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Edison raises FY EBITDA guidance, H1 core profit up 20%

Reuters
·1 min read
General view of EDF's Italian subsidiary Edison thermoelectric power plant in Marghera

(Reuters) - Italian energy group Edison lifted on Thursday its forecast for full year core profit (EBITDA) to 1.65 billion euros ($1.79 billion) from 1.5 billion euros citing a favourable price scenario and current market conditions.

The Italian subsidiary of French EDF first-half core profit came in at 967 million euros, up 20.3% from a year earlier driven by the hydroelectric sector recovery.

The Milan-based utility also said that its renewable production "made an extremely positive contribution and came to cover 37.5% of requirements" in the first six months of 2024.

($1 = 0.9227 euros)

(Reporting by Romolo Tosiani; Editing by Jacqueline Wong)