Contour Global (GLO)

Sector:

Electricity Generation and Distribution

Index:

FTSE 250

183.20p
   
  • Change Today:
    -0.20p
  • 52 Week High: 222.50
  • 52 Week Low: 163.00
  • Currency: UK Pounds
  • Shares Issued: 670.71m
  • Volume: 16,373
  • Market Cap: £1,228.75m
  • RiskGrade: 142

ContourGlobal earnings boosted by acquisitions

By Michele Maatouk

Date: Friday 05 Apr 2019

LONDON (ShareCast) - (Sharecast News) - Power generator ContourGlobal posted a jump in full-year profit and revenue on Friday, boosted by acquisitions, as it announced the appointment of Stefan Schellinger as its new chief financial officer.
In its preliminary results for the year to 31 December 2018, the company said adjusted earnings before interest, tax, depreciation and amortisation rose 19% to $610m, in line with the group's guidance at the half year and reflecting growth from acquisitions.

Meanwhile, revenue was 23% higher at $1.25bn and ContourGlobal proposed a full year dividend of 13.4 cents a share, up from 11.9 cents the year before.

The company, which noted its intention to increase the dividend by around 10% a year going forward, set its guidance for 2019 adjusted EBITDA at between $720m and $770m.

President and chief executive officer Joseph C. Brandt said: "We succeeded in delivering a good set of results in 2018, our first full year since our initial public offering. We delivered on our operational, financial and growth commitments, including another record-setting Health and Safety performance. Excellent progress was made on growth targets, including the acquisition and integration of our Spanish CSP portfolio, the signing of a highly accretive cogeneration acquisition in Mexico just after year end, and hitting milestones on key developments, in particular, our wind repowering projects in Austria and our development project in Kosovo.

"We continue to make progress on our target to double run-rate 2017 adjusted EBITDA by 2022 through profitable, selective growth and high-performance operations."

ContourGlobal also said on Friday that Stefan Schellinger has been appointed as its new CFO with effect from 15 April.

Schellinger was group finance director of plastic and fibre products supplier Essentra from 2015 until 2018, having joined the company as corporate development director in 2013. Prior to this, he was FD of Emerging Markets at Gilbarco Veeder Root.

He has previously worked as vice president in investment banking at JP Morgan and started his career in accountancy at Arthur Andersen.

RBC Capital Markets analyst Alexander Wheeler said: "We believe that there is significant growth potential in the ContourGlobal investment case, with a strong development pipeline and M&A driving a doubling of adj EBITDA by 2022E, from $513m reported at year-end 2017.

"Furthermore, the experience of the company on large M&A transactions should help to mitigate potential execution risk, whilst we do not see overhang risk from the exit of the major shareholder as presenting significant downside versus the potential upside offered by additional liquidity."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Contour Global Market Data

Currency UK Pounds
Share Price 183.20p
Change Today -0.20p
% Change -0.11 %
52 Week High 222.50
52 Week Low 163.00
Volume 16,373
Shares Issued 670.71m
Market Cap £1,228.75m
RiskGrade 142

Contour Global Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
59.72% above the market average59.72% above the market average59.72% above the market average59.72% above the market average59.72% above the market average
33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average
Price Trend
19.59% below the market average19.59% below the market average19.59% below the market average19.59% below the market average19.59% below the market average
11.11% above the sector average11.11% above the sector average11.11% above the sector average11.11% above the sector average11.11% above the sector average
Income
65.36% above the market average65.36% above the market average65.36% above the market average65.36% above the market average65.36% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Growth
51.39% below the market average51.39% below the market average51.39% below the market average51.39% below the market average51.39% below the market average
75% below the sector average75% below the sector average75% below the sector average75% below the sector average75% below the sector average

What The Brokers Say

Strong Buy 2
Buy 0
Neutral 1
Sell 0
Strong Sell 0
Total 3
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Contour Global Dividends

  Latest Previous
  Q3 Q2
Ex-Div 12-Dec-19 15-Aug-19
Paid 31-Dec-19 06-Sep-19
Amount 3.69¢ 3.69¢

Trades for 21-Feb-2020

Time Volume / Share Price
16:35 3,670 @ 183.20p
16:28 48 @ 184.80p
16:28 165 @ 184.80p
16:28 85 @ 184.80p
16:27 38 @ 185.00p

Contour Global Key Personnel

Chair Craig Huff
CFO Stefan Schellinger

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