(Alliance News) - Alerion Clean Power Spa reported Friday that it closed the first quarter with operating revenues of EUR49.1 million from EUR56.4 million in the first quarter of 2023.

The quarter's results, the company specified in a note, reflect the sharp decrease in electricity selling prices compared to the very high prices recorded in the first quarter of 2023. These negative effects were partially offset by hedges on electricity price trends taken out on part of the production in order to reduce the risk of price volatility.

Ebitda amounted to EUR41.6 million from EUR62.7 million in the same period of 2023, which included a gain of EUR13.9 million from the sale of the minority stake in Andromeda Wind Srl. Ebitda for the first quarter of 2023, not considering the amount of this capital gain, would have been EUR48.8 million.

Net financial debt was EUR499.9 million from EUR458.7 million as of Dec. 31, 2023.

Alerion Green Power's stock is in the green by 0.4 percent at EUR18.20 per share.

By Chiara Bruschi, Alliance News reporter

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