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    JEL   JE00B43SP147

JERSEY ELECTRICITY PLC

(JEL)
  Report
Delayed Quote. Delayed London Stock Exchange - 06/23 11:35:05 am
585 GBX   +0.43%
06/04JERSEY ELECTRICITY (JEL) : Modelling of 2030 net zero implications
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06/03JERSEY ELECTRICITY PLC : Ex-dividend day for interim dividend
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SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Jersey Electricity (JEL): Modelling of 2030 net zero implications

06/04/2021 | 02:01am EDT
Edison Investment Research Limited 
Jersey Electricity (JEL): Modelling of 2030 net zero implications 
04-Jun-2021 / 07:00 GMT/BST 
=---------------------------------------------------------------------------------------------------------------------- 
 
London, UK, 4 June 2021 
 
Jersey Electricity (JEL): Modelling of 2030 net zero implications 
Jersey Electricity (JEL) has consistently delivered a 5% increase in its DPS and with dividend coverage above 2.0x EPS 
is well placed financially to produce future returns to shareholders. It has a strong balance sheet and its grid 
infrastructure is well invested. Electrification of Jersey's heating and transport systems to achieve the government's 
ambition of net zero carbon emissions by 2030 provides an opportunity for growth. Based on our detailed modelling, we 
estimate that full electrification of these two areas could increase electricity demand by 477GWh pa (or 477 million 
units of electricity), representing a 77% increase on the 619m units sold by JEL in FY20. 
 
JEL trades at a discount to our asset-based sum-of-the-parts and DCF valuations. Our overall valuation analysis (based 
on SOTP and DCF) suggests a share valuation of 785p. We cross-check this with a peer valuation of 794p. The current 
share price appears modest for a company that offers the prospect of above-inflation increases in DPS, possesses 
balance sheet flexibility and is well positioned to benefit from decarbonisation initiatives. 
Click here to view the full report or here to sign up to receive research as it is published. 
 
All reports published by Edison are available to download free of charge from its website 
www.edisongroup.com 
About Edison: Edison is a leading research and investor relations consultancy, connecting listed companies to the 
widest pool of global investors. By focusing on the volume and quality of investors reached - across institutions, 
family offices, wealth managers and retail investors - Edison can create and gauge intent to purchase, even in the 
darkest pools of capital, and then make introductions via non-deal roadshows, events or virtual meetings. 
Having been the first in-market 17 years ago, Edison now has more than 100 analysts covering every economic sector. 
Headquartered in London, Edison also has offices in New York, Frankfurt, Amsterdam and Tel Aviv and a presence in 
Athens, Johannesburg and Sydney. 
Edison is authorised and regulated by the Financial Conduct Authority. 
Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not 
solicitations to buy or sell any securities. 
For more information, please contact Edison: 
James Magness +44 (0)20 3077 5756 industrials@edisongroup.com 
Learn more at www.edisongroup.com and connect with Edison on: 
LinkedIn        www.linkedin.com/company/edison-group-/ 
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=---------------------------------------------------------------------------------------------------------------------- 
Dissemination of a CORPORATE NEWS, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
=---------------------------------------------------------------------------------------------------------------------- 

1204105 04-Jun-2021

 
Image link: 
https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1204105&application_name=news 
 

(END) Dow Jones Newswires

June 04, 2021 02:00 ET (06:00 GMT)

Stocks mentioned in the article
ChangeLast1st jan.
0X (ZRX/USD) 7.13% 0.61532 Real-time Quote.63.79%
DJ INDUSTRIAL -0.21% 33874.24 Delayed Quote.10.91%
JERSEY ELECTRICITY PLC 0.43% 585 Delayed Quote.10.43%
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More news
Financials
Sales 2021 115 M 161 M 161 M
Net income 2021 11,9 M 16,6 M 16,6 M
Net cash 2021 10,3 M 14,4 M 14,4 M
P/E ratio 2021 15,2x
Yield 2021 2,97%
Capitalization 178 M 249 M 249 M
EV / Sales 2021 1,46x
EV / Sales 2022 1,37x
Nbr of Employees 305
Free-Float 46,3%
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Consensus
 
Mean consensus -
Number of Analysts 1
Last Close Price 5,83 
Average target price
Spread / Average Target -
EPS Revisions
Managers and Directors
NameTitle
Christopher John Ambler Chief Executive Officer & Executive Director
Martin Paul Magee Executive Director & Finance Director
Philip Austin Chairman
Mark Preece Operations Director
Alan Alexander Bryce Senior Independent Director
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