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ERG SpA (ERG.MI)

ERG.MI on Milan Stock Exchange

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Latest Key Developments (Source: Significant Developments)

ERG Q1 net profit up at EUR 65.0 million
Friday, 12 May 2017 01:48am EDT 

May 12 (Reuters) - ERG SpA :Q1 NET PROFIT EUR 65.0 MILLION VERSUS EUR 47.8 MILLION YEAR AGO.Q1 REVENUES FROM ORDINARY OPERATIONS EUR 302.6 MILLION VERSUS EUR 295.4 MILLION YEAR AGO.SEES FOR THE END OF 2017 EBITDA OF EUR 430 MILLION AND A NET DEBT OF EUR 1.45 BILLION.  Full Article

Erg CEO sees Italy petrol station sale before summer
Friday, 10 Mar 2017 05:51am EST 

The CEO of Italian renewable energy group Erg says: expects to wrap up the sale of the Italian petrol station network it controls with France's Total via the joint venture TotalErg before the summer Further company coverage: [ERG.MI] (Reporting by Milan newsroom).  Full Article

ERG FY net profit rises to EUR 107 mln, proposes dividend of EUR 0.50/shr
Friday, 10 Mar 2017 02:11am EST 

ERG SpA : FY net profit 107 million euros ($113.30 million) versus 96 million euros a year ago . FY revenue 1.03 billion euros versus 944 million euros a year ago . Proposes dividend of 0.50 euro per share . 2017 EBITDA is forecast at around 430 million euros . Cash generation in 2017 will enable the distribution of an ordinary dividend of 0.50 euro per share .ERG's cash generation will reduce indebtedness by about 100 million euros to about 1,450 million euros.  Full Article

ERG unit acquires six wind farms in Germany
Wednesday, 8 Mar 2017 01:46am EST 

ERG SpA : Its unit ERG Power Generation SpA acquires from DIF RE Erneuerbare Energien 1 GmbH and DIF RE Erneuerbare Energien 3 GmbH, a 100 percent stake in six German companies, owners of six wind farms in Germany . Price of purchase paid in terms of equity value amounts to 14.4 million euros ($15.21 million), corresponding to an enterprise value of approximately 40 million euros .The closing of the transaction is expected to take place during the second quarter of 2017.  Full Article

UniCredit ERG Renew swap values ERG shares at 12.8 euros each
Wednesday, 12 Oct 2016 11:05am EDT 

Italy's ERG says: UniCredit swaps an ERG Renew 7.14 percent shareholding for a stake in ordinary treasury shares of ERG group of 4 percent . The swap ratio agreed for the exchange is approximately 0.78 ERG ordinary shares for each ERG Renew share, considering a value of 12.8 euros for each ERG ordinary share . UniCredit will observe a 180 day lock-up commitment on ERG shares Further company coverage: [CRDI.MI] (Reporting by Milan newsroom).  Full Article

ERG Q2 net profit falls to EUR 17 mln
Friday, 5 Aug 2016 06:13am EDT 

ERG SpA : Q2 net profit 17 million euros ($18.95 million) versus 23 million euros a year ago .Q2 revenue 235 million euros versus 222 million euros a year ago.  Full Article

ERG Q1 group net result at replacement cost up at 57 million euros
Friday, 13 May 2016 01:47am EDT 

ERG SpA : Q1 consolidated EBITDA at replacement cost: 163 million euros ($185.38 million), an increase from 111 million euros in Q1 of 2015 . Q1 group net result at replacement cost: 57 million euros, 34 million euros in Q1 of 2015 .Confirms guidance for 2016 which forecasts, for the end of the year, EBITDA of 440 million euros and a net debt of 1.73 billion euros.  Full Article

ERG SpA proposes FY 2015 dividend
Wednesday, 23 Mar 2016 02:38am EDT 

ERG SpA:Proposes FY 2015 dividend of 1.0 euro per share, of which 0.50 euro as extraordinary dividend.  Full Article

ERG SpA unit ERG Renew buys from TCI Renewables 100 pct stake in Brockaghboy Windfarm Ltd
Sunday, 28 Feb 2016 07:00pm EST 

ERG SpA:Unit ERG Renew has acquired from TCI renewables 100 percent equity interest in Brockaghboy Windfarm Ltd.Brockaghboy Windfarm Ltd is a company holding authorisations to build a wind farm in Northern Ireland with the capacity of approximately 45 MW.Expects to commence construction of the wind farm during the second quarter of 2016 with a view to completion of construction at the end of the first quarter of 2017.Overall investment for implementation of wind farm is estimated at around 80 million euros which already includes initial amount paid to buy Brockaghboy Windfarm Ltd.Project meets conditions for accrediting under current incentive mechanisms (NIRO) and related "grace period", subject to draft bill being finalised by the UK parliament.Based on agreements with TCI Renewables, upon completion of construction and NIRO accreditation, possibility is provided for to sell Brockaghboy Windfarm Ltd to third parties.Unit to be entitled to submit to TCI Renewables a proposal for maintaining the ownership.Should TCI Renewables not accept the proposal, and only in the event that higher offers from third parties are received and accepted, Brockaghboy Windfarm Ltd will be sold.  Full Article

ERG SpA unit finalizes acquisition of windfarms in France and Germany, two operating companies
Tuesday, 2 Feb 2016 11:16am EST 

ERG SpA:‍ERG Renew finalizes agreement for acquisition from a fund managed by Impax Asset Management Group of 11 wind farms in France and of 6 wind farms in Germany.‍The acquired wind farms represent an overall capacity of 206 MW​.‍The acquisition also includes two operating companies, CSO Energy Sarl and CSO Energy Gmbh.CSO Energy Sarl and CSO Energy Gmbh provide operational and commercial technical assistance to "captive" and third-party wind power operators in France, Germany and Poland, serving about 800 MW.  Full Article

More From Around the Web

Total and Erg get four bids for Italy petrol stations -sources

MILAN, May 5 Total and energy group Erg have received four bids for the Italian petrol station network they jointly own, three sources close to the matter said.