26 maggio 2025
The Board of Directors of Estra S.p.A. (hereinafter also the “Group”) approved the 2024 Consolidated Financial Statements, with results significantly improving compared to the previous year thanks to the development of commercial activities following increasingly stable energy markets and the positive performance of the gas distribution business.
Within a persistently unstable macroeconomic and geopolitical context, the Estra Group proved remarkably solid and highly capable of adapting to the market scenarios.
Estra’s 2024 results showed an improvement in all business areas. However, growth was mainly driven by the Energy Market area of the gas and electricity sales business. These results offset the end of works to increase energy efficiency (so-called 110% Superbonus) that had characterised the previous year.
In the reporting year, the Group forged ahead with the project for integrating into Alia to create a Tuscan multiutility, aimed at industrial strengthening and at overcoming the fragmentation of regional public services, with a view to consolidating the many local public services businesses currently operating on the market.
Francesco Macrì, Estra Chairman, stated: “We are particularly satisfied with the 2024 results. After the previous year’s growth recovery, in 2024 we succeeded in consolidating our revenues and further increasing our margins, creating value for all of our shareholders, and therefore for the areas in which we operate. In the coming months, we will continue to be committed to completing the creation of a new multiutility, able to steer the energy transition process through the inclusion of all available energy vectors, always with the aim of focusing on the needs of the communities in which we operate.”
“The 2024 performance testifies to the Group’s growth path, also thanks to the adaptability Estra has shown in the last period," continued Nicola Ciolini, Chief Executive Officer, Estra. “The results achieved allowed us to look to the future with confidence and even greater determination so as to consolidate Estra’s role as a leading energy utility in Central Italy.”
Consolidated financial performance highlights
The Group’s total revenues amounted to €1,207.0 million in 2024, essentially in line with 2023, thus consolidating the uptrend of the previous year.
EBITDA was €165.3 million, further increasing by +16% compared to €142.9 million for 2023, which had in turn improved by +37% over 2022.
Growth was mainly driven by the Energy Market area of the gas and electricity sales business, which offset the end of works to increase energy efficiency (so-called 110% Superbonus) that had characterised the previous year.
EBIT amounted to €85.1 million, up (+22%) compared to €69.6 million for 2023.
Net profit further grew to €43.6 million, with a 55% increase compared to 2023.
Financial position highlights
At 31 December 2024, equity totalled €457.3 million, up compared to €437.7 million at 31 December 2023, mainly attributable to the result for the year and to the distribution of a €17.1 million dividend.
Net financial debt stood at €456.0 million (with a modest increase compared to €447.3 million for the previous year) as a result of cash flows from operating activities that, also thanks to a decline in net working capital, offset the cash absorbed by investment and financing activities in the year.
Estra
Established in 2010, the Estra Group is among Central Italy’s leading companies in the distribution and sale of natural gas and electricity sales sector. To date, Estra’s four shareholders (Alia, Coingas, Intesa and Viva Energia) represent most of the municipalities in the provinces of Ancona, Arezzo, Florence, Grosseto, Macerata, Pistoia, Prato and Siena. The Estra Group operates through its subsidiaries, joint ventures and related companies mainly in Tuscany, Umbria, Marche, Abruzzo, Molise, Puglia, Campania, Calabria, and Sicily and is active in the distribution and sale of natural gas and LPG, and in the sale of electricity. In addition, it operates in telecommunications, in the planning and management of energy services and in renewable energy production.