May 14, 2020 / 5:58 AM / 20 days ago

BRIEF-ERG Q1 Adj. Net Profit Down At EUR 53.0 Mln

May 14 (Reuters) - ERG SpA:

* Q1 ADJUSTED NET PROFIT EUR 53.0 MILLION VERSUS EUR 54.0 MILLION YEAR AGO

* Q1 ADJUSTED REVENUE EUR 277 MILLION VERSUS EUR 296 MILLION YEAR AGO

* OVERALL EBITDA FOR WIND POWER SECTOR IS EXPECTED TO SHOW A DOWNTURN COMPARED TO THE PREVIOUS YEAR

* SOLAR POWER SECTOR, EBITDA FOR FY 2020 IS EXPECTED TO SHOW AN UPTURN WITH RESPECT TO 2019

* THERMOELECTRIC POWER SECTOR, A REDUCTION IN OVERALL EBITDA IS ESTIMATED WITH RESPECT TO 2019

* HYDROELECTRIC SECTOR, EBITDA FOR FY 2020 TO SHOW UPTURN COMPARED TO 2019

* FOR FY2020 A DOWNWARD ADJUSTMENT OF APPROXIMATELY 4% HAS BEEN MADE TO CONSOLIDATED EBITDA GUIDANCE, ESTIMATING AN OVERALL RESULT WITHIN A RANGE OF BETWEEN 480-500 MILLION EURO

* INVESTMENTS FOR 2020 ARE REVISED IN A RANGE BETWEEN EUR 150 AND 180 MILLION

* CASH GENERATION WILL ENABLE REDUCTION IN END-OF-YEAR NET DEBT TO BETWEEN 1.35 AND 1.43 BILLION EURO

* LIQUIDITY RISK CONTINUES TO BE LIMITED, MOREOVER WITHOUT SIGNIFICANT IMPACTS BEING ANTICIPATED DURING THE COURSE OF 2020

* DURING COVID-19 THERE WASN’T ANY REDUCTION OF PERSONNEL NOR WERE PLANNED Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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