This is according to a note from the Lombard utility, which reports the preliminary results.

These results were achieved thanks to the contribution of all of the group's business units, particularly Generation & Trading and Market, in a context of a stabilized energy scenario and increased hydraulicity, the statement explains.

The net financial position stood at 4.68 billion, a difference of 0.42 billion compared to the end of December 2022: the increase is mainly due to the trend in working capital attributable to the expansion of A2A Energia's customer base (particularly in the safeguards and gradual-micro business segments) and the payment of one-off taxes related to the taxation of extra-profits in 2022.

Growth of the customer base in the energy retail segment was 420,000 users compared to December 31, 2022.

According to CEO Renato Mazzoncini, this is "an extraordinary result, the result of the balanced contribution of all business units and in particular the increase in energy production from renewable sources, effective hedging strategies and commercial development actions as well as the progressive normalization of the energy scenario."

After the results, A2A accelerated on the stock market and around 3:45 p.m. marks an increase of 1.61 percent to 1.70 euros.

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(Giancarlo Navach, editing Gianluca Semeraro)