(Alliance News) - ERG Spa reported Wednesday that reported group net income was EUR179 million compared to EUR379 million in 2022. The adjusted one from continuing operations was EUR226 million compared to EUR129 million in 2022.

The board proposed a dividend of EUR1.00 per share, confirming the previous year's amount.

In 2023, adjusted revenues were EUR741 million, up from 2022 when they were EUR714 million, "due to the contribution from acquisitions made in the second half of 2022 and 2023, the commissioning of the internally developed parks that came on stream from the second half of 2022, and the improved windiness seen in the period in all geographies, partly offset by sharply declining market prices all countries," the story circulated said.

Adjusted net operating income was EUR305 million from EUR273 million in 2022. Depreciation and amortization was EUR215 million, down from EUR229 million in 2022.

Adjusted net debt for "continuing operations" was EUR1.44 billion, up slightly from December 31, 2022, when it was EUR1.43 billion.

For 2024, EBITDA is estimated in the range of EUR520 million to EUR580 million, capital expenditures are expected in the range of EUR550 million to EUR600 million. Adjusted net financial debt is expected to be between EUR1.75 billion and EUR1.85 billion, including the distribution of the ordinary dividend of EUR1.00 per share.

ERG closed Tuesday's session 1.8 percent in the red at EUR25.14 per share.

By Maurizio Carta, Alliance News reporter

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