A2A, 9-month net profit rises 26%, revenues -35%, raises guidance Mol 2023

A2A Group closes the nine months with ordinary net income at 402 million euros, up 26 percent from the same period in 2022 on revenues of 10.952 billion, down 35 percent mainly due to lower electricity and gas prices on markets.

This is according to a note from the Milan and Brescia multiutility.

EBITDA stood at 1.354 billion, up 19 percent from the first nine months of 2022.

During the period, investments amounted to 796 milliondedicated to the development of plants for the production of green energy and the upgrading and efficiency of networks to support decarbonization and the circular use of resources, the statement explains.

For year-end, the company has revised guidance upward: it estimates 2023 Ebitda of between 1.88 billion and 1.92 billion and ordinary group net income of between 550 million and 570 million on the basis of significant results in the first nine months and better-than-expected performance of the Generation & Trading and Market Business Units.

"We are proceeding with conviction in the direction outlined by our industrial plan, aimed at fostering the decarbonization and electrification of consumption: indispensable goals to provide concrete answers to the challenges of ongoing climate change and to help make the energy market more stable and autonomous," commented CEO, Renato Mazzoncini.

(Giancarlo Navach, editing Stefano Bernabei)