We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Contourglobal Plc | LSE:GLO | London | Ordinary Share | GB00BF448H58 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 251.00 | 251.00 | 251.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMGLO
RNS Number : 2991Z
ContourGlobal PLC
14 December 2017
14 December 2017
ContourGlobal plc
Q3 2017 Bondholder Update
Financial highlights
-- Strong financial performance with significant growth in revenue, Adjusted EBITDA, CFADS and FFO):
o 9M 2017 Revenue: increased 13% to $742m
o 9M 2017 Adjusted EBITDA: increased 16% to $380m
o LTM Q3 2017 CFADS(1) : increased 28% to $206m
o 9M 2017 FFO(2) : increased to 22% to $197m
-- Successful integration of new businesses, including Brazil hydro and Solutions Brazil, drives strong growth
-- Robust credit performance with 5.1x DSCR and 3.4x Bond Indenture Defined Leverage Ratio(3)
-- Successful November 2017 Initial Public Offering ("IPO") on the London Stock Exchange ("LSE") further strengthens credit quality with $490m of corporate level liquidity
-- On track to meet FY Adj. EBITDA guidance of $500m - $520m
Financial Highlights
Q3 2017 Q3 2016 Change -------------- -------- -------- ------- YTD Revenue 742 654 13% -------------- -------- -------- ------- YTD Adjusted EBITDA* 380 327 16% -------------- -------- -------- ------- LTM CFADS* 206 162 28% -------------- -------- -------- ------- YTD FFO* 197 161 22% -------------- -------- -------- -------
* Non-IFRS metrics
Operational highlights
-- ContourGlobal continues to achieve industry-leading health and safety performance, with 0.03 Lost Time Incident ("LTI") rate for the past 12 months.
-- Availability factors are high across the fleet with September YTD factors of 91.4% in Thermal and 97.3% in Renewables. Availability in Renewables was higher than previous period, while availability in Thermal was slightly below due to scheduled maintenance activities at Maritsa and KivuWatt.
-- Renewable resource performance was below expected levels with 3% impact on Adjusted EBITDA for 9M 2017.
-- In December, the company closed the acquisition of a 19MW solar portfolio in Italy for EUR58m. The plants are located near existing ContourGlobal assets and can be immediately integrated into the company's operations and maintenance platform.
-- Final negotiations for commercial close for a 500MW new-build thermal plant in Kosovo currently underway in Pristina, Kosovo.
Operational Highlights
YTD Q3 YTD Q3 Change 2017 2016 --------------------------- ------- ------- ------- GWh produced Thermal 5,872 5,393 +9% -------------- ----------- ------- ------- ------- Renewable 3,316 3,223 +3% -------------------------- ------- ------- ------- MW in operation Thermal 2,640 2,531 +4% -------------- ----------- ------- ------- ------- Renewable 1,497 1,373 +9% -------------------------- ------- ------- ------- Availability factor Thermal 91.4% 91.9% -0.5% -------------- ----------- ------- ------- ------- Renewable 97.3% 94.7% +2.6% -------------------------- ------- ------- ------- Avg. capacity factors Thermal 37.5% 36.3% +1.2% -------------- ----------- ------- ------- ------- Renewable 35.5% 36.2% -0.7% -------------------------- ------- ------- -------
Presentation and conference call
The company will host a call for investors at 14:00 BST. Confirmation code and participant access numbers per country are available on the ContourGlobal website:
http://www.contourglobal.com/event/contourglobals-q3-2017-bondholder-update-call
The presentation for the call can be downloaded at http://www.contourglobal.com/reports
Enquiries
Investor Relations - Media - Brunswick ContourGlobal Alice Heathcote - +1 Charlie Pretzlik/Simon 646 599 2924 Maine - +44 (0) 207 404 investors@contourglobal.com 5959 Contourglobal@brunswickgroup.com
(1) Cash Flows Available for Debt Service (CFADS) is a metric defined in ContourGlobal's EUR700m Bond Indenture that is reported on a last 12 month (LTM) basis; CFADS growth ($162m Q3 2016 to $206m Q3 2017) excludes $90m special distribution in Q2 2016 from Maritsa
(2) Funds from operations
(3) Debt Service Coverage Ratio and Leverage Ratio ("Non-Guarantor Combined Leverage Ratio") as defined in Bond Indenture.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCOKNDBDBDBQBD
(END) Dow Jones Newswires
December 14, 2017 02:00 ET (07:00 GMT)
1 Year Contourglobal Chart |
1 Month Contourglobal Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions