A2A communicated the preliminary results for 2022 and the adjusted EBITDA. it was up +7% to 1.5bn euros, broadly in line with estimates and is at the high end of the 1.45-1.5bn guidance, Equita said. Considering the evolution of the scenario and the prices of powergen, there could also have been a positive surprise, analysts say.
“The net debt figure is very positive, equal to 4.26 billion, an improvement compared to September (4.91 bn). Cash generation was around 650 mn in 4Q, mainly linked to the improvement of the Net Working Capital and we partially expect there will be a reverse effect during 2023” they continue. The company did not provide further details on the composition of the results and there are no updates to its 2023 guidance. The 2022 results will be published on March 16.