A2A (A2A) Q4 2024 TU earnings summary

Executive summary

• EBITDA reached €2.33 billion, up 18% year-over-year, with all business units contributing to growth.

• Investments totaled €2.94 billion, split between €1.51 billion in organic capex and €1.43 billion in M&A, including a major electricity grid acquisition.

• Renewable energy generation exceeded 6TWh, up 33% from 2023, with hydroelectric output rising 39%.

• Customer base in energy retail grew by over 150,000 compared to December 2023.

• Sustainable finance initiatives advanced, including inaugural hybrid green bond and green loans.

Financial highlights

• EBITDA: €2.33 billion (2024), up from €1.97 billion (2023), +18%.

• Ordinary EBITDA (excluding extraordinary items): €2.32 billion, +20% year-over-year.

• Net Financial Position: €5.84 billion, up from €4.68 billion at end-2023.

• NFP/EBITDA ratio at 2.5x, compared to 2.4x in 2023.

• Organic capex increased 10% year-over-year to €1.51 billion.

Outlook and guidance

• Board to review draft consolidated financial statements on March 20, 2025.

• Preliminary results exclude tax effects and are subject to audit.

• Continued focus on decarbonization, electrification, and sustainable finance.