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Johnny
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Johnny
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个人分析:
1.管理层已经在止血edenor,2026年下半年的财报预测都不会多好,不过2027年就会恢复正常,甚至会好过之前的财报,因为没有了edenor这个老鼠粪的阻碍
2.其实撇除edenor的亏损,塑料厂的盈利在逐年增加,这归功于之前管理层积极收购stenta,这个盈利的成长会慢慢填补发电厂税率的弱点
3.公司是现金牛,也在慢慢减少债务,gearing ratio 从去年的29%减少到21%,不排除会有特别派息的可能
4.现在的派息率是3.5%,公司赚36仙,拿10仙来派息,管理层也说派息率会逐年增加,派息率还有很大的上升空间,更别说撇除edenor过后公司的eps会上升,每年派息只会增加,不会减少
其实撇除edenor的问题,公司整体上上1是没问题的,现在就等年尾edenor的问题解决了,公司上回轨道move on
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