Q2 2024 A2A SpA Earnings Call Transcript
Key Points
- A2A SpA (FRA:EAM) reported a significant increase in EBITDA, growing by 46% compared to the previous year, driven by strong performance in generation and market sectors.
- The company achieved a 61% renewable energy generation, with a notable increase in hydroelectric power, contributing to a 41% reduction in CO2 emissions per kilowatt hour.
- A2A SpA (FRA:EAM) successfully issued its first hybrid bond, enhancing its financial stability and supporting its sustainable finance framework.
- The company has increased its CapEx in electricity networks by 31%, highlighting its commitment to infrastructure development and future growth.
- A2A SpA (FRA:EAM) improved its guidance for the year, expecting an EBITDA of about EUR2.2 billion, reflecting confidence in its operational and financial performance.
- Thermoelectric production faced challenges, with a decrease in performance, partially offsetting gains from renewable energy sources.
- The waste management sector showed a flat performance compared to the previous year, with a slight decrease in collection revenues.
- The company anticipates a slight increase in working capital in the second half of the year due to seasonality, which may impact cash flow.
- There are concerns about the future profitability of auctions and capacity markets, with potential impacts from new storage capacities.
- A2A SpA (FRA:EAM) faces challenges in the Italian renewable energy sector, including regulatory and community opposition, which could affect future projects.
Good afternoon and welcome to H1 2024 Result. My name is Zach, I will be your operator for today's event. For the duration of the call, your lines will be in listening mode. (Operator Instructions)
I will now hand over to Marco Porro, Head of Investors Relations, to start today's call.
Good afternoon, thanks for taking part in the presentation of H1 2024 Results. As you have seen in the recent press releases, there are many topics to be debated. Without any further ado, I hand over to our CEO, Renato Mazzoncini.
Good afternoon, thanks for taking part in this conference call. As you might have seen in the latest press releases yesterday and today, we start a happy holiday. The reasons for that are here to be seen. We will first look at H1 results, the reason for being happy, with some specific highlights.
As you see, we have a positive hydro contribution. There are
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