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

INNOGY SE (IGY)
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Innogy : to spend 1.2 billion euros on e-mobility, solar, glass fibre

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09/21/2017 | 03:56pm CEST
Innogy logo in Essen, Germany

FRANKFURT (Reuters) - Innogy (>> Innogy SE), Germany's largest energy group by market value, will spend up to 1.2 billion euros (£1.06 billion) on e-mobility, photovoltaics and glass fibre networks by 2019, it said in a statement on Thursday.

FRANKFURT (Reuters) - Innogy (>> Innogy SE), Germany's largest energy group by market value, will spend up to 1.2 billion euros (£1.06 billion) on e-mobility, photovoltaics and glass fibre networks by 2019, it said in a statement on Thursday.

Having been carved out from parent RWE (>> RWE) and separately listed on the stock exchange last year, Innogy now focuses on gas and power networks, renewables and energy retail. RWE still holds a 76.8 percent stake.

A spokeswoman said that the 1.2 billion euro figure is included in Innogy's existing investment plan, under which it will spend 6.5-7.0 billion euros in the 2017-2019 period.

Laying out details of its corporate strategy, Innogy also said it would strengthen its portfolio via acquisitions and divestments, adding it would dispose of units where it is not leading in terms of market share and margins by 2025.

"In the long run, having a positive figure on the bottom line is no longer sufficient for a business segment. If we want to be viable in the future as a company, we need to be among the best," Chief Executive Peter Terium said in a statement.

Terium, who swapped his job as RWE CEO for that at Innogy after the latter's successful carve-out last year, said there would be no taboos with regard as to how that might be achieved.

(Reporting by Christoph Steitz; Editing by Arno Schuetze and Victoria Bryan)

Stocks treated in this article : RWE, Innogy SE
Stocks mentioned in the article
ChangeLast1st jan.
INNOGY SE 0.22% 36.68 Delayed Quote.12.26%
RWE 1.33% 22.16 Delayed Quote.30.35%
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Financials (€)
Sales 2018 40 003 M
EBIT 2018 2 706 M
Net income 2018 1 237 M
Debt 2018 15 213 M
Yield 2018 4,43%
P/E ratio 2018 16,62
P/E ratio 2019 16,46
EV / Sales 2018 0,89x
EV / Sales 2019 0,91x
Capitalization 20 333 M
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Mean consensus HOLD
Number of Analysts 21
Average target price 37,1 €
Spread / Average Target 1,1%
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NameTitle
Uwe Tigges Chairman-Executive Board & Chief Executive Officer
Erhard Walter Schipporeit Chairman-Supervisory Board
Hildegard Müller Chief Operating Officer-Grid & Infrastructure
Martin Friedrich Herrmann Chief Operating Officer-Retail
Hans Friedrich Bünting Chief Operating Officer-Renewables
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