Sif inches down after H1 results, analyst views mixed
26/08/2022 14:06
** Shares in Sif Holding SIFG.AS edge down 2% after the Dutch renewable
energy equipment maker reports a fall in H1 sales and confirms FY outlook,
prompting mixed views from analysts
** Its H1 revenue declines 23% to 191.3 mln euros ($190.7 mln), with
adjusted EBITDA of 21.1 mln euros vs 20.6 mln euros last year urn:newsml:reuters.com:*:nFWN3012CU
** Kepler Cheuvreux analyst Andre Mulder says results were below the
broker's expectations, especially for offshore wind
** "Furthermore people may have expected a raise of FY guidance as it was
considered conservative," Mudler adds
** ING's Tijs Hollestelle, who flagged "solid" Q2 results in a morning note,
says in an email the numbers are not a main driver for the shares, as the equity
story is "kept hostage by the pending capacity expansion plan"
** He notes the plan requires a significant investment, and the details on
financing and the final investment decision are not yet announced
** "The stock price already rose ahead of the numbers without any particular
good news to explain the share price move," Hollestelle adds, pointing to
Thursday's 4.9% rise
** Including Friday's drop, the stock is down 7.8% YTD
($1 = 1.0034 euros)
(Reporting by Elena Vardon)
((elena.vardon@tr.com))