Cenergy Holdings SA
21.79
EUR
-0.61
(-2.72%)
Cenergy Holdings SA
LSE:0RL2
(London Stock Exchange)
Recent
price
21.79
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ROIC.AI
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- Business
- Cenergy Holdings S.A. (CENER.BR) serves as a holding company that invests in leading industrial firms focused on energy transfer, renewables, data transmission, telecommunications, and construction sectors; it produces and supplies submarine and land power cables from low to extra-high voltage (LV, MV, HV, EHV, HVDC), inter-array cables for offshore wind farms, optical fiber and telecommunication cables, data and signaling cables, industrial and railway cables, flexible subsea pipes, umbilicals, and turnkey solutions including installation, repair, and project management services through subsidiaries such as Hellenic Cables S.A. (including Fulgor S.A.), Icme Ecab in Romania, and Hellenic Cables Americas; in the steel pipes segment, Corinth Pipeworks S.A. (including CPW Wind S.A. and CPW Solar S.A.) manufactures high-frequency welded (HFW), longitudinal submerged arc welded (LSAW), and helical submerged arc welded (HSAW) steel pipes alongside hollow sections for offshore and onshore oil and gas pipelines, hydrogen transportation, carbon capture and storage, wind and solar structures, and construction applications. Founded in 2016 as a spin-off from the Hellenic Cables and Corinth Pipeworks Group within the Viohalco S.A. portfolio, the company maintains headquarters at 30 Marnix Avenue, Brussels, Belgium, with primary production facilities in Greece (Corinth, Thiva, Eleonas, Oinofyta), Romania (Bucharest), Bulgaria (Blagoevgrad), and emerging operations in the United States (Baltimore, Maryland); it generates 77% of revenue from exports outside Greece across Europe, the Americas, Asia, Africa, and Oceania, serving major clients including TSOs like RTE, TenneT, 50Hertz, and utilities such as E.ON, Vattenfall, Enel, Ørsted, along with offshore contractors like DEME, Van Oord, and Subsea7. Recent developments include a EUR 259 million investment program in 2024, with EUR 217 million allocated to cables capacity expansions at Corinth (offshore), Thiva, and Eleonas (onshore) plants plus the new Baltimore facility acquisition and construction start valued at US$200 million targeting completion by 2027; steel pipes upgrades via a dedicated finishing line to eliminate LSAW/HSAW bottlenecks; new contract awards such as a framework with RTE for Bretagne Sud, Subsea7 North Sea offshore pipes, Enexis multi-year MV/LV cables, and Woodside's 118km HFW pipes for Trion in Mexico; a EUR 200 million share capital increase in October 2024 to fund U.S. expansion and reduce net debt to EUR 152 million; record adjusted EBITDA of EUR 272 million (+27% y-o-y) on EUR 1.8 billion revenue (+10% y-o-y) with a EUR 3.44 billion backlog; and a proposed EUR 0.14 per share dividend (+75% y-o-y).