Genel Energy (GENL)

Sector:

Energy Producers

83.30p
   
  • Change Today:
    -0.50p
  • 52 Week High: 134.00
  • 52 Week Low: 64.90
  • Currency: UK Pounds
  • Shares Issued: 279.40m
  • Volume: 262,584
  • Market Cap: £232.74m

Genel Energy swings to losses as revenues improve

By Josh White

Date: Wednesday 20 Mar 2019

LONDON (ShareCast) - (Sharecast News) - Genel Energy reported a fall in production in its full-year results on Wednesday, to 33,700 barrels of oil per day (bopd) from 35,200 bopd a year earlier, although its revenue was higher at $355.1m from $228.9m.
The London-listed firm said its EBITDAX - earnings before intangible asset impairment, tax, depreciation, amortisation and exploration credits - was $304.1m for the year ended 31 December, down from $475.5m in 2017.

It swung to an operating loss of $254.6m for the year, from an operating profit of $298m a year earlier, while its cash flow from operating activities rose to $299.2m from $221m.

Capital expenditure during the year totalled $95.5m, up from $94.1m, and free cash flow improved to $164.2m from $99.1m.

Cash at year-end was $334.3m, which was higher than the $162m reported at the end of 2017, while total debt remained in line with the prior year at $300m.

Basic losses per share were 101.6 US cents, swinging from earnings of 97.1 cents per share 12 months earlier, while underlying earnings per share rose to 109 cents per share from 65.1 cents.

"Genel's strategy at the start of 2018 was clear - generate material free cash flow from producing assets, build and invest in a rich funnel of transformational development opportunities, and return capital to shareholders at the appropriate time," said chief executive officer Murat Özgül.

"We are delivering on this strategy."

Özgül said 2018 was another year of material free cash flow generation, as the company continued to transform its balance sheet, adding that the addition of assets with the potential of Sarta and Qara Dagh led to a "very successful delivery" on the first two parts of the strategy.

"We will continue to develop opportunities and invest in growth.

"As we do so, a robust cash flow outlook and our confidence in Genel's future prospects underpins our initiation of a material and sustainable dividend policy."

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Genel Energy Market Data

Currency UK Pounds
Share Price 83.30p
Change Today -0.50p
% Change -0.60 %
52 Week High 134.00
52 Week Low 64.90
Volume 262,584
Shares Issued 279.40m
Market Cap £232.74m

Genel Energy Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
40.74% above the market average40.74% above the market average40.74% above the market average40.74% above the market average40.74% above the market average
18.42% below the sector average18.42% below the sector average18.42% below the sector average18.42% below the sector average18.42% below the sector average
Price Trend
37.49% below the market average37.49% below the market average37.49% below the market average37.49% below the market average37.49% below the market average
14.63% above the sector average14.63% above the sector average14.63% above the sector average14.63% above the sector average14.63% above the sector average
Income
3.15% above the market average3.15% above the market average3.15% above the market average3.15% above the market average3.15% above the market average
5.88% above the sector average5.88% above the sector average5.88% above the sector average5.88% above the sector average5.88% above the sector average
Growth
21.62% below the market average21.62% below the market average21.62% below the market average21.62% below the market average21.62% below the market average
54.72% below the sector average54.72% below the sector average54.72% below the sector average54.72% below the sector average54.72% below the sector average

What The Brokers Say

Strong Buy 3
Buy 0
Neutral 0
Sell 1
Strong Sell 0
Total 4
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Genel Energy Dividends

  Latest Previous
  Final Interim
Ex-Div 20-Apr-23 15-Sep-22
Paid 19-May-23 14-Oct-22
Amount 12.00¢ 6.00¢

Trades for 28-Mar-2024

Time Volume / Share Price
16:35 13,655 @ 83.30p
16:35 1 @ 83.30p
16:35 460 @ 83.30p
16:35 483 @ 83.30p
16:35 354 @ 83.30p

Genel Energy Key Personnel

Chair David McManus
CEO Paul Weir

Top of Page