Net reversal of the trend compared to the first quarter of 2023 marked by negative indicators.

• Excellent economic results, with a net financial position amounting to 204 million euro, sharply up on the figure of 268 million at the end of 2023.

• Total consolidated revenue and income of 538 million euro, slightly down on the figure of 637 million euro in the same period of 2023 due to the decline in prices on the energy markets, with benefits for customers.

• Consolidated gross operating margin (EBITDA) of 143 million euro; • Operating result (EBIT) of 126 million euro;

• Consolidated profit for the financial period of 73 million euro;

• Investments of 63 million euro in strong growth;

Rovereto, 28 May 2024 - The Board of Directors, chaired by Silvia Arlanch, today approved the excellent results for the first quarter of 2024.

"We are satisfied with the very positive results obtained enabling us to look forward with confidence to the Group's future growth" commented Stefano Granella, Group CEO - “We look to the future with optimism, ready to seize new opportunities and face the market challenges, with the aim of consolidating and expanding our leadership position, continuing to generate value for all our stakeholders”.

In the first three months of 2024, the gross operating margin (EBITDA) grew to 143 million euro. All business lines improved their performance, especially the commercial activities and hydroelectric production, which rose to 786 GWh compared to 266 GWh in the first quarter of 2023.

The positive results of these first 3 months and a rigorous financial policy adopted by the Group led to an improvement in the net financial position, which went from 268 million at the end of 2023 to 204 million in the first quarter of 2024, making it pos sible to optimise the Group's financial resilience and capital strength ratios.

Investments of 63 million euro are up

In particular, investments focused on strengthening the electricity, gas and water distribution networks in order to improve their performance and make them more resilient to guarantee the continuity and safety of the service, even in the face of extreme weather events, as well as to make the service more accessible, in particular as regards the gas distribution managed by Novareti, to areas not yet covered. The investment in digitalisation and information systems to strengthen and improve the Group's operational capacity and customer services is also of major importance.

M&A operations

In line with the Group's sustainable development objectives set out in the 2027 business plan, in the first quarter of 2024, the Group finalised the purchase of 67% of the EPQ shares (a company involved in flexibility and energy management services), and now holds the entire share capital: this operation integrates its commitment to the energy transition with the desire to create value for families and companies by offering the market new, innovative, green products and services