The reason is precisely false social communications from listed companies, ascertained for the financial statements from 2017 to 2021. According to the prosecution, Egea had exposed operating profits, masking losses exceeding one hundred million euros and thus eliminating the net worth. Facade operations which concealed the real state of the group, a financial and economic imbalance caused by failed commercial strategies, for example by fixed-price contracts with companies or even the sale of energy below cost due to errors in calculating the selling price. The increase in raw materials in 2022 did the rest, causing the irreversible crisis of the group which led to the ongoing recovery. And to a near future with thel green light for Iren’s acquisition of the Alba multi-utility.
