Albioma Raises FY 2013 EBITDA and Net Income Guidance
Albioma announced that it reached an agreement in principle with EDF that takes account of additional costs incurred because of changed circumstances surrounding the operation of two Albioma plants (Bois-Rouge and Le Gol) on the French island of Reunion in recent years. This agreement was approved by a resolution of France's Commission de Regulation de l'Energie (CRE) on June 5, 2013. The amendments to the Company`s contracts with EDF are due to be signed off in July 2013. These amendments stipulate an upward adjustment in fees from 2013 on, as well as compensation backdated to cover the past three years. Taking into account new logistical and environmental costs, this compensation enables the group to revise its fiscal year 2013 EBITDA target by EUR 3 million and its group net income target by EUR 2 million.
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