A2A ups 2024 profit guidance after solid Q1 results
May 14 (Reuters) -Italy's largest regional power utility A2A A2.MI on Tuesday revised upwards its core and net profit guidance for the year, after posting a 70% rise in its first-quarter net profit.
The group said it would target Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) of between 2.08 billion and 2.12 billion euros ($2.29 billion) for 2024, up from a previous guidance of between 2.00 billion and 2.02 billion euros, as it expects a solid performance by its Generation & Trading and Market Business units going forward.
The utility also raised its guidance for its net profit to between 650 million and 670 million euros from a range of 570-590 million euros.
Shares in the group were up as much as 2.5% on the Milan bourse after the decision.
A2A net profit came in at 294 million euros over the January-March period and core earnings were up 40% to 703 million euros year-on-year.
($1 = 0.9270 euros)
Reporting by Federica Urso, editing by Giulia Segreti
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