Albioma: Further development in Brazil, as planned by management

Albioma announced this morning it has signed a JV agreement with Vale do Parana to develop a new cogeneration operation in the State of Sao Paulo. With this project, in which Albioma will own 40%, the group is further increasing its presence in this high growth potential market, while the timing is good in our view given the BRL depreciation compared with 2014-15. We confirm our Buy rating with FV unchanged at EUR16/share. Positive.

For more information, please contact marketing@bryangarnier.com