© Reuters. FILE PHOTO: A2A Energy company technician works on junction box downtown Milan, Italy, May 28, 2016. REUTERS/Stefano Rellandini/File photo
(Reuters) -Italy’s largest regional power utility A2A sees in 2035 a core profit (EBITDA) above 3.2 billion euros ($3.50 billion), according to a 2024-2035 industrial plan issued on Tuesday.
Under the plan the group expects to boost investments to 22 billion euros, with 44% allocated to businesses with low volatility.
“The extraordinary operation of 1.2 billion euros for the expansion of the power grid also fits, allowing us to reach a RAB of 3.4 billion euros by 2035, consolidating our position as Italy’s second-largest operator,” CEO Renato Mazzoncini said in a statement.
A2A also posted on Tuesday the full-year results with a net profit of 659 million euros, up 64% from a year earlier, while its revenue stood at 14.76 billion euros, down 36% due to the downward trend of commodity prices.
The Milan-based utility proposed to distribute 0.0958 euros per share, up 6% from last year.
($1 = 0.9145 euros)
