(Alliance News) - The board of directors of Acea Spa has approved its interim report for the three months ended March 31, reporting a recurring group net profit of EUR85 million, up 17 percent from the same period last year.

Consolidated revenues stood at EUR1.0 billion compared to EUR1.24 billion in the same period last year and were mainly affected by falling prices in energy markets.

Recurring Ebitda reaches EUR360 million, up 7.2 percent from the first quarter of 2023.

Consolidated Ebit increases by 12 percent to EUR168.3 million compared to last year in the same period, despite increased depreciation and amortization.

Net financial position increases by EUR66.4 million from EUR4.84 billion as of Dec. 31, 2023 to EUR4.91 billion as of March 31, 2024.

Acea on Thursday trades in the green by 1.1 percent at EUR16.76.

By Maurizio Carta, Alliance News reporter

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