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WEEK AHEAD – Drax's magnum Opus
Investors have long since put any disappointment from July 2016’s first half numbers behind them. Those results showed a hefty slump in EBITDA (earnings before interest, tax, depreciation and amortisation), albeit not an unexpected one. But all attention ahead of full year results on 16 February is firmly on Drax’s acquisition of Opus Energy. This move will give the biomass specialist a valuable energy supply business. Drax has also separately acquired gas turbine assets, boosting output capacity. Investors will also be looking out for further commentary on the government’s commitment to state subsidies, without which Drax’s output would presumably collapse due to the high cost of some renewables. (SF)