Elia slips as financing uncertainties continue

Elia SA

22/05/2024 12:06

** Shares in Elia Group  ELI.BR  fall 3.3% after the Belgian
grid operator published a first-quarter update that analysts say
failed to clarify its financing strategy 
    ** "Investors are reminded of the high capital needs and
uncertainty over the financing mix," KBC analyst Wim Lewi says 
    ** A change of CEO and a new financing plan will likely
occur after the summer, Lewi adds
    ** Elia maintains its 2024 guidance, which includes a 35
million-45 million euros ($38 million-$49 million) loss in the
non-regulated segment and Nemo Link segment, and funding costs
of 20 million-25 million euros from the Eurogrid capex plan
    ** Stock is on track for its worst day since March 26, when
it closed 3.4% lower 
    
($1 = 0.9226 euros)

 (Written by Alban Kacher)
 ((alban.kacher@thomsonreuters.com))