(AOF) – The Vergnet Group announces that its Board of Directors decided during its meeting of July 3, 2023, making use of the delegation granted to it by the General Meeting of Shareholders, to carry out a capital reduction. company by reducing the nominal value of its shares. The par value of each Company share is thus reduced from 0.06 euro to 0.011 euro and the share capital to 37,170 euros.
This purely technical operation has no impact on the market value of the Company’s shares, nor on the number of shares in circulation. Thus, following this operation, the share capital of the Company remains composed of 3,379,081 ordinary shares.
AOF – LEARN MORE
Learn more about the Utilities sector
Greater disparities between utilities
The World Energy Markets Observatory highlights a wide disparity in retail energy prices in Europe. Suffering from both the effect of the rise in wholesale prices and high volatility in selling prices to end consumers, the profitability of players is under pressure. While the sixteen largest European energy suppliers benefited last year from a significant increase in their turnover (+47% compared to 2020), their gross operating margin (Ebitda margin) , deteriorated from 20.2% to 19.6%. Those who had to resort to purchasing electricity on the market had to pay these additional volumes much more expensive than the level of sale prices already set and therefore saw their margins deteriorate.
Faced with the lower availability of its nuclear fleet, EDF, renationalised, should post an annual loss of 29 billion euros in 2022. Engie is doing better because it succeeded in reducing its imports of Russian gas in the first half while benefiting from high electricity prices and its increased exposure to renewable sources.