(Alliance News) - A2A Spa announced Tuesday that its board of directors reviewed preliminary consolidated results for fiscal year 2023, which closed with Ebitda of EUR1.97 billion up 32 percent from EUR1.50 billion in 2022.

Ordinary Ebitda, i.e., net of extraordinary items recorded in the period, stood at EUR1.93 billion up 30 percent from FY2022 when it was EUR1.49 billion.

"The excellent results were achieved thanks to the contribution of all the group's business units," the company said in a note, "particularly the Generation & Trading and Market BUs.

Organic investments stood at EUR1.38 billion up 11 percent from the previous year.

Net financial position amounted to EUR4.68 billion from EUR4.26 billion as of December 31, 2022. Excluding changes in the scope of consolidation during the year under review, NFP is up by EUR420 million. This increase is mainly due to the trend in working capital attributable to the expansion of A2A Energia's customer base and the payment of one-off taxes related to the 2022 extra profit taxation, the statement said.

Power generation from renewable sources amounted to more than 4.5TWh, up 35 percent from 2022. Wind generation totaled 0.4TWh, nearly doubling from the previous year, thanks to acquisitions made in 2022 and the startup of the Matarocco plant. Hydroelectric production was up 37 percent to 3.7TWh, up 1TWh from 2022.

"The preliminary results presented today confirm the acceleration of the group's growth imprinted by the Industrial Plan to 2030," comments A2A CEO Renato Mazzoncini.

A2A's stock is up 1.3 percent at EUR1.70 per share.

By Chiara Bruschi, Alliance News reporter

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