(Alliance News) - Alerion Clean Power Spa reported Tuesday that it closed 2023 with a profit of EUR68 million down from EUR73.2 million in 2022. Group net income was EUR66.8 million from EUR71 million in the previous year.

Revenues amounted to EUR201.7 million from EUR273.7 million in 2022. Specifically, operating revenues are EUR163.9 million down from EUR263.3 million mainly due to the sharp decline in electricity prices.

Ebitda increases to EUR152.2 million, down 35 percent from EUR232.8 million in the previous year and "reflects the increase in electricity generation volumes by about 261 GWh compared to 2022 and the positive effects from the sale of the minority stake in Andromeda Wind Srl, as well as the decrease in electricity selling prices.

Operating income is EUR75.8 million, down to EUR189.8 million in 2022, after depreciation, amortization and write-downs of EUR76.4 million, again due to lower electricity selling prices.

Net financial debt is EUR458.7 million from EUR385.5 million as of December 31, 2022.

During 2024, the company specified in a note, "the investment program for the construction of new plants, both wind and photovoltaic, will continue, particularly in Romania and Italy. The development of new renewable capacity will also continue, to increase the pipeline of projects in the group's various geographic areas of interest, as well as in Italy and Romania, Spain and the UK.

Alerion's stock trades in the red by 0.5 percent at EUR22.10 per share.

By Chiara Bruschi, Alliance News reporter

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