The Board of Directors of ERG S.p.A. approves the consolidated results for the first nine months of 2023 and the third quarter of 2023: Third quarter 2023: - Adjusted consolidated EBITDA: EUR 102 million, EUR 118 million in the third quarter of 2022 - Adjusted net profit (loss) from continuing operations attributable to owners of the parent: EUR 35 million, in line with the third quarter of 2022 First nine months of 2023: - Adjusted consolidated EBITDA: EUR 365 million, EUR 390 million in the first nine months of 2022 - Adjusted net profit (loss) from continuing operations attributable to owners of the parent: EUR 149 million, EUR 115 million in the first nine months of 2022 Paolo Merli, CEO of ERG commented: “The operating results for the quarter are solid and in line with our budget, albeit down compared to last year. This decrease is solely attributed to a particularly tough comparison given the electricity price peaks experienced in the same quarter last year, as well as the elimination of the incentive value in Italy in 2023 due to the calculation formula. However, lower sales prices were largely offset by the significant output growth, due to the new installed capacity and better wind conditions. Net profit for the quarter is in line with last year thanks to a significant reduction in financial expense, which reflect a better return on liquidity. Given the good start to the fourth quarter, with good wind conditions and further growth in installed capacity, we revise the EBITDA range upwards, now between EUR 490 and EUR 520 million, confirming the indications on capital expenditure, between EUR 500 and 600 million, and net indebtedness, between EUR 1,400 and 1,500 million, despite the planned outlays for the buyback programme". https://lnkd.in/dufdMKZ8 #SDGsContributors #greenenERGymakers #ERGIR #investorrelations
