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UTILITIES: Iren (IREIM NR/BBB/BBB): 3Q24 Results

UTILITIES
Credit BulletsCEEMEAEurozoneItalyBulletGlobalRegion

Not a spread mover.

  • Iren reports EBITDA of €288mn, in-line with consensus (2 estimates). 9M LfL growth of +8% due to a larger asset base and better marketing margins absorbing lower electricity prices.
  • Expecting to meet the high end of FY EBITDA guidance with net leverage of 3.3x.
  • EGEA will be consolidated one year earlier than planned, from 2025.
  • Webcast 14.00 GMT https://channel.royalcast.com/irenitalia/#!/irenitalia/20241112_1
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Not a spread mover.

  • Iren reports EBITDA of €288mn, in-line with consensus (2 estimates). 9M LfL growth of +8% due to a larger asset base and better marketing margins absorbing lower electricity prices.
  • Expecting to meet the high end of FY EBITDA guidance with net leverage of 3.3x.
  • EGEA will be consolidated one year earlier than planned, from 2025.
  • Webcast 14.00 GMT https://channel.royalcast.com/irenitalia/#!/irenitalia/20241112_1