Elia upgrades 2024 guidance to top end of range, anticipating higher profits in Germany

From Investing.com: 2024-11-29 04:57:24

Shares of Elia rose as the company upgraded its 2024 guidance to the top end of the forecast range. Net profit for 2024 is expected to reach €355-395 million, driven by strong performance in Germany. Capex remains unchanged at €3.6 billion for Germany and €1.1 billion for Belgium, with a focus on higher returns. Elia has made progress in securing its capital investment plans, with 60% already locked in. Morgan Stanley views this positively and rates Elia stock as “overweight,” anticipating above-average returns over the next 12-18 months. Full-year results will be released on March 7, 2025, with further updates expected on the company’s long-term capex strategy.



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