Greencoat Renewables returns to profit despite below-budget generation
Greencoat Renewables ($GRP) reported a €11.9 million first-half profit after tax, compared with a €68 million loss a year earlier. Net cash generation of €59.8 million covered dividends 1.6 times, and distributions paid or declared totaled 3.41 cents per share. Electricity production reached 1,851 GWh, although weaker wind conditions left generation 6% below budget. NAV per share fell to 97.2 cents from 99 cents at the preceding year-end. Group debt was €1.203 billion, or 53.3% of gross asset va
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