(ANSA) – MILAN, Nov. 22 – Plenitude will be the company where Eni’s retail and renewable activities will meet.
“The inclusion of our R&R company is a milestone for the development of our company,” Eni CEO Claudio Descalzi told PIazza Affari during the company’s Capital Markets Day.
Plenitude explains “a unique business model, combining production from renewable energy sources, selling energy and energy services to retail customers, and a capillary network of charging points for electric vehicles”, which provides gross operating margin (Ebitda) in increase from 0.6 billion in 2021 to 1.3 billion in 2025.
“The IPO allows you to attract new capital inflows, unlock increased value, and accelerate the growth of Plenitude, which aims to provide 100% carbon-neutral energy to all of its customers by 2040, and support Eni’s net zero CO2 Scope 3 emissions goals,” the president announced Plenitude CEO Stefano Goberti.
The new company that will go down on the stock exchange will have a net debt of close to zero as of January 1, 2022 and an annual investment program of approximately 1.8 billion funded by the cash generated from its business and its own debt. “In the medium term” the leverage will be 3-4 times EBITDA allowing the company to maintain investment grade (ANSA).
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