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Beat! Beat! Beat! On every metric and divi covered 2.8x!
? Record financial performance with revenue up 53% to $2,152 million
? Adjusted EBITDA[1] up 17%, 15% on constant currency basis to $842 million
? Funds from Operations[2] up 16% to $440 million
? Record CFADS[3] of $367m up 34% year-on-year
? Income from Operations up 20% to $370 million
? Dividend up 10%, in line with our progressive dividend growth policy and representing a dividend coverage[4] of 2.8x
I told ya, not that many bought these!
This is one of the best income plays on the LSE!
I am now getting 8.48% income quarterly and that will grow 10% yoy! Sometimes the market gets it wrong, well more times than you’d think!
Good luck with your investments!
Usual caveats
Trek
I did Trek!
Not enough though but very pleased so far.
Many thanks for that.
Happy days :)
Well done all.
I took your advice too and purchased GLO - cheers!
Trek, a big thanks for your posts on GLO & PXC. Very blue on both. The interesting thing about both is that I don't feel the need to continually check the share price.
Wow, well done guys!
Good to tuck these away for a few years and enjoy the income.
Not that it matters but £1k of my divi will go to charity including Ukraine.
I am a great believer in sharing a little good leads to other people doing more good.
On their web call now then will be out to enjoy this sunshine.
Peace to all!
Trek
Right on brother......this is a keeper excellent dividend like some others wish i had purchased more.....
“ (Alliance News) - ContourGlobal PLC said on Friday it delivered a record financial performance in 2021 as a result of good power plant operations and increased its quarterly dividend payout.
The London-based power generation company with assets across the world reported a pretax profit of USD142.9 million in 2021. This was nearly double the previous year's figure of USD72.3 million.
Revenue totalled USD2.15 billion, up 53% from USD1.41 billion. Of this, thermal energy revenue grew 77% year-on-year to USD1.71 billion, while renewable energy declined 0.8% to USD443.7 million against the previous year.
ContourGlobal said this revenue increase was mainly driven by its Western Generation acquisition completed in February, higher CO2 pass through revenue from its Maritsa thermal power plant in Bulgaria and higher pricing at its Arrubal power plant in Spain.
Adjusted earnings before interest, tax, depreciation and amortisation grew 17% to USD841.5 million from USD722.0 million.
The company declared a fourth quarter dividend of 4.465 cents per share, reflecting a 10% year-on-year growth.
ContourGlobal added it has started the financial year positively and is currently trading ahead of expectations.
Shares in ContourGlobal were up 0.6% at 191.60 pence on Friday morning in London.
By Heather Rydings; heatherrydings@alliancenews.com
Copyright 2022 Alliance News Limited. All Rights Reserved.”
Trek
@TrekMadone, thanks for your posts.
Any interesting questions raised on the call? Analysts generally happy or any concerns?
Only two questions interestingly both from analyst (investec and liberum ).
Discussing CO2 offsets, European pricing risks. Not much really all well covered by Joe.
I was disappointed that the web call didn’t take questions. You had to be on the dial in. Although their IR are very good and will reply promptly.
I had two takeaways. One was the significance of the forward selling price differential over the short term spot price selling.
GLO are boxing clever playing the arbitrage to get a better price for their energy selling up to a year out. The benefits with the current vix are more than I realised.
The financial performance was as we know outstanding and he laid out plans for growth which was one of my other concerns.
As for debt I wasn’t worried anyway but it’s worth checking out the slides it’s clearly explained.
Another point of interest was a throwaway comment on Trinidad and Tobago gas. My biggest position is TXP which is why I looked up!
At around 80p TXP is a significant tip. Lots of transformational news due soon and it’s balance sheet is very healthy with a good RCF on excellent terms for todays market. High risk that one though but for those that want exposure to an energy provider with near term exploration and additional production upside in a safe jurisdiction it’s worth a look. Expect a range of 72-90p for now though.
Usual caveats
Trek