Italy's Acea sees EBITDA, net profit up 5% yearly in 2024-2028 business plan

March 6 (Reuters) - Italian utility operator Acea ACE.MI on Wednesday said it expects EBITDA and net profit to grow by 5% each year on average as it unveiled its 2024-2028 business plan.

Under its "Green Diligent Growth" plan, the company forecast EBITDA of 1.80 billion euros ($1.95 billion) in 2028, compared to 1.39 billion last year, mainly through "organic growth and operating efficiency".

It also said it expects net profit to total 350 million euros in 2026 and 375 million in 2028, from 294 million euros in 2023. It plans to invest 7.6 billion euros during this period.

ACEA said it is targeting a 4% annual growth rate for its dividend per share, which stood at 0.88 euros in 2023, and a total return to shareholders of more than 1 billion euros throughout the plan.

($1 = 0.9212 euros)

(Reporting by Alberto Chiumento; Editing by Varun H K)

((Alberto.chiumento@thomsonreuters.com))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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