Italy's ERG raises goals for plan to 2026

Erg SA

15/03/2023 07:53

ROME, March 15 (Reuters) - Italian renewable energy
group ERG  ERG.MI  on Wednesday set higher targets on core
earnings, investments and dividend as it updated its 2022-2026
business plan after announcing a rise in profits for last year.
    ERG said it was expecting earnings before interests, taxes,
depreciation and amortisation (EBITDA) to rise above 650 million
euros ($698 million) in 2026.
    That was up from a target of 560 million euros in the
business plan presented last year.
    The group raised its investment target over course of the
plan to 3.5 billion euros from 2.9 billion and its dividend
target to 1 euro per share from 0.9 euros.  
    For 2022, ERG posted a 35% rise in adjusted EBITDA to 537
million euros while its adjusted net profit from continuing
operations jumped to 216 million euros from 127 million. 
    ($1 = 0.9316 euros)

 (Reporting by Alvise Armellini; editing by Jason Neely)
 ((alvise.armellini@thomsonreuters.com;))