ENL Consortium Limited

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ENL Consortium Limited (2021-05)
  • ENL Consortium Limited
  • Year : Sep 2021
3 Tokens
USD 300.00
Summary

ENL’s operations are underpinned by the long-term concession granted by the Nigeria Port Authority to operate terminal C and D of the Lagos Apapa Port Complex, which delivers over 99% of revenue. Whilst its somewhat protected position and limited competition have supported earnings and cash flow stability, over-dependence on a single business line exposes ENL to a change in political environment or ideology that could cause early termination of the concession. Positively, the operating concession has been renewed for an additional five years to April 2026.

Additional Information

Apart from the port operations, ENL has other business divisions, including mining and quarry, and has strengthened its presence within the real estate and construction sector. The Company has been awarded a contract by one of the State Governments in Nigeria to undertake the construction and operation of an infrastructure project with a 30-year concession. The Stable Outlook reflects GCR’s view that ENL’s port operation will continue to underpin strong earnings and cash flows, which will enable the Company to undertake the construction of the infrastructure project.

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