A2A's first quarter results saw "huge" growth compared to the same period in 2023, thanks to a jump in energy production from renewable sources, which, for the first time in the Lombard utility's history, surpassed that from gas-fired power plants. However, the dividend policy is unchanged and in line with the business plan.

This was said by CEO, Renato Mazzoncini, speaking to the press after the first quarter results that showed a 40 percent jump in Ebitda and improved guidance for the year.

"For the first time in a quarter, energy produced from renewables, hydroelectric, wind and photovoltaic exceeded that from fossil sources, produced by gas-fired power plants," the manager pointed out.

Asked whether this increase will also lead to coupon growth, Mazzoncini said that "if I go to compare the results with those of 2023 I see a huge growth, we have the wind in our sails and we are doing our plan, the assumed dividends are in line." Mazzoncini recalled that A2A's pay out ratio is 47 percent and "so by half it has remained in the company to increase the company's equity."

Mazzoncini then confirmed his intention to divest minority stakes in some assets to finance the 1.2 billion acquisition of the Lombardy power grid from Enel. "We are evaluating possible assets on which to divest minority shares, and gas networks can also be part of this. But we have not yet made any progress," he concluded.

(Giancarlo Navach, editing Francesca Piscioneri)