Economic and financial objectives
The Business Plan foresees an increase in EBITDA of approximately 200 million with the overcoming of the billion euros of Ebitda in 2024. This positive increase is also reflected in the expected Net Profit of 300 million euros.
From a financial point of view, the net financial position of 2.6 billion euros is expected to remain constant with a NFP / Ebitda ratio of 2.4x by 2024.
| 2018 | 2022 | 2024 | Cagr '18-'24 | ||
|---|---|---|---|---|---|
| EBITDA | M€ | 866(1) | 980 | 1,070 | 3.6% |
| Networks | M€ | 342 | 406 | 451 | 4.7% |
| Waste Management | M€ | 155 | 189 | 199 | 4.3% |
| Energy (generation, DH, energy efficiency) | M€ | 265 | 247 | 261 | -0.3% |
| Market | M€ | 98 | 136 | 156 | 8.1% |
| Technological services | M€ | 6 | 2 | 3 | n.s. |
| EBIT | M€ | 430(1) | 460 | 520 | 3.2% |
| Group net profit | M€ | 206(2) | 270 | 300 | 6.5% |
| Net financial position/EBITDA | x | 2.8 | 3.0 | 2.4 | |
| Net financial position | M€ | 2,557(3) | 2,900 | 2,600 | |
| Average cost of debt | % | 2.7 | 2.0 | 2.0 | |
| Dividend per share | € cents | 8.4 | 12.3 | 14.9 |
(1) Net of positive one-offs seen in 2018, totalling € 101 million.
(2) Adjusted figure considering the positive effects registered on the EBITDA, the impact generated by OLT and the corresponding estimated effects on taxes. Reported net profit of € 242 million.
(3) Adjusted figure, considering the effects of accounting standard IFRS 16. Reported NFP of € 2,453 million.