ContourGlobal announce a second quarter dividend of $29.30m or 4.465 cents per share, to be paid on 10 September 2021.
Other financial highlights include:
● Strong operational performance across the fleet of 115 power plants
● Consolidated revenue up 38% to $935m ($680m in H1 2020)
● Continued strong financial performance with Adjusted EBITDA of $406m up 16% from $351m in H1 2020, driven by the Western Generation acquisition (+$32.2m), stronger operational performance in renewables (+$5.5m) mainly at their Brazilian Wind assets, and a net positive FX impact of $13.6m mainly driven by EUR:USD appreciation
● Income from Operations is up 15% versus H1 2020 to $181m
● Funds from Operations ("FFO") of $219m, a 27% increase from $172m in H1 2020 with a cash conversion of 54% significantly improved from 49% in H1 2020, mainly due to the addition of Western generation and higher cash conversions in Brazil Wind, Italy Solar, Vorotan and Mexico CHP in H1 2021 compared to H1 2020
● Increase of full year guidance of Adjusted EBITDA to $780 - 810m
● Positive outlook for future growth, value realization and return of capital to shareholders
