AES Gener shares up 0.34% after delivery results
The quarterly balance was less favorable than the one expected by the market.
AES Gener filed its second quarter results, which showed a decrease in EBITDA of 3.5% over the same period last year, “a result more favorable to our expectations of 10.7%,” said Bice Inversiones.
This, says the Matte Group’s Investment bank, is explained by an increase in revenue above expectations, driven by higher average contract prices from May and June, in the SIC and SING respectively, which was offset by lower spot prices and lower demand from customers in the form of Energía Plus contracts. “Because the results were better than our expectations and market consensus we expect a positive reaction in the share price,” they concluded.
At the end of yesterday’s trading day, shares of AES Gener ended with an increase of 0.34% at $ 299.73 each, with transactions of $ 695 million.
Source: Estrategia
