MILAN – Acea closes the first quarter of 2024 with a post-minority group net profit of 83 million, up 14% compared to the same quarter of the previous year. “The recurring net profit of the group – indicates the company – is equal to 85 million euros, an increase of 16.6%. The focus on cost and investment management, together with organic growth, have more than compensated for the greater depreciation linked to investments made”. “We remain strongly committed to the implementation of the industrial plan with expected results in line with the guidance communicated to the market”, said Acea CEO Fabrizio Palermo.
Consolidated revenues fell to 1.026 billion compared to 1.239 billion in the first quarter of 2023: “They are mainly affected by the decline in prices on the energy markets. Revenues relating to the Italian Water, Networks, Public Lighting and Environment areas, equal to approximately 0.6 billion, recorded an increase of 1% in the period”. Investments made in the first three months of 2024 amounted to 247.5 million, down compared to the 258.2 million in the first quarter of 2023 “due to different planning”.
Ebitda grew by 6% to 357 million. “The recurring Ebitda – highlights the company – (adjusted by the effect, in the first quarter of the year, of the shutdown for revamping of the Terni WTE plant) 360 million, up by 7.2% due to the organic development of the regulated businesses and the performance of the commercial area, which more than offset the negative impact of the energy scenario”.
Consolidated Ebit increased by 12.3% to 168.3 million “despite the increase in depreciation” (+5.2% to 167.2 million). Acea underlines the “economic and financial solidity confirmed by the growth in results in the first quarter of 2024 compared to the first quarter of 2023”, and the “organic development of the regulated businesses, in line with the group’s industrial plan”. The 2024 guidance is confirmed.
