Elia rises on positive short-term targets

Elia SA

08/12/2023 09:22

** Shares in Elia Group  ELI.BR  rise around 3% after the
Belgian grid operator forecast double-digit percentage growth in
EPS over the next five years
    ** The group sees 2024 net profit of 335-385 million euros
($361-415 million) and adjusted return on equity of 7% to 8% 
    ** Analyst from Degroof Petercam say the short-term profit
outlook looks good, but adds "the relative uncertainty on the
financing would need to become more clear"
    ** In late November, Elia unveiled a new five-year capex
plan for 2024-2028, targeting 30.1 billion euros, which analysts
from ING deemed "a relief for the markets"
    ** The stock tops the Belgium's blue-chip BEL 20 index
 .BFX  
    ​
($1 = 0.9273 euros)

 (Reporting by Lina Golovnya)
 ((lina.golovnya@tr.com))