A2A: nine-month profit of 473 million (-14 per cent), investment up 9 per cent to 1.131 billion
Profit is being weighed down by depreciation and a fall in Mol adjusted
(Il Sole 24 Ore Radiocor) - A2A closed the first nine months of 2026 with an adjusted net profit of €473 million, down 14 per cent compared with the same period in 2025 (€550 million), due to higher depreciation and amortisation costs resulting from increased capital expenditure and a decline in adjusted EBITDA. The latter, according to a statement, amounted to 1,673 million (-3 per cent): growth in regulated businesses, the diversification of energy sources and the effective energy management measures implemented by the Group have mitigated the rise in hydroelectric tariffs, the effects of the summer drought on hydroelectric generation, the volatility of energy prices and the lower contribution from certain treatment plants. Adjusted revenue stood at 13,720 million (+35 per cent), mainly attributable to the increase in the volume of electricity sold on retail and wholesale markets. Investment continues to grow, totalling 1,131 million (+9 per cent), of which approximately 70 per cent relates to development projects aimed at upgrading and improving the efficiency of electricity distribution networks, the construction of photovoltaic assets, increasing the flexibility of generation plants and expanding business activities within the Circular Economy. 67 per cent of investments are eligible under the European Taxonomy, whilst 56 per cent are aligned with it. The net financial position stands at 6,063 million (5,474 million as at 31 December 2025), with
operating cash flow which, after covering maintenance investments and the payment of
Dividends help to support the Group’s organic growth. The rolling adjusted NFP/EBITDA ratio stands at 2.8 times (2.4 times as at 31 December 2025) and the cost of debt remains unchanged at 2.7 per cent whilst the proportion of sustainable debt out of total gross debt as at 30 September 2026 stood at 82 per cent.
Lab-com
