A2A SpA

A2A posted first-half adjusted EBITDA of €1.181 billion, broadly in line with the prior year despite higher hydroelectric concession fees and a less favorable energy price environment. Adjusted group net profit fell to €374 million from €419 million a year earlier, while capital expenditure rose 5% to €718 million, driven by the Monfalcone CCGT project and continued investment in regulated assets. The net financial position stood at €5.8 billion as of June 30, with a leverage ratio of 2.6 times. Management confirmed full-year 2026 guidance for adjusted EBITDA between €2.210 billion and €2.250 billion and adjusted net profit between €0.63 billion and €0.66 billion, citing confidence in the diversified business model.