Confirms FY guidance (Il Sole 24 Ore Radiocor) - Milan, 09 May - The Italian utility Acea said that in the first quarter net profit rose 14% to 83 million euros while recurring net profit grew 17% to 85 million.

EBITDA was up 6% to 357 million euros and recurring EBITDA added 7% to 360 million.

'The results for the first quarter of the year show a positive and growing trend compared to the same period of 2023, mainly reflecting the investments carried out in the regulated businesses, with a solid net financial position, consistent with our forecasts. We remain strongly committed to the implementation of the business plan with expected results in line with the guidance announced to the market,' said the CEO, Fabrizio Palermo.

Acea confirmed its guidance for 2024. The company expects EBITDA to rise 3-5%, investment to reach 1.5 billion euros and the net debt/EBITDA ratio to be about 3.5 times.

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(RADIOCOR) 09-05-24 12:39:01 (0329) 5 NNNN