9.11.2021 15:14, BAACEZ
EZ stopped the process of selling Polish assets, specifically two local coal-fired power plants. These assets, generating EBITDA of around 1 billion CZK, while part of it (in addition to Romanian and Bulgarian assets) belonged to the range of assets, it was just prepared for sale. EZ originally wanted to close the divestment process of Polish power plants, we estimated their value to be at least around 3 billion K (5.6 K per share) at the turn of 2021. In the end, the sale will not take place. EZ announced that the prices offered were not attractive enough. It is thus clear that there was not enough revenue in the market.
The cessation of sales of Polish assets will not have a significant impact on their expected dividends paid in the last year. Improved outlook for other net profit for 2021 (EZ nov oekv 19 21 billion K), the outlook for a positive development of cash flow due to rising sales prices of electricity and the sale of Bulgarian assets in the amount of 8.6 billion CZK, even without the sale of Polish assets , conditions for dividend in the range of 41 45 K.
Jan Raka, analyst, Fio banka, as
–
Related links
–
