Last €1.11 EUR
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Volume 802.4K
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As of 11:30 AM 07/25/14 All times are local (Market data is delayed by at least 15 minutes).

iren spa (IRE) Snapshot

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03/12/14 - €1.36
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08/28/13 - €0.83
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iren spa (IRE) Details

Iren S.p.A., a multiutility company, is primarily engaged in the production, distribution, and sale of electricity in Italy. It produces electricity principally from hydroelectric and renewable sources. The company also produces and sells heat; and distributes and sells gas and district heat. It distributes electrical energy through its 7,439 kilometers of low, medium, and high voltage networks to approximately 691,000 customers in Turin and Parma; and gas through its 9,000 kilometers network to approximately one million customers. In addition, the company is involved in the provision of technological services that include network engineering services to the markets comprising IT, modelling, and simulation, as well as upgrading services for technological networks; and design and management of waste treatment and disposal plants, as well as management of production plants for district heating. Further, it is engaged in the collection and disposal of waste; sale and distribution of water; and provision of water treatment and sewerage services. Additionally, the company provides street and traffic light services; telecommunications services; and services for the management of air conditioning systems in public buildings. It is also involved in the management of heating and electrical systems; management of technological systems at sports and public service facilities; and maintenance of public parks, snow removal, and cemetery services. The company sells approximately 3.2 billion cubic meters of gas; approximately 17,053 GWh of electrical energy; and 2,980 GWht of heat for the district heating networks, as well as operates 12 hydroelectric plants and 8 thermoelectric cogeneration plants. Iren S.p.A. is headquartered in Reggio Emilia, Italy.

4,529 Employees
Last Reported Date: 05/14/14

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iren spa (IRE) Key Developments

Iren SpA Reports Unaudited Consolidated Earnings and Production Results for the First Quarter Ended March 31, 2014

Iren SpA reported unaudited consolidated earnings and production results for the first quarter ended March 31, 2014. Consolidated revenues in first quarter 2014 amounted to EUR 903.1 million, a 18.3% fall compared to the EUR 1,105.6 million reported in the first quarter 2013, mainly because of a reduction in gas and heat volumes sold linked to the mild winter season, and because of a drop in electricity price. Gross operating profit (Ebitda), stood at EUR 203.3 million, down by 17.3% compared to the EUR 245.7 million in the first quarter 2013. Operating profit (EBIT) totalled EUR 128.7 million, a reduction compared to EUR 175.9 million reported in the same period of the previous year. Net profit attributable to owners of the Parent from stands at EUR 51.3 million, a 38.0% drop compared to the EUR 82.7 million reported at 31 March 2013 and it is mainly influenced by the operating results. Profit before tax was EUR 100.216 million against EUR 150.393 million reported last year. Profit for the period from continuing operations was EUR 54.810 million against EUR 85.429 million reported last year. Operating cash flow was EUR 53.874 million against EUR 62.845 million reported last year. Investments in tangible and intangible assets were EUR 43.286 million against EUR 36.084 million reported last year. Net financial debt at the end of the first quarter 2014 stood at EUR 2,175 million, EUR 17 million lower compared to the EUR 2,192 million at 31 March 2013 thanks to a positive cash flow. In the first three months of 2014, electricity volumes generated amounted to 2,258 GWh, in line with the 2,278 GWh reported in the same period of 2013; lower cogeneration production has been, in fact, offset by the production of the Turbigo plant, which entered the Group perimeter from November 2013, and by higher hydroelectric production. Cogenerative/thermoelectric production stood at 2,013 GWh compared to 2,122 Gwh in the same period of 2013, whereas hydroelectric generation stood at 245 GWh, marking a very significant growth (+57%) due to the favourable situation of the water basins and to the contribution of the hydroelectric plant of Tusciano, which entered the Group plant portfolio starting from 2013. Heat production stood at 1,256 GWht, down 18% compared to first quarter 2013 as a consequence of the climate conditions, while the heated volumes were more than 79 mcm.

Hera, Iren and Smat to Jointly Develop Integrated Water Management

Hera, Iren and Smat signed an agreement to jointly develop integrated urban water management via research and innovation. The three utilities will work in applied research, technological development and innovation by combining their experience, know-how and study. The companies will join resources and share research infrastructure, aiming to also cooperate with universities, research bodies and other businesses.

Iren SpA Reports Consolidated Earnings Results for the Year Ended December 31, 2013

Iren SpA reported consolidated earnings results for the year ended December 31, 2013. For the year, consolidated revenues amounted to EUR 3,448.0 million, a fall compared to the EUR 4,327.9 million reported in 2012, mainly because of the group's more selective commercial strategy, which provides for concentration on the micro business and retail sectors, and because of the trend in commodities price. Operating profit (EBIT) totalled EUR 313.1 million, a 6.3% decrease compared to EUR 334.1 million in the previous year, mainly due to extraordinary accounting effects and to the prudential increase of the bad debt provision. Net profit from operations stands at EUR 133.8 million, a 6.8% increase compared to the EUR 125.3 million in 2012. Net financial debt at 31 December 2013 totaled EUR 2,525 million compared to the EUR 2,555 million at 31 December 2012. This reduction is attributable to the positive effects of the economic results and of the actions undertaken by the Group which has led to a significant reduction in Net Working Capital. Gross operating profit (EBITDA) was EUR 646,017,000 compared to EUR 629,605,000 a year ago. Profit before tax was EUR 213,989,000 compared to EUR 234,692,000 a year ago. Profit attributable to owners of the parent was EUR 80,554,000 compared to EUR 152,559,000 a year ago. Operating cash flow was EUR 472,682,000 compared to EUR 378,571,000 a year ago. Investments in tangible and intangible assets were EUR 351,538,000 compare to EUR 339,749,000 a year ago.


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Valuation IRE Industry Range
Price/Earnings 28.2x
Price/Sales 0.4x
Price/Book 0.8x
Price/Cash Flow 4.6x
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