IN BRIEF: Esken cuts earnings guidance due to unplanned outages
Esken Ltd - London-based aviation services & renewable energy group - Says biomass plant customers experienced unplanned outages during the winter months. These continued and further unforeseen outages in turn have reduced the total volume of waste wood supplied by Esken and the associated gate fee income. Esken says it would normally expect to make up these losses over time, however, the proximity to year-end has made this unlikely. Esken Renewables is now expected to deliver earnings before interest, tax, depreciation and amortisation of GBP20 million for the full year ending February 28, compared to the previous guidance of GBP22 million. In May, it reported that its core operating businesses generated a combined adjusted Ebitda of GBP19.5 million in financial year 2022.
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