March 22, 2018 / 7:10 AM / 5 months ago

BRIEF-Cenergy Holdings FY Loss Widens To 4.8 Million Euros

March 22 (Reuters) - CENERGY HOLDINGS SA:

* FY ADJUSTED EBITDA OF EUR 57.3 MILLION COMPARED TO EUR 59.7 MILLION IN 2016;

* FY LOSS EUR 4.8 MILLION VERSUS LOSS EUR 3.8 MILLION YEAR AGO

* PROJECTS SECURED FOR 2018 SIGNAL A POSITIVE OUTLOOK FOR THE YEAR‍​

* FY REVENUE EUR 758 MILLION VERSUS EUR 692 MILLION YEAR AGO

* THE TAP PIPELINE TO TRANSPORT AZERI GAS TO EUROPE AND ITS INTERCONNECTIONS TO VARIOUS COUNTRIES IS EXPECTED TO PRESENT FURTHER OPPORTUNITIES THROUGHOUT THE YEAR

* SEES 2018 RAW MATERIALS PRICES REMAINING HIGH, WHICH MAY NEGATIVELY AFFECT PROFIT MARGINS

* SAYS IMPROVEMENTS IN CENERGY HOLDINGS’ OPERATING ENVIRONMENT ARE EXPECTED TO CONTINUE TO DRIVE DEMAND FOR NEW OFFSHORE PROJECTS IN EUROPE IN 2018

* SAYS THE RECOVERY OF THE CABLES PRODUCTS MARKET IN WESTERN EUROPE IS ENCOURAGING AND IS EXPECTED TO PRESENT FURTHER OPPORTUNITIES IN 2018 Source text : bit.ly/2FTqiSp Further company coverage: (Gdynia Newsroom)

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