That ha closed the first nine months of 2024 with excellent financial results, marking significant growth in terms of margini e profitability.consolidated EBITDA increased by 15,3%, while theNet income grew by 36,1%, reaching 285 million euros. The revenues consolidated themselves reduced to 3,1 billion euros due to the energy prices fall, but strategic areas such as Acqua Italia and Reti continued to record growth, contributing positively to the results. investments increased by 22%, confirming the commitment to the expansion and development of core activities.
Thanks to these results, Acea has revised the raises its forecast for 2024, with an estimated growth in EBITDA of between +7% and +9% compared to 2023. The ratio between net debt and EBITDA also improves, now expected at around 3,4x. Investments of 1,5 billion confirmed (1,1 billion net of contributions). No shocks on the title (+ 0,12%).
Acea's first 9 months accounts
In the first nine months of 2024, theconsolidated EBITDA reaches 1,16 billion euros, up 15,3%, while recurring EBITDA rises 12,2% to 1,13 billion. This result was mainly driven by the positive contribution of regulated businesses, offsetting the impact of the unfavorable energy scenario. Theconsolidated ebit saw a growth of 25,4%, reaching 555,3 million euros, despite the increase in depreciation (+5,9%), equal to 519,5 million, due to ongoing investments, in particular in the areas of Acqua Italia, Networks and Public Lighting.
THEconsolidated net profit recorded a strong growth of 36,1%, reaching 285 million euros, while therecurring net income increased by 31% to €274,4 million, thanks to growth in regulated businesses and efficient financial management. consolidated revenues amounted to 3,1 million euros, down from 3,3 million in the same period of the previous year, due to the decline in energy prices. However, strategic areas such as Water Italy, Networks and Lighting Public, and Ambiente, which represent 62% of total revenues, recorded a growth of 7%.
Trend by business area
Water Italy: EBITDA grew by 17,1%, reaching 618 million euros, thanks to investments and the MTI4 tariff update.
Networks and Public Lighting: EBITDA increased by 17,1% to 326,8 million, thanks to investments in network resilience and digitalization.
Ambiente: EBITDA decreased to 55,5 million euros, influenced by lower revenues from the sale of energy produced by WTE.
Production: EBITDA fell to 31,2 million, due to lower hydroelectric production and the decline in energy prices.
Commercial: EBITDA increased to 123,8 million euros, thanks to higher margins in the free energy market.
Investments
- investments gross made in the first nine months are equal to 951,9 million euros, up 21,5% compared to the previous year. More than 90% of investments were allocated to regulated businesses, including Acqua Italia and Reti, as well as Public Lighting and Environment. net financial position of the Group is increased of EUR 385,7 million, reaching EUR 5.232,5 million as of September 30, 2024, mainly due to investments and dividend payments. However, the Pfn/ebitda ratio improved to 3,39x.
Comment by CEO Fabrizio Palermo
“The nine-month financial results confirm the Group's solid growth, which allows us to revise upwards the 2024 EBITDA guidance – commented the CEO Fabrizio Palermo – Growth has also had a positive effect on financial leverage, which is expected to improve compared to 2023. In the period, we also recorded an increase in operational efficiency in all business areas and further development in the water sector, our reference sector, thanks to the entry into Sicily and the consolidation of our presence in Peru; we have also continued to implement the investment plan to which the Group will continue to be committed”.
