Q3 2025 Iren SpA Earnings Call Transcript
Key Points
- Iren SpA (IRDEF) reported a 9% increase in EBITDA, exceeding EUR 1 billion, driven by the Egea operation and organic growth in regulated businesses.
- The company confirmed its full-year 2025 guidance, with expected EBITDA of EUR 1,350 million and a group net profit of EUR 300 million.
- Iren SpA (IRDEF) plans to invest EUR 6.9 billion until 2030, with a focus on regulated and semi-regulated activities, ensuring stable yields.
- The industrial plan includes a strategic shift towards a focused multi-utility approach, emphasizing core businesses and selective capital allocation.
- The company aims to maintain a strong financial profile, with a decreasing net financial debt to EBITDA ratio, ensuring financial flexibility for future growth opportunities.
- The company faced challenges with decreased hydroelectric volumes due to poor water conditions and lower margins on energy production.
- There is a reduction in investments in new renewables, totaling approximately EUR 700 million, due to bureaucratic hurdles and reduced project profitability.
- The energy business unit's growth was lower than expected due to decreased volumes of renewable electrical power and lower energy costs.
- Iren SpA (IRDEF) anticipates increased staff costs due to national contract adjustments exceeding inflation, impacting cost synergies.
- The company expects a negative impact from the energy scenario, with the PUN in 2030 projected to be lower than EUR 100 per megawatt-hour.
Good afternoon, everybody, and thank you for connecting to this conference call for the presentation of results for the first nine months of 2025 and our business plan. We will start with the results, which will be presented by the CEO, Luca Dal Fabbro; and SFO, Giovanni Gazza. And then we will present the industrial plan for 2025-2030 presented by the CEO Gianluca Bufo. At the end, there will be a Q&A session.
I will now leave the floor to Luca for the nine-month period results.
Thank you. Good afternoon to everybody. We will try and keep short, with a presentation of the quarter results in order to leave space for the industrial plan presentation, and then for the conference call for the presentation of the other companies scheduled for the afternoon.
The quarter results, which have been approved by the Board of Directors, are only increased over the last year,
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