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1. Company Snapshot

1.a. Company Description

Elecnor, S.A. engages in the infrastructure and concessions businesses in Spain and internationally.The company operates power transport lines and transformation substations; generates power from wind farms, as well as solar, combined cycle, and hydroelectric plants; and provides gas related services covering gas pipeline transportation and distribution.It also develops telecommunications infrastructures and systems; carries out turnkey projects covering electrification, signaling, interlock, communications, and control systems for railways, subways, trams, and trolleybuses; and offers technical, commercial, and ancillary services, as well as maintenance services.


In addition, the company is involved in civil and industrial works, construction, and edification business; hydrological planning activities; operating water transportation and distribution networks; treatment and reuse of waste and sewerage; and water purification activities; and waste management, forestry, maintenance of green areas, street cleaning, and the maintenance and infrastructure conservation activities, as well as provides electromechanical systems; and turnkey solutions through its waste treatment engineering developments.Further, it acts as an installation contractor for buildings, cultural and recreational centers, airport and railway terminal buildings, hotels and hospitals, industrial plants, cogeneration and trigeneration plants, etc.; and designs, engineers, and develops solutions and integration systems in aerospace industry, and information and telecommunications technologies.Additionally, the company operates as a turnkey developer and operator of wind power farms; invests and develops solar photovoltaic and thermoelectric solar energy projects; and constructs and operates wastewater treatment plants.


Elecnor, S.A. was incorporated in 1958 and is based in Madrid, Spain.Elecnor, S.A. is a subsidiary of Cantiles XXI, S.L.

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1.b. Last Insights on ENO

Elecnor, S.A.'s recent performance was bolstered by the successful commissioning of Neoen's Blyth Battery in Australia, a project completed on schedule and within budget. This achievement underscores the company's ability to deliver complex infrastructure projects efficiently. Additionally, the project's meeting of performance requirements from the Australian Energy Market Operator and ElectraNet highlights Elecnor's commitment to quality and reliability. The company's expertise in renewable energy and infrastructure development is likely to drive future growth.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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NHOA Energy and Elecnor commission Neoen’s Blyth Battery in Australia

Apr -10

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (10.55%)

6. Segments

Elecnor

Expected Growth: 10.55%

Elecnor's 10.55% growth is driven by increasing demand for renewable energy, strategic acquisitions, and expansion into new markets. The company's focus on sustainable infrastructure development, particularly in the wind and solar sectors, has positioned it for continued growth. Additionally, Elecnor's diversified business model, which includes concessions, construction, and services, provides a stable foundation for future expansion.

Enerfin

Expected Growth: 10.82%

Enerfin's 10.82% growth is driven by increasing demand for renewable energy, strategic acquisitions, and expansion into new markets. Elecnor's strong track record in project development and execution, coupled with favorable government policies and incentives, have also contributed to this growth.

Intersegment

Expected Growth: 8.15%

Elecnor, S.A.'s 8.15% intersegment growth is driven by increasing demand for renewable energy solutions, strategic acquisitions, and expansion into new geographies. Additionally, the company's focus on innovation, cost reduction, and operational efficiency have contributed to the growth. Furthermore, favorable government policies and regulations supporting sustainable energy have created a conducive environment for the company's growth.

7. Detailed Products

Renewable Energy

Elecnor, S.A. offers a range of renewable energy solutions, including wind, solar, and hydroelectric power, to help reduce carbon footprint and promote sustainable energy.

Transmission and Distribution

Elecnor, S.A. provides transmission and distribution services, including the design, construction, and maintenance of electrical infrastructure, to ensure reliable and efficient energy transmission.

Telecommunications

Elecnor, S.A. offers telecommunications services, including fiber optic deployment, network maintenance, and data center management, to support high-speed data transmission and communication.

Railway and Transportation

Elecnor, S.A. provides railway and transportation solutions, including electrification, signaling, and telecommunications systems, to improve safety and efficiency in transportation infrastructure.

Water and Environment

Elecnor, S.A. offers water and environmental services, including water treatment, waste management, and environmental consulting, to promote sustainable development and environmental protection.

8. Elecnor, S.A.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Elecnor, S.A. operates in the renewable energy sector, which has a moderate threat of substitutes. While there are alternative sources of energy, the shift towards renewable energy is increasing, reducing the threat of substitutes.

Bargaining Power Of Customers

Elecnor, S.A. has a diversified customer base, which reduces the bargaining power of customers. Additionally, the company's focus on renewable energy solutions makes it an attractive partner for customers seeking sustainable energy solutions.

Bargaining Power Of Suppliers

Elecnor, S.A. relies on a network of suppliers for its renewable energy projects. While the company has some bargaining power due to its size and reputation, suppliers still have some negotiating power due to the specialized nature of the industry.

Threat Of New Entrants

The renewable energy sector is attractive to new entrants, and Elecnor, S.A. faces a high threat of new entrants. The company's established position and expertise in the industry help to mitigate this threat, but it still requires continuous innovation to stay ahead of new competitors.

Intensity Of Rivalry

The renewable energy sector is highly competitive, and Elecnor, S.A. operates in a crowded market. The company's strong brand and reputation help to differentiate it from competitors, but the intensity of rivalry remains high.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 29.86%
Debt Cost 8.22%
Equity Weight 70.14%
Equity Cost 8.22%
WACC 8.22%
Leverage 42.57%

11. Quality Control: Elecnor, S.A. passed 3 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Odfjell

A-Score: 6.8/10

Value: 8.5

Growth: 7.7

Quality: 6.2

Yield: 9.4

Momentum: 6.5

Volatility: 2.7

1-Year Total Return ->

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Stock-Card
Clarkson

A-Score: 6.2/10

Value: 5.2

Growth: 7.3

Quality: 8.2

Yield: 5.6

Momentum: 5.0

Volatility: 5.7

1-Year Total Return ->

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Stock-Card
Mennica Polska

A-Score: 6.1/10

Value: 4.7

Growth: 5.2

Quality: 6.2

Yield: 6.2

Momentum: 9.0

Volatility: 5.0

1-Year Total Return ->

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Stock-Card
Belships

A-Score: 5.9/10

Value: 6.8

Growth: 6.0

Quality: 6.2

Yield: 7.5

Momentum: 6.0

Volatility: 3.0

1-Year Total Return ->

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Stock-Card
Elecnor

A-Score: 5.7/10

Value: 5.8

Growth: 6.4

Quality: 3.2

Yield: 8.1

Momentum: 8.0

Volatility: 2.7

1-Year Total Return ->

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Stock-Card
Sdiptech

A-Score: 3.9/10

Value: 5.7

Growth: 8.4

Quality: 5.0

Yield: 0.0

Momentum: 1.0

Volatility: 3.3

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

29.85$

Current Price

29.85$

Potential

-0.00%

Expected Cash-Flows