Attractive European Utilities
Rising power prices are leading to increasing profits at Central European utilities. Power prices in Central Europe have risen by more than 170% since 1999 while share-price performance of the main utilities has been poor with a drop of 35% over the same period.
The article in the PDF document below appeared in the November issue of the Nebenwerte Journal. In the article Stephan Truffer, CFA - Portfolio Manager of the EIC Energy Utility Fund - outlines the general principles of utility company valuation and takes a closer look at the valuation of Central European utilities.