After reporting an increase in profits for the previous year, the Italian renewable energy firm ERG (ERG.MI) amended its business strategy for the years 2022-2026 on Wednesday and increased its expectations for core earnings, investments, and dividends.
ERG stated that it anticipated its profits before interests, taxes, depreciation, and amortization (EBITDA) to climb to a level more than 650 million euros ($698 million) in the year 2026.
According to the business strategy that was submitted the previous year, the goal had been set at 560 million euros.
Throughout the course of the plan, the company increased its investment objective from 2.9 billion euros to 3.5 billion euros, and it increased its dividend aim from 0.9 euros per share to 1 euro per share.
Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) for the year 2022 were 537 million euros, a 35% increase from the previous year’s 127 million euros, and adjusted net profit from continuing operations increased to 216 million euros from 127 million.
Network Hype Team