Exmar jumps on 'very welcome' 5-year contract

EXMAR NV

18/03/2022 08:54

** Shares in Exmar  EXMR.BR  rise 9% after the provider of
floating solutions for operation, transportation and
transformation of gas announced an agreement to redeploy its
floating storage and re-gasification unit FSRU S188 with Gasunie
LNG Holdings BV  urn:newsml:reuters.com:*:nL5N2VL1JP
    ** Gasunie will use the FSRU S188 as floating LNG import
terminal in Groningen, the Netherlands, the group said
    ** The new 5-year contract for Exmar is "very welcome", KBC
says, estimating the FSRU will bring in around $18 mln in EBITDA
on a yearly basis
    ** "The redeployment is definitely positive for Exmar's
financial situation and doesn't come a day too late," the broker
says, as the announcement comes just before the group's annual
results expected later on Friday
    ** The contract gives the group some financial breathing
space, KBC adds, upgrading its rating to "buy" from "hold"
    ** Including today's rise, the stock has gained 26.6% YTD

 (Reporting by Federica Mileo in Gdansk)
 ((Federica.mileo@thomsonreuters.com))