What’s new? FY 2021 results came in line with our EBITDA estimate for E86m, but a bunch of negative structural items rendered this totally irrelevant. The outlook for the investment case is negative. And this is even more frustrating considering EYDAP could be an infrastructure haven (monopoly, cash flows, dividend). On the contrary, it looks…
We welcome the agreement with the state over the cost of crude water -both retroactively (2013-2020) and going forward (2020-2040)- in light of the forthcoming exclusive license renewal for an additional 20YRS. Next steps should be introducing a RAB model and dealing with the huge and unfunded healthcare & pension deficit on balance sheet. But…
The safe approach is to do the following: a)…
With this note we briefly share our views on all the names we cover. We start with our OI picks, followed by Radar and DOI names. We have added several names in our Universe, most of which on a Not Rated (NR) basis.
The conclusion is we cannot turn positive on Athens Water until we know:…contact@researchgreece.com