Albioma: Further development in Brazil, as planned by management

BUY, Fair Value EUR16 (+12%)

News published on May Monday 30, 2016
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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.

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