Q4 2024 Iren SpA Earnings Call Transcript
Key Points
- Iren SpA (FRA:TZ8) reported a 6.5% growth in EBITDA, driven by contributions from networks, market business, and M&A activities.
- The company achieved a 5% net profit growth, allowing for a proposed dividend increase of 8% compared to the previous year.
- Iren SpA (FRA:TZ8) successfully expanded its waste collection services to 63 municipalities and increased its customer base by 5%.
- The company reported a significant increase in renewable energy generation, particularly hydroelectric, contributing to a 6% reduction in carbon intensity.
- Iren SpA (FRA:TZ8) maintained a stable net debt-to-EBITDA ratio of 3.2, aligning with its business plan trajectory.
- Net financial debt increased by EUR150 million, reaching just under EUR4.1 billion.
- The energy business faced challenges due to lower energy prices and reduced margins in district heating and thermoelectric plants.
- There was a decrease in the contribution from energy efficiency projects due to regulatory changes affecting the super bonus incentive.
- The environment sector experienced a drop in margins for some waste treatment and disposal plants.
- Capital expenditure decreased slightly compared to 2023, mainly due to the completion of environmental development plans and lower corporate investments.
Good afternoon, everybody. Thank you very much for joining the conference call. I'm here with Executive Chairman, Luca Dal Fabbro; and CFO, Giovanni Gazza. After the presentation, as per usual, we'll have a Q&A session. And now I'll hand over immediately to Luca to present the results of the period.
Thank you very much, Giulio, and good afternoon to all of you. Thank you very much for joining to the presentation of the 2024 results that were just recently approved by the Board. The Iren Group confirms its industrial development path in 2024, so growth coming mainly from the networks and the market business combined with M&A activities, mainly related to the consolidation of Sienambiente, together with other factors that we'll see later.
The contribution to EBITDA was more than EUR35 million, which allowed EBITDA to grow together with other factors by approximately 6.5%.
In particular, I would like to summarize the main industrial
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