Operating figures, equity and financial results
Operating data
| U.M. | 2024 | 2023 | Change | Change % | |
|---|---|---|---|---|---|
| Energy produced | GWh | 466.8 | 581.6 | (114.9) | (19.7%) |
| of which hydro | GWh | 300.6 | 418.9 | (118.4) | (28.3%) |
| of which thermal | GWh | 166.2 | 162.7 | 3.5 | 2.1% |
| Photovoltaic energy produced | GWh | 173.2 | 138.5 | 34.7 | 25.1% |
| Energy produced (cogeneration) | GWh | 53.4 | 34.1 | 19.2 | 56.3% |
Economic and financial results
| € million | 2024 | 2023 | Change | Change % |
|---|---|---|---|---|
| Revenues | 100.9 | 130.8 | (29.9) | (22.9%) |
| Costs | 60.4 | 77.0 | (16.6) | (21.5%) |
| EBITDA | 40.5 | 53.9 | (13.3) | (24.8%) |
| Operating profit/(loss) | 15.4 | 33.7 | (18.3) | (54.4%) |
| Average workforce | 98 | 97 | 1 | 0.6% |
| Capex | 25.8 | 41.1 | (15.3) | (37.1%) |
Economic and financial results
| € million | 2024 | 2023 | Change | Change % |
|---|---|---|---|---|
| EBITDA Production segment | 40.5 | 53.9 | (13.3) | (24.8%) |
| EBITDA – Group | 1,556.8 | 1,390.9 | 166.0 | 11.9% |
| Percentage | 2.6% | 3.9% | (1.3 p,p,) |
EBITDA as at 31 December 2024 amounted to €40.5 million, down €13.3 million compared to 31 December 2023, mainly attributable to Acea Produzione as a result of lower margins on energy produced by hydroelectric plants affected by both the price effect for €6.7 million (-€23/MWh) and lower quantities for €10.6 million (- 118 GWh) due directly to lower rainfall. The EBITDA of the photovoltaic segment improved, mainly due to higher volumes.
The average workforce was in line with the previous year; note that the photovoltaic companies do not have employees. Investments amounted to €25.8 million and decreased by €15.3 million compared to the previous year, mainly due to lower investments made by Acea Solar to construct photovoltaic systems both on agricultural and industrial land (-€15.0 million). Investments made by Acea Produzione amounted to €9.5 million, an increase on the previous year (+€1.3 million) due to the combined effect of the power injection projects and upgrading work on the Montemartini and Tor di Valle power plants.