ENCE Energia y Celulosa SA (XMAD:ENC)
€ 2.704 -0.058 (-2.1%) Market Cap: 655.81 Mil Enterprise Value: 886.21 Mil PE Ratio: 15.11 PB Ratio: 1.21 GF Score: 74/100
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Ence Energia y Celulosa SA To Explain The Incorporation Of a Minority Call Transcript

Nov 17, 2020 / 03:00PM GMT
Release Date Price: €2.74 (+3.75%)
Operator

Ladies and gentlemen, good afternoon, and welcome to the ENCE conference call to explain the incorporation of a minority partner in its Renewable Energy business.

I now hand over to Mr. Ignacio Colmenares, Executive Chairman; and Mr. Alfredo Avello, CFO. Mr. Chairman, please go ahead.

Ignacio de Colmenares y Brunet;a y Celulosa
ENCE EnergÃ;S.A. - Chairman, CEO & MD

­ -

Good afternoon, ladies and gentlemen. Thank you for joining ENCE's conference to explain the incorporation of a minority partner in our Renewable Energy business. Our CFO, Alfredo Avello; and our Head of IR, Alberto Valdes, are also connected. After a summary of the transaction, we will be pleased to answer any questions you may have.

I believe this transaction is very positive for ENCE. We decided 1 year ago, as you remember, to sell a minority stake in Ence Energía due to the high valuations of renewable assets. The process was launched in February. Due to the pandemic, the process was temporary in standby. We restarted the process in June. Due

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