Brief: Acsm-Agam Approves Industrial Plan 2019-2023, Sees 2023 EBITDA Of Eur 124 Mln

Acinque SpA

05/12/2018 07:16

Dec 5 (Reuters) - Acsm-Agam SpA  ACAG.MI :
    * SAID ON TUESDAY THAT ITS BOARD OF DIRECTORS APPROVED
INDUSTRIAL
PLAN 2019-2023, FIRST ONE POST AGGREGATION 
    * SEES CUMULATIVE INVESTMENTS OF 568 MILLION EUROS IN
INDUSTRIAL
PLAN'S TIME FRAME, MAINLY CONCENTRATED IN THE NETWORKS BUSINESS
UNIT FOLLOWING ATEM GAS DISTRIBUTION TENDERS
    * EXPECTS 2023 EBITDA OF 124 MILLION EUROS, REVENUE OF 518
MILLION
EUROS 
    * 2023 EBIT AND NET PROFIT ARE ALSO EXPECTED TO SHOW GROWTH,
WHICH
IS EXPECTED TO REACH 59 MILLION EUROS AND 37 MILLION EUROS
    * SEES EBITDA OF 64 MILLION EUROS IN 2019
    * SAID 2019 WILL BE AFFECTED BY THE SHUTDOWN OF THE
WASTE-TO-ENERGY PLANT (ABOUT 8 MONTHS) DUE TO THE REVAMPING OF
ONE OF THE TWO LINES
    * SEES INCREASE IN 2019-2023 DIVIDEND PAYOUT; ESTIMATES DIV
PAYOUT
AT 80 PCT OF GROUP'S NET PROFIT
    * SEES NET TOTAL DEBT UP AT 315 MILLION EUROS IN 2023 WITH
NET
FINANCIAL POSITION TO EBITDA RATIO OF 2.5X AND LEVERAGE OF 0.60

    
 Source text for Eikon:  urn:newsml:reuters.com:*:nBIATFgHp
    
 Further company coverage:  ACAG.MI  
   


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