GNE
29/04/2015 09:02
FORECAST
PRICE SENSITIVE
REL: 0902 HRS Genesis Energy Limited (NS)
FORECAST: GNE: Genesis Energy Dividend and Updated Earnings Guidance
Genesis Energy today confirmed that it expects to pay a FY2015 final dividend
of 8 cents per share in October this year, in line with the Prospective
Financial Information (PFI).
The headwinds to Genesis Energy's financial performance reported at the half
year have now, however, begun to crystalise, leading the Company to revise
its earnings guidance for FY2015.
Genesis Energy Chief Executive Albert Brantley said that while opportunities
remain across the portfolio, low international oil prices and the reduction
in retail electricity and gas volumes have all impacted on the Company's
financial year outlook.
"Although generation volumes have improved significantly in Q3 2015,
wholesale electricity prices have not increased in line with historical
trends for high demand and low hydro storage," he said.
The Company has updated the following FY2015 financial metrics:
o EBITDAF is now forecast to be between $330 million and $345 million
o Net Profit After Tax is expected to be between $85 million and $95 million.
The forecast Stay in Business Capital Expenditure of between $40 million and
$50 million remains unchanged.
This guidance is subject to any material adverse events, significant one-off
expenses or other unforeseeable circumstances.
End CA:00263639 For:GNE Type:FORECAST Time:2015-04-29 09:02:47
