ERG SpA (MIL:ERG)

Q3 2024 ERG SpA Earnings Call Transcript

Nov 14, 2024 / 01:30 PM GMT

Release Date Price: €20.2 (+0.30%)

Transcript

Key Points

Positve

ERG SpA (FRA:ER9) reported a 4% year-on-year increase in EBITDA, reaching EUR 319 million, driven by larger installed capacity and new asset contributions.
The company completed significant projects, including the construction of wind farms in Sicily and France, adding substantial capacity to their portfolio.
ERG SpA (FRA:ER9) successfully extended its revolving credit facility to 2027 with better terms, strengthening its financial position.
The company received high ESG ratings, including a new ranking of 98 out of 100 in the GRESB rating and an AAA rating from MSCI.
ERG SpA (FRA:ER9) is on track to reach its target of 3.9 gigawatts of installed capacity by the end of the year, with significant contributions expected from new projects in 2025.

Negative

The company faced weaker wind conditions in the third quarter, resulting in lower production and a negative impact on margins.
Adjusted net profit decreased by 13% year-on-year to EUR 130 million, affected by higher depreciation, financial charges, and a higher tax rate.
ERG SpA (FRA:ER9) experienced a challenging market environment with lower merchant prices in several countries, impacting revenue.
The net financial position increased to EUR 1.9 billion, reflecting significant investments, buybacks, and dividend payouts.
The company is facing regulatory uncertainties in Italy, particularly regarding the FER decree and regional laws affecting renewable energy projects.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

ERG.MI - ERG SpA
Q3 2024 ERG SpA Earnings Call
Nov 14, 2024 / 01:30PM GMT

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Presentation
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Unidentified_1 [1]
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Good afternoon. This is the chorus call conference operator. Welcome and thank you for joining the G third quarter, 2024 results conference call.

As a reminder, all participants are in listen-only mode.

After the presentation, there will be an opportunity to ask questions.

Should anyone need assistance during the conference call? They may signal an operator by pressing star and zero on the telephone.

At this time. I would like to turn the conference over to Mr Paolo Merli, Chief Executive Officer of G.

Please go ahead sir.

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Unidentified_2 [2]
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