(Finance) – ERG closes 2023 adjusted gross operating margin equal to 520 million in 2023 which compares with 502 million in 2022.
THE adjusted revenues they amounted to 741 million, an increase compared to 2022 (714 million), thanks to the contribution deriving from the acquisitions made in the second half of 2022 and 2023, the entry into operation of the parks developed internally and which entered into operation starting from the second half of the year 2022 and the best wind levels found in the period in all geographies, partly offset by the sharply decreasing market prices in all countries.
The adjusted net operating result it amounted to 305 million (273 million in 2022). Depreciation amounted to 215 million, a decrease compared to 2022 (229 million) and reflects the full contribution of new assets (27 million) more than offset by the extension of the useful life of Italian and foreign wind assets (27 million) for effect of the “Lifetime Extension” programs and the end of the useful life of some components of wind and photovoltaic parks (13 million) also as a result of the start of investments in
Repowering and Revamping.
Net financial debt for adjusted “continuing activities” it was equal to 1,445 million, a slight increase (+11 million) compared to 31 December 2022 (1,434 million).
Guidance 2024
For 2024, “based on the best estimate of the price scenario in a context of high volatility and uncertainty”, ERG estimates a gross operating margin in the range between 520 and 580 million, investments are expected in the range between 550 and 600 millions. Adjusted3 net financial debt is expected between 1,750 and 1,850 million, including the distribution of the ordinary dividend of 1 euro per share.
The Board of Directors proposes to the Shareholders’ Meeting, which will be convened for 23 April 2024 in first call and, if necessary, for 24 April 2024 in second call, the distribution of a dividend equal to 1 Euro per share which will be paid starting from 22 May 2024 (payment date), subject to ex-dividend date starting from 20 May 2024 (ex date) and record date 21 May 2024.