2025-06-05-Jefferies-提醒_与Cenergy_Holdings首席财务官的炉边谈话_6页_80kb

Cenergy Holdings Fireside Chat Summary

Event Overview

• Event: Fireside Chat with Cenergy Holdings CFO
• Date: Tuesday, 24 June 2025
• Time: 14:00 BST / 15:00 CET / 9:00 ET
• Participants:
  • Cenergy Speakers: Dr. Alexandros Benos (CFO), Stavros Stamatiou (Deputy CFO), Sofia Zairi (Chief IR Officer)
  • Host: Lucas Ferhani, European Industrials Analyst from Jefferies

Key Discussion Topics

• Cable Business Performance: The discussion will cover the current state of Cenergy's cable business.
• Market Trends: Focus on business trends in key markets for low voltage cables.
• Order Momentum & Backlog: Analysis of order momentum and backlog in the high voltage segment.
• Competitive Dynamics: Insights into the competitive landscape the company operates in.
• Expansion Plans: Update on the company's expansion strategies, especially in the US power grid market.

Speaker Biographies

• Dr. Alexandros Benos has been CFO of Cenergy Holdings since May 2018. He has a strong background in banking, having worked at National Bank of Greece Group since 2000 and held leadership roles in risk management and control.
• Lucas Ferhani is an Equity Analyst at Jefferies, focusing on European Industrials. Other analysts involved include Rizk Madii, Martha Ford, and Simon Toennesen.

Investment Ratings and Methodology

• Rating Categories:

  • Buy: Expected total return of 15% or more over 12 months.
  • Hold: Expected total return between +15% and -10% over 12 months.
  • Underperform: Expected total return of -10% or less over 12 months.
  • NR: Rating temporarily suspended.
  • CS: Coverage suspended.
  • NC: Not covered.
  • Restricted: Communications restricted due to company policy or regulations.
  • Monitor: No financial projections or investment opinions provided.

• Valuation Methodologies: Ratings and price targets are based on a range of financial metrics, including market cap, growth/value, volatility, and expected total return. Techniques used include DCF, EBITDA, EPS, P/E, P/CF, P/FCF, EV/EBITDA, and others.

Jefferies Franchise Picks

• Definition: Stock selections from Jefferies analysts based on fundamental analysis and other factors like analyst conviction and investment themes.
• Criteria: Only Buy-rated stocks are included. Picks may change based on performance, rating changes, or other conditions.
• Stop Loss: Stocks with 120-day volatility in the bottom quartile of S&P stocks have a 15% stop loss; others have a 20% stop loss.

Risk Disclaimer

• The report is for general circulation and not tailored to individual investors.
• Past performance is not indicative of future results.
• Exchange rate fluctuations may impact returns for non-US investors.
• The report may not be suitable for all investors and should not be the sole basis for investment decisions.
• Jefferies may have conflicts of interest due to its business relationships with companies covered in the report.

Legal and Regulatory Disclosures

• Jefferies Entities:

  • United States: Jefferies LLC (SEC registered broker-dealer), Jefferies Research Services LLC (SEC registered investment adviser).
  • Canada: Jefferies Securities Inc. (investment dealer registered in all Canadian jurisdictions).
  • United Kingdom: Jefferies International Limited (authorized and regulated by the Financial Conduct Authority).
  • Germany: Jefferies GmbH (authorized by BaFin).
  • Hong Kong: Jefferies Hong Kong Limited (licensed by the SFC).
  • Singapore: Jefferies Singapore Limited (licensed by MAS).
  • Japan: Jefferies (Japan) Limited (registered with the FSA).
  • India: Jefferies India Private Limited (licensed by SEBI).
  • Australia: Jefferies (Australia) Pty Limited (AFSL 504712).
  • Dubai: Jefferies International Limited, Dubai branch (licensed by DFSA).

• Disclaimer: The report is not an offer to buy or sell securities. It is not tailored to any recipient and is not based on their specific investment needs. Jefferies does not provide investment advice or accept responsibility for investment decisions made based on this report.

• Conflicts of Interest: Jefferies may have business relationships with companies covered in the report, which could affect objectivity.

• Third Party Content: Information from third parties, including credit ratings, is used but not guaranteed for accuracy or completeness. No warranties are provided for third-party content.

• Unauthorized Use: The report may not be copied, reprinted, sold, or redistributed without prior written consent.

• Legal Information: For legal requirements in different jurisdictions, investors are advised to consult local authorities or legal counsel.

Distribution and Jurisdictional Notes

• The report is distributed in compliance with local regulations and is intended for specific types of investors in each jurisdiction.
• In some regions, the report is only available to professional or institutional investors.
• Jefferies assumes no liability for the financial success of any investment or for any damages resulting from the use of this report.

Conclusion

This fireside chat provides an opportunity to gain insights into Cenergy Holdings' cable business, market trends, order momentum, competitive dynamics, and expansion plans. The event is hosted by Jefferies analysts and includes a range of investment ratings and valuation methodologies. Investors are advised to consider the report as one of many factors and to consult with financial advisors before making any investment decisions.