STEP 1-A2A will invest 2.1 billion, sees mol 1.35 billion in 2019, size … – Reuters Italy

       

* Coupons 2015 and 2016 in line with 3.6 cents of 2014

       

* debt will drop to 2.5 billion at the end of the plan

       

* No mention of M & A in the utility sector

       

* Title jumped more than 2.5% on the stock market (Adds details, share price)

       

MILAN, April 10 (Reuters) – A2A plans to invest 2.1 billion euro in the period 2015-2019, with a growth of 40% over the previous five years to strengthen the leadership especially in the field of environment and green economy and distribution of gas, and aims to reduce by 40% the capacity thermoelectric following the drop in consumption of electricity.

       

In the bag stock is soaring this morning with a jump of more than 2.4% to € 1,072 due mainly to the 10% of the dividend in 2014 announced iera evening at € 0.0363 per share, of slightly above analysts’ expectations, compared with a net loss of 37 million, reflecting the write down of assets thermoelectric 207 million and the elimination of the Robin Hood Tax for 65 million.

       

According ICBPI, “the plan showed a significantly higher growth in both the gas distribution both in the environment and energy in the retail business. Good attention to the dividend that will be paid, but it will be important to monitor the capacity reduction debt for investments in strong growth. “

       

With regard to the dividend policy, the SuperUtility Lombard confirms coupons 2015 and 2016 to about 3.6 euro cents in line with 2014 and sees the doubling of the dividend at the end of floor around 7.5 cents.

       

The Ebitda, the statement said, is seen around 1 billion this year, in line with that of 2014 and grow by 32% in 2019 to 1.35 billion. More …