ContourGlobal upgrades guidance

6 December 2021

ContourGlobal plc

ContourGlobal upgrades guidance for the year ending 31 December 2021

ContourGlobal plc (the "Company"), an international owner and operator of contracted wholesale power generation businesses, today upgrades guidance for the year ending 31 December 2021. 

Given current trading and in particular the stronger than anticipated financial performance of our natural gas fired power plant based in Arrubal, Spain, the Company now expects FY 2021 adjusted EBITDA to be $810-8401 million, up to $30 million above the guidance range communicated on 25 October 2021 of $780-$8101 million.

The Arrubal power plant has been operating on a merchant basis since the purchase power agreement expired in July 2021 and has benefitted from a meaningful level of dispatch during the last couple of months as a result of the current market environment in Spain.

1 Assuming 2021 exchange rates of EUR/USD 1.19 and BRL/USD 0.18 

Enquiries

Investor Relations - ContourGlobal

Jose Cano

+44 203 626 9062

[email protected]

[email protected] 

Media - Brunswick

Charles Pretzlik / Will Medvei

Tel: +44 (0) 207 404 5959

[email protected] 

ABOUT CONTOURGLOBAL

ContourGlobal is listed on the premium segment of the London Stock Exchange (TKR: GLO). ContourGlobal is an international owner and operator of contracted wholesale power generation businesses with approximately 6.3 GW in operation in 20 countries. ContourGlobal operates a portfolio of 114 thermal and renewable power plants across Europe, North America, Latin America, and Africa utilizing a wide range of technologies.

Cautionary note regarding forward-looking statements

These results include statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "anticipates", "expects", "intends", "plans", "goal", "target", "aim", "may", "will", "would", "could" or "should" or, in each case, their negative or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout these results and the information incorporated by reference into these results and include statements regarding the intentions, beliefs or current expectations of the directors or the Company concerning, amongst other things, the results of operations, financial condition, liquidity, prospects, growth, strategies and dividend policy of the Company and the industry in which it operates.

By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future and may be beyond the Company's ability to control or predict. Forward-looking statements are not guarantees of future performance. The Company's actual results of operations, financial condition, liquidity, dividend policy and the development of the industry in which it operates may differ materially from the impression created by the forward-looking statements contained in these results and/or the information incorporated by reference into these results. In addition, even if the results of operations, financial condition, liquidity and dividend policy of the Company and the development of the industry in which it operates, are consistent with the forward-looking statements contained in these results and/or the information incorporated by reference into these results, those results or developments may not be indicative of results or developments in subsequent periods.

Other than in accordance with its legal or regulatory obligations, the Company does not undertake any obligation to update or revise publicly any forward-looking statement, whether as a result of new information, future events or otherwise.