press@dropbox.com

Source: Dropbox, Inc.

Wednesday, July 14, 2021

Highlights από τη γενική συνέλευση του ΑΔΜΗΕ και οι απαντήσεις στις ερωτήσεις μας

 Συμμετοχή και ψήφος στη Γενική Συνέλευση εξ αποστάσεως


Ολοκληρώθηκε η γενική συνέλευση του ΑΔΜΗΕ σήμερα.

Αρκετά σοβαρή και μετρημένη η διοίκηση προέβη σε μία κατατοπιστική ενημέρωση.

Παρακάτω μπορείτε να δείτε κάποιες από τις εικόνες των μεγεθών και της μελλοντικής εξέλιξης της εταιρείας.

Όσον αφορά τις ερωτήσεις μας, οι απαντήσεις που δόθηκαν ήταν οι εξής:

Στην ερώτηση για το αν μπορεί να γίνει πρόβλεψη για την πορεία των εσόδων μετά τις επενδύσεις και αν η μόχλευση θα επηρεάσει το μέρισμα, ειπώθηκαν τα παρακάτω:

Όσο ανεβαίνουν οι επενδύσεις, η πορεία των εσόδων θα ακολουθεί γραμμική ανοδική πορεία το ίδιο και των κερδών και του μερίσματος.

Η εταιρεία αυτή τη στιγμή είναι πολύ λίγο μοχλευμένη και αυτό έχει γίνει συνειδητά, γιατί έχει μπροστά της μεγάλο πρόγραμμα επενδύσεων το οποίο φτάνει τα 4 δις έως το 2030. Επιπλέον 1 δις θα αντληθεί από επιδοτήσεις.

Η αύξηση της μόχλευσης που θα φτάσει στα μέσα ευρωπαϊκά επίπεδα των διαχειριστών δικτύου (αυτή τη στιγμή είναι στα μισά) δεν θα επηρεάσει τη μερισματική πολιτική καθόλου. Το 50% των κερδών θα πηγαίνει σε επενδύσεις μαζί με τα δάνεια και τις επιδοτήσεις και το υπόλοιπο 50%, που θα αυξάνεται, θα πηγαίνει στους μετόχους...

Στην ερώτησή μας, αν τους ανησυχούν τα κινήματα κατά των ανανεώσιμων πηγών ενέργειας και αν αναμένεται αυτό να έχει καθυστερήσεις στο πρόγραμμα και στα έσοδα της εταιρείας, η απάντηση ήταν: 

Στόχος του ΑΔΜΗΕ αυτή τη στιγμή είναι να εξασφαλιστεί η σταθερότητα του συστήματος στα νησιά και να κλείσουν τα ρυπογόνα φουγάρα. Φυσικά για να επιτευχθεί και η ενεργειακή μετάβαση χρειάζονται νέα έργα ανανεώσιμων πηγών ενέργειας. Όσα έργα του ΑΔΜΗΕ υλοποιήθηκαν ως τώρα, έχουν γίνει με μηδενικές αντιδράσεις, εκτός από την Πελοπόννησο που όλοι γνωρίζουμε το πρόβλημα με το μοναστήρι. Σε κάθε περίπτωση ο ΑΔΜΗΕ είναι πάντα σε επαφή με το υπουργείο και τις τοπικές κοινωνίες για να υλοποιήσει τις βέλτιστες πρακτικές.

Στην ερώτησή μας για το αν οι επενδύσεις αναμένεται να επηρεάσουν την τιμή της μετοχής και αν μπορεί αυτό να ασχοληθεί με αγορές ιδίων είχαμε την εξής απάντηση: 

Από πέρσι το καλοκαίρι έχει ψηφιστεί αγορά ίδιων έως 1% του Μετοχικού Κεφαλαίου. Το πότε θα γίνει αυτό είναι συνάρτηση της τιμής και του τζίρου. Εκ των πραγμάτων, επειδή υπάρχει ο βασικός μέτοχος, δεν υπάρχει μεγάλη διασπορά μετοχών. 

Η ερώτησή μας για το αν αναμένεται περαιτέρω ιδιωτικοποίηση ή εισαγωγή του ΑΔΜΗΕ ολόκληρου στο χρηματιστήριο δεν απαντήθηκε...

Σε γενικές γραμμές η εντύπωσή μας ήταν πολύ θετική. Η εταιρεία έχει μπροστά της ένα λαμπρό μέλλον και μπορεί να θεωρηθεί επιλογή Μπαφετική, αφού μιλάμε για μονοπωλιακή θέση με σταθερό και αυξανόμενο μέρισμα. 

Σαφέστατα, η τιμή παρουσιάζει την εποχή αυτή κάποια δυστοκία σε σχέση με άλλες μετοχές της μεσαίας και μεγάλης κεφαλαιοποίησης. Πρέπει όμως να έχουμε στο μυαλό μας αυτό που έχει πει ο Γκράχαμ.

Βραχυπρόθεσμα η τιμή της μετοχής αποτελεί την πρόσκαιρη ψήφο των επενδυτών. Μακροπρόθεσμα όμως η τιμή παίρνει δίκαια χαρακτηριστικά, καθώς ζυγίζεται σωστά...









Iktinos Hellas Greek Marble Industry SA NET INCOME 2001-2020

 


Sunday, July 11, 2021

The financial and technical analycies presented on this website have not been performed by an Investment Services Company, nor have they been compiled by a certified analyst . It is simply a display and presentation of public data of Greek and foreign shares with informative and entertaining character.


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