Edison targets core earnings of up to 1.9 billion euros in 2030

By Francesca Landini

MILAN, Feb 18 (Reuters) - Edison EDNn.MI aims to lift its core earnings to 1.7 billion to 1.9 billion euros by 2030 as it rolls out renewables and develops green gases, the utility said on Wednesday.

In 2025 the Italian unit of French nuclear operator EDF reported earnings before interest, taxes, depreciation and amortisation (EBITDA) of 1.31 billion euros ($1.55 billion), down from 1.71 billion euros in 2024, but in line with its guidance.

Core earnings fell last year as growth in the thermoelectric production only partly offset a decline in hydroelectric power and lower proceeds coming from gas trading.

The group, however, increased its supply of natural gas in Italy, meeting 22% of domestic demand also thanks to the start of LNG deliveries from U.S. supplier Venture Global VG.N.

Net profit dropped to 240 million euros from 403 million euros in 2024.

The utility finished the year with a positive financial position of 219 million euros thanks to proceeds coming from the sale of its gas storage unit.

The group headed by Chief Executive Nicola Monti expects that its EBITDA will be between 1.2 billion and 1.4 billion euros in 2026 as energy prices remain volatile and the regulatory framework is uncertain in Italy.

"Edison will invest between 1 and 1.5 billion euros annually in the coming years to support the country's energy transition and achieve our long-term sustainability goals," Monti said.

In a previous plan to 2030 presented in 2023 the utility was targeting core earnings of up to 2.2 billion euros.

($1 = 0.8444 euros)