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Genel Energy
(OTC:GENL)
Genel Energy (GENL) vs. iShares MSCI United Kingdom ETF (EWC)
Genel Energy Business Overview & Revenue Model
Genel Energy Financial Statement Overview
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 74.70M | 84.80M | 432.70M | 334.90M | 159.70M | Gross Profit |
| 5.00M | 19.60M | 232.50M | 116.30M | -26.30M | EBIT |
| -52.40M | -19.20M | 211.90M | 97.60M | -62.00M | EBITDA |
| 8.30M | 43.20M | 300.00M | -106.20M | -212.10M | Net Income Common Stockholders |
| -76.90M | -61.30M | -7.30M | -308.00M | -416.90M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 195.00M | 363.40M | 494.60M | 313.70M | 354.50M | Total Assets |
| 598.90M | 795.10M | 943.50M | 1.02B | 1.55B | Total Debt |
| 65.10M | 244.20M | 269.50M | 278.10M | 358.10M | Net Debt |
| -129.90M | -118.60M | -225.10M | -35.60M | 3.60M | Total Liabilities |
| 241.60M | 361.20M | 415.70M | 435.30M | 620.80M | Stockholders Equity |
| 357.30M | 433.90M | 527.80M | 581.10M | 929.80M |
| Cash Flow | Free Cash Flow | |||
| 42.10M | -43.40M | 264.20M | 115.50M | 19.70M | Operating Cash Flow |
| 66.90M | 55.10M | 412.40M | 228.10M | 129.40M | Investing Cash Flow |
| -24.80M | -98.50M | -148.20M | -112.60M | -106.70M | Financing Cash Flow |
| -209.90M | -87.80M | -83.30M | -156.30M | -58.90M |
Genel Energy Technical Analysis
Genel Energy Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
58 Neutral | £154.19M | ― | -15.72% | ― | -14.44% | -22.34% | |
58 Neutral | $7.35B | 3.36 | -4.49% | 5.60% | 0.82% | -49.15% | |
56 Neutral | £157.18M | 17.20 | -3.25% | ― | -28.38% | 90.60% | |
| £60.03M | ― | 3.48% | ― | ― | |||
61 Neutral | £245.49M | 5.73 | ― | -11.70% | ― | ||
| £113.63M | ― | -121.27% | ― | ― | ― | ||
58 Neutral | £140.87M | ― | -80.82% | ― | -5.92% | -91.89% |
Genel Energy Corporate Events
Genel Energy PLC announced the results of its Annual General Meeting held on 8 May 2025, where all resolutions were passed by shareholders. Despite the approval, a significant number of votes were cast against several resolutions, prompting the Board to engage with shareholders to understand their concerns.
Genel Energy reported a robust operational performance in Q1 2025, with significant production from the Tawke and Peshkabir fields in Kurdistan, generating substantial cash flow. The company is expanding its operations into Oman with the acquisition of Block 54, and is diversifying its asset base while managing financial liabilities by issuing a new $100 million bond. Genel has exited the Sarta and Qara Dagh licenses, reducing its liabilities, and is focusing on strategic objectives despite macroeconomic uncertainties.
Genel Energy announced that its subsidiary, Genel Energy Miran Bina Bawi Limited, has been ordered by the Tribunal to pay $26.87 million in recoverable costs to the Kurdistan Regional Government following an arbitration claim. This amount is less than the $36 million originally claimed by the KRG, indicating a partial financial relief for Genel.
Genel Energy announced the granting of nil-cost options under its 2021 Performance Share Plan to key managerial personnel, including CEO Paul Weir, CFO Luke Clements, and Technical Director Mike Adams. These awards are part of a three-year performance period aimed at aligning management incentives with company performance. Additionally, Paul Weir deferred a portion of his 2024 cash bonus into company shares under the Deferred Bonus Plan, further demonstrating a commitment to the company’s long-term success. These transactions highlight the company’s strategy to retain and motivate its leadership team, potentially impacting its operational efficiency and market positioning.
Genel Energy has exercised a bond call option, aligning with its recent placement of a new $100 million senior unsecured bond maturing in April 2030. The company will call the outstanding bond amount of $66 million with a maturity date in October 2025, at a price equal to 100% of the nominal amount, with settlement set for 14 April 2025.
Genel Energy has released its report on payments made to governments for the year 2024, in compliance with UK regulations for the extractive sector. The company disclosed a total payment of $265,000 to the Government of Somaliland, covering licence fees, training, capacity building, and social development obligations under its petroleum sharing agreements. This report underscores Genel’s commitment to transparency and regulatory compliance, potentially enhancing its reputation and stakeholder trust in the regions where it operates.
Genel Energy has announced the posting of its Annual Report for the year ended 31 December 2024, along with the notice for its 2025 Annual General Meeting (AGM). The AGM is scheduled for 8 May 2025. The documents have been made available to shareholders and submitted to the National Storage Mechanism, and can also be accessed on the company’s website. This announcement signifies the company’s adherence to regulatory requirements and transparency in its operations, which may impact stakeholder confidence positively.
Genel Energy has successfully completed a private placement of USD 100 million in new five-year senior unsecured bonds with an 11% annual coupon rate. The bond issue, which attracted strong international investor demand, will be listed on the Nordic ABM and Frankfurt Open Market. The proceeds will be used to refinance existing bonds and for general corporate purposes, enhancing the company’s financial flexibility.
Genel Energy reported a shift from cash outflow in 2023 to cash generation in 2024, driven by increased production and strategic cost management. The company has reduced its debt significantly and is focusing on maintaining a strong balance sheet while expanding its asset base in Oman and other regions. Despite challenges in the Kurdistan Region of Iraq, including unresolved payments from the Kurdistan Regional Government, Genel is committed to ensuring contract compliance and exploring new growth opportunities. The company’s strategic diversification into Oman marks a significant step in its growth journey, aiming to enhance cash generation and business resilience.
Genel Energy has announced plans to hold fixed income investor meetings with the help of Pareto Securities AS as Manager and Bookrunner. The company aims to issue a new senior unsecured bond with a five-year tenor, subject to market conditions, to refinance existing bonds maturing in October 2025 and for general corporate purposes.
Genel Energy has entered into an Exploration and Production Sharing Agreement in Oman, acquiring a 40% interest in Block 54, partnering with OQ Exploration & Production SAOG. This strategic move is part of Genel’s plan to diversify geographically and establish a significant presence in Oman, leveraging the country’s stable regulatory environment and promising oil and gas sector to expand its resource base and cash generation capabilities.