Brief: Rubis Completes Acquisition Of Photosol

Rubis SCA

14/04/2022 17:42

April 14 (Reuters) - RUBIS SCA  RUBF.PA :
    * RUBIS: RUBIS COMPLETES THE ACQUISITION OF PHOTOSOL, A
LEADING
INDEPENDENT FRENCH SOLAR ENERGY PLAYER
    * ACQUISITION IS FULLY DEBT FINANCED, LEADING TO PROFORMA
NET
DEBT/EBITDA BELOW 2.5X
    * NO MATERIAL IMPACT ON RUBIS EARNINGS PER SHARE (EPS) IN
THE
SHORT TERM, WITH SIGNIFICANT ACCELERATION IN EBITDA AND EARNINGS
CONTRIBUTION FROM PHOTOSOL IN THE MID AND LONG TERM
    * CONFIRMS ITS STABLE DIVIDEND POLICY WITH A PAYOUT OVER 60%
AND A
MID- TO LONG-TERM DIVIDEND GROWTH IN LINE WITH EPS
    * FINANCIAL TERMS OF DEAL AND FINANCIAL IMPACT: EUR 385
MILLION
CASH PAYMENT FOR 80% STAKE, CONSOLIDATION OF 100% OF PHOTOSOL
NET DEBT OF EUR 362 MILLION, LEADING TO A TOTAL IMPACT ON RUBIS'
CONSOLIDATED NET FINANCIAL DEBT OF EUR 747 M PROFORMA 2021
    * ACQUISITION IS FULLY DEBT FINANCED, LEADING TOPROFORMANET
DEBT/EBITDA BELOW 2.5X
    * FOUNDERS AND THE MANAGEMENT OF PHOTOSOL PURSUE OBJECTIVE
OF
INCREASING INSTALLED CAPACITY TO 1 GW BY 2025 AND TO 2.5 GW BY
2030, SUPPORTING 40% EBITDA GROWTH OVER 2022-2025 (COMPOUND
ANNUAL GROWTH)

Source text for Eikon:  ID:nEQ1fDQjJa 
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