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Results 1st Quarter 2015: REN with profits of 39,4M€

 

REN had profits of 39.4 million euros in the first quarter 2015, an increase of 49.8% compared to the similar quarter of 2014.

EBITDA stood at € 138,3M, up 9.4% on the same period of 2014, benefiting from the sale of the stake in Enagas (20,1M €), but was penalized by regulatory recent changes in the electricity sector.

CAPEX decreased 12% from € 9.5m in 2014 to 8.4m € 1st Quarter for the analogue period this year, with an increase of 0.3% in the RAB (Regulatory Asset Base) average, which reached 3.512,4M €.

Net debt fell slightly to € 2.371,7M in the first quarter 2015, 0.2% less compared to the same period of 2014. enhance the material improvement in the average cost of the debt, which fell to 4.1% compared to 4.8% of first quarter 2014.

For the Chairman and CEO of REN, Rodrigo Costa, "REN posted a solid operating result improved clearly and the cost of their debt, which had a positive impact on net income."

In May, REN will pay a dividend of 17.1 cents per share, for the net profit of 2014 (dividend yield of around 6%);