(Alliance News) - Ascopiave Spa on Monday announced that it has approved its strategic plan to 2027, confirming last year's strategic directions and outlining a sustainable growth path in its core businesses of gas distribution and renewable energy, the company explained in a note.

In detail, the plan calls for Ebitda to 2027 of EUR139 million and net income of EUR42 million.

Net investments in the period are expected to stand at EUR617 million.

Net debt as of 2027 is expected to be EUR435 million and leverage at 0.48.

As for the dividend payout forecast, the company expects EUR0.14 for fiscal year 2023 and up by EUR0.01 per share in subsequent years until 2027.

Chairman and attached director Nicola Cecconato commented, "The plan approved by the board of directors confirms the main strategic objectives already indicated in 2023, updating the forecasts for improved economic performance in light of the positive results achieved in 2023 and the changes in macroeconomic, regulatory and market parameters recorded in recent months."

"The group has updated its substantial organic investment program in the core gas distribution sector, where it is among the leading national operators. The plan also confirms Ascopiave's commitment to seeking new investment opportunities in synergistic activities, with a stable return profile and low risk, in order to guarantee shareholders a secure and remunerative dividend distribution."

"Prospects for diversification and growth are identified mainly in the renewable energy sector, although Ascopiave continues to look carefully at opportunities that may arise in other infrastructure and regulated businesses, enhancing its territorial presence, particularly in the Northeast."

Ascopiave trades up 0.4 percent at EUR2.41 per share.

By Claudia Cavaliere, Alliance News reporter

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