Italy's A2A hikes core, net profit guidance on renewables boost

A2A Energy company technician works on junction box downtown Milan·Reuters
Reuters
1-min read

(Reuters) - Italy's biggest regional utility A2A on Tuesday raised its core and net profit forecasts for the year, after posting an 86% rise in its first-half net income, boosted by an increase in renewable energy production.

The group now sees earnings before interest, taxes, depreciation and amortization (EBITDA) of between 2.18 billion euros and 2.22 billion euros ($2.36-$2.40 billion) in 2024, up from a previously forecast range of 2.08-2.12 billion euros.

The utility also expects its net profit to be between 700 million euros and 720 million euros, up from a previous range of 650-670 million euros.

($1 = 0.9234 euros)

(Reporting by Enrico Sciacovelli, editing by Gianluca Semeraro)