Iren, profits up 13% and investments at one billion. Dividend up 8%
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Turin — Investments that come close 1 billion euros, of which 80% are engaged in sustainable projects, such as improving the efficiency of distribution networks, developing waste treatment plants and increasing the generation of renewable energy. The gross operating margin is equal to 1.2 billion, up 14% compared to Iren’s previous accounts. The multi-utility of the North-West controlled by the Municipalities of Turin, Genoa and Reggio Emilia, closes 2023 with a group net profit of 255 million. Growth is in double digits, plus 12.8%even if consolidated revenues stood at 6 billion and 490 million, a decrease of 17.5% compared to 7 billion and 863 million in 2022. A contraction in turnover caused by the drop in energy revenues, influenced by the reduction in energy prices energy and volumes during 2023 after the jump in 2022 due to Russia’s invasion of Ukraine.
The results were approved by the company’s Board of Directors, chaired by Luca Dal Fabbrowhich he proposed the distribution of a significant dividend, equal to 11.88 euros per share and with an increase of 8% compared to the previous year. A panacea for the coffers of the municipalities that are shareholders of the company. The pay-out, the ratio between dividends distributed and net profit, is 60%. «We approve important results with Ebitda growing by 14% and an increase in net profit by 13% – explains president Dal Fabbro – this once again highlights the validity of Iren’s business model and the ability to quickly adapt to changes in the macroeconomic, climate and energy scenario. Attitude which strengthens Iren’s role as a reliable partner in the energy transition and in the creation of value for the territory and for the communities, as well as for the shareholders”.
The total number of Iren employees at the end of 2023 is more than 11,000 people, with a growth of over 420 heads. There were more than 1,100 new entries last year, part of which went to cover turnover. Some indicators improved: exceeding 71% of separate waste collection in the company’s historical areas of activity, a 15% increase in renewable energy sold to customers and a reduction in water losses of around 30%. Paolo Signorini, CEO and general manager of Iren, which is carrying out negotiations to acquire Egea of Alba, underlines that «in the year just concluded the group achieved all the main targets of the industrial plan and budget for 2023 relating to investments, Ebitda, Ifn/Ebitda ratio and Net income. Iren confirms itself as one of the main players in terms of investments”.
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