ERG SpA (MIL:ERG)
€ 22.84 0.22 (0.97%) Market Cap: 3.35 Bil Enterprise Value: 5.48 Bil PE Ratio: 13.90 PB Ratio: 1.59 GF Score: 77/100
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Nine Months 2020 ERG SpA Earnings Call Transcript

Nov 11, 2020 / 10:00AM GMT
Release Date Price: €20.38 (-1.55%)
Operator

Good morning. This is the Chorus Call conference operator. Welcome, and thank you for joining the ERG Third Quarter 2020 Results Conference Call. (Operator Instructions)

At this time, I would like to turn the conference over to Mr. Luca Bettonte, CEO of ERG. Please go ahead, sir.

Luca Bettonte
ERG S.p.A. - Director

Good morning, everybody, and thanks for coming to this conference call on our third quarter results. As usual, here with me is Paolo Merli, Corporate General Manager and CFO.

Let's start from the Chart 4, showing you the highlights for the quarter, with an EBITDA that came in at EUR 99 million. That's EUR 107 million in the third quarter '19. In order to develop a further understanding of this slightly lower result and before going through the industry drivers [affecting] the quarter, I suggest you take into account 2 specific items that have had a negative impact on the foregoing comparison. The first, as through the -- with the full consolidation of Barkow wind farms 9 months 2019 EBITDA in 1 shot in Q3 in the third quarter of

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