Strong growth in profits and record investments for A2a in 2024, but the stock slips by 0,9% weighed down by the difficult day on the stock markets (Ftse Mib -1,4%).
A2a: profit rises by 31%
A2a closed 2024 with a net profit of 864 million, up 31,1% compared to 635 million in 2023. Ordinary net profit rose 29% to 816 million, while revenues fell 13% to 12,857 billion mainly due to the contraction in energy commodity prices with an average annual Pun of 108,4 euros/MWh (down 14,9%) and the average cost of gas at the PSV of 36,3 euros/MWh (down 14,3%), the company explains in a note.
Total investments rose to 2,941 billion, of which 1,512 billion allocated to organic investments (+10% compared to the previous year) and 1,429 billion euros allocated to M&A operations, mainly attributable to the acquisition from e-distribuzione of 90% of the share capital of Duereti. The gross operating margin stood at 2,328 billion (+18%), while the net financial position is 5,835 billion (4.683 billion at 31 December 2023) and the Pfn/ebitda ratio is 2,5 times.
As for 2025, A2a estimates an EBITDA of between 2,17 and 2,20 billion euros and a group net profit, net of non-recurring items, of between 0,68 and 0,70 billion euros.
Dividend of 0,10 euros per share
The board of directors will propose to the ordinary shareholders' meeting a dividend of 0,10 euros per share, corresponding to a total dividend of approximately 313,3 million euros, up 4,4% compared to the dividend distributed last year, equal to 0,0958 euros per share.
CEO Mazzoncini: “Almost 3 billion invested, a historic record”
“The results approved today consolidate A2a's role in the industrial and infrastructure sector of our country. In 2024 we invested almost 3 billion euros, a historical record for our group. In the last year, generation from renewable sources represented approximately 50% of our total production, up compared to 2023: we were therefore able to offer the market a greater quantity of green energy, an important factor for the decarbonization process and the stabilization of prices for the benefit of families and businesses”. This was stated by Renato Mazzoncini, CEO of A2a, commenting on the 2024 data. “The activities we have carried out have allowed us to achieve an EBITDA of over 2,3 billion and a net profit of over 800 million. This allows us to propose to the next meeting a dividend of 0,10 euros per share, up 4,4%”.
“The group has created new employment opportunities with over 1.600 new employees who, with their professionalism, have contributed to achieving these excellent performances", continued Mazzoncini. "The desire to share and involve all colleagues, an active part of this growth path, is also reflected in the Share ownership plan which we will propose at the next shareholders meeting,” he added.
