May 24, 2024 07:07 GMT
Acciona Energia (ANESM Nr/NR/BBB-): Guidance Cut
UTILITIES
Negative for spreads
• 2024 EBITDA guidance cut due to low prices for wind generated electricity in Q1. Now expects EBITDA to be lower than previous guidance but doesn’t say by how much.
• Average price achieved was 30% lower in Q1 YoY.
• It expects better slightly better pricing for the full year due to extraordinary weather conditions in Q1 and hedges in place (75% of Spain output protected).
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