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    HRHO   EGS69101C011

EFG-HERMES HOLDING S.A.E

(HRHO)
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EFG Hermes E : partners with Spain's Ignis Energia for $725 million investment

10/04/2021 | 08:01am EST
An Egyptian man walks past a branch of the EFG Hermes investment bank in Cairo

MADRID (Reuters) - Investors led by Egypt's EFG Hermes have pledged to pour more than 625 million euros ($725.75 million) into Ignis Energia in return for a stake in the Spanish renewable energy developer, the companies said on Monday.

The deal struck by Vortex Energy, a platform managed by Egypt's largest investment bank, is the latest in a series of cross-border investments in renewable energy, a sector boosted by global targets to cut planet-warming carbon emissions.

Founded in 2015, Ignis wanted funds to help it develop a portfolio which contained renewable projects with more than 14 gigawatts of capacity in 2020.

Vortex Energy will make the investment in stages over the coming years through a series of capital injections, the companies said in a statement. The total 625 million euros would represent 49% of Ignis, a person familiar with the matter said.

Ignis was managing sites with 2.9 GW in total capacity in 2020, turning over 130 million euros ($154.05 million) and employing 200 people, according to its website. It struck a deal to develop a 3.3 gigawatt pipeline of projects with France's TotalEnergies last year.

Santander, Royal Bank of Canada and Watson Farley Williams advised Vortex Energy, while Citi and Cuatrecasas worked for Ignis. 1

($1 = 0.8612 euros)

(Reporting by Isla Binnie; Editing by Chizu Nomiyama)


ę Reuters 2021
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Financials
Sales 2021 5 961 M 381 M 381 M
Net income 2021 1 354 M 86,4 M 86,4 M
Net Debt 2021 - - -
P/E ratio 2021 9,81x
Yield 2021 0,40%
Capitalization 13 005 M 828 M 830 M
Capi. / Sales 2021 2,18x
Capi. / Sales 2022 1,79x
Nbr of Employees 825
Free-Float 71,0%
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EFG-Hermes Holding S.A.E Technical Analysis Chart | HRHO | EGS69101C011 | MarketScreener
Technical analysis trends EFG-HERMES HOLDING S.A.E
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TrendsBullishBullishBullish
Income Statement Evolution
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Mean consensus BUY
Number of Analysts 5
Last Close Price 14,10 EGP
Average target price 20,20 EGP
Spread / Average Target 43,3%
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Managers and Directors
Karim Aly Awad Saleh Salama Group Chief Executive Officer & Executive Director
Mohamed Khaled M. Khabir Group Chief Financial Officer
Mona Salahuddin Zulficar Non-Executive Chairman
Mohamed El-Wakeel Group Chief Operating Officer
Abdel Wahab Mohammed Gadayel Group Chief Risk & Compliance Officer
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