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4-Traders Homepage  >  Equities  >  Xetra  >  Innogy SE    IGY   DE000A2AADD2

INNOGY SE (IGY)
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Innogy : Considers Further Cost Cutting After CEO Departure

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01/02/2018 | 07:15pm CET
   By Max Bernhard 
 

Innogy SE (>> innogy SE) is reviewing possibilities to further cut costs following the departure of its chief executive officer in December.

The executive board is examining the potential for further reductions, the German renewables company said on Tuesday, adding that it will provide more information with the publication of its full-year results on March 12.

In December, Innogy's chief executive Peter Terium resigned following a profit warning.

Innogy also confirmed its target leverage factor--which assesses the ability of a company to meet its financial obligations--of around 4.0 times net debt to adjusted earnings before interest, taxes, depreciation and amortization and a payout ratio--the proportion of earnings paid out as dividends--between 70% and 80% of adjusted net income.

The company said its 2018 to 2020 investment program was subject to Innogy's financing capacity and investment framework.

Innogy said it will focus investments on its core activities in renewables, grid and infrastructure, as well as retail segments, but added that e-mobility, broadband and solar were also attractive growth areas.

"We are fully aware of the importance the capital market attributes to a stable and attractive dividend and reasonable leverage," said Bernhard Guenther, chief financial officer.

Innogy was created by spinning off RWE AG's (>> RWE) renewable-energy business into a separate entity.

Write to Max Bernhard at [email protected]; @mxbernhard

Stocks mentioned in the article : innogy SE, RWE
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Financials (€)
Sales 2017 42 928 M
EBIT 2017 2 839 M
Net income 2017 1 250 M
Debt 2017 14 447 M
Yield 2017 4,95%
P/E ratio 2017 14,61
P/E ratio 2018 14,18
EV / Sales 2017 0,77x
EV / Sales 2018 0,80x
Capitalization 18 478 M
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Mean consensus HOLD
Number of Analysts 27
Average target price 34,1 €
Spread / Average Target 2,4%
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Managers
NameTitle
Uwe Tigges Chairman-Management Board
Hildegard Müller Chief Operating Officer-Grid & Infrastructure
Martin Friedrich Herrmann Chief Operating Officer-Retail
Hans Friedrich Bünting Chief Operating Officer-Renewables
Bernhard Günther Chief Financial Officer
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