ContourGlobal PLC ContourGlobal upgrades guidance (5961U)
06 December 2021 - 06:00PM
UK Regulatory
TIDMGLO
RNS Number : 5961U
ContourGlobal PLC
06 December 2021
6 December 2021
ContourGlobal plc
ContourGlobal upgrades guidance for the year ending 31 December
2021
ContourGlobal plc (the "Company"), an international owner and
operator of contracted wholesale power generation businesses, today
upgrades guidance for the year ending 31 December 2021.
Given current trading and in particular the stronger than
anticipated financial performance of our natural gas fired power
plant based in Arrubal, Spain, the Company now expects FY 2021
adjusted EBITDA to be $810-840(1) million, up to $30 million above
the guidance range communicated on 25 October 2021 of $780-$810(1)
million.
The Arrubal power plant has been operating on a merchant basis
since the purchase power agreement expired in July 2021 and has
benefitted from a meaningful level of dispatch during the last
couple of months as a result of the current market environment in
Spain.
1 Assuming 2021 exchange rates of EUR/USD 1.19 and BRL/USD 0.18
Enquiries
Investor Relations - ContourGlobal
Jose Cano
+44 203 626 9062
jose.cano@contourglobal.com
investor.relations@contourglobal.com
Media - Brunswick
Charles Pretzlik / Will Medvei
Tel: +44 (0) 207 404 5959
Contourglobal@brunswickgroup.com
ABOUT CONTOURGLOBAL
ContourGlobal is listed on the premium segment of the London
Stock Exchange (TKR: GLO). ContourGlobal is an international owner
and operator of contracted wholesale power generation businesses
with approximately 6.3 GW in operation in 20 countries.
ContourGlobal operates a portfolio of 114 thermal and renewable
power plants across Europe, North America, Latin America, and
Africa utilizing a wide range of technologies.
Cautionary note regarding forward-looking statements
These results include statements that are, or may be deemed to
be, "forward-looking statements". These forward-looking statements
can be identified by the use of forward-looking terminology,
including the terms "believes", "estimates", "anticipates",
"expects", "intends", "plans", "goal", "target", "aim", "may",
"will", "would", "could" or "should" or, in each case, their
negative or other variations or comparable terminology. These
forward-looking statements include all matters that are not
historical facts. They appear in a number of places throughout
these results and the information incorporated by reference into
these results and include statements regarding the intentions,
beliefs or current expectations of the directors or the Company
concerning, amongst other things, the results of operations,
financial condition, liquidity, prospects, growth, strategies and
dividend policy of the Company and the industry in which it
operates.
By their nature, forward-looking statements involve risks and
uncertainties because they relate to events and depend on
circumstances that may or may not occur in the future and may be
beyond the Company's ability to control or predict. Forward-looking
statements are not guarantees of future performance. The Company's
actual results of operations, financial condition, liquidity,
dividend policy and the development of the industry in which it
operates may differ materially from the impression created by the
forward-looking statements contained in these results and/or the
information incorporated by reference into these results. In
addition, even if the results of operations, financial condition,
liquidity and dividend policy of the Company and the development of
the industry in which it operates, are consistent with the
forward-looking statements contained in these results and/or the
information incorporated by reference into these results, those
results or developments may not be indicative of results or
developments in subsequent periods.
Other than in accordance with its legal or regulatory
obligations, the Company does not undertake any obligation to
update or revise publicly any forward-looking statement, whether as
a result of new information, future events or otherwise.
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END
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