A2A S.p.A. (AEMMY) Q4 2025 Earnings Call Transcript

SA Transcripts159.01K FollowersFollow5ShareSaveCommentsPlay Earnings CallPlay Earnings Call A2A S.p.A. (AEMMY) Q4 2025 Earnings Call March 17, 2026 10:00 AM EDT Company Participants Marco Porro - Head of Investor RelationsRenato Mazzoncini - CEO, MD & Executive DirectorLuca Moroni - Chief Financial Officer Conference Call Participants Roberto Letizia - Equita SIM S.p.A., Research DivisionJavier Suarez Hernandez - Mediobanca - Banca di credito finanziario S.p.A., Research DivisionFrancesco Sala - Banca Akros S.p.A., Research DivisionEmanuele Oggioni - Kepler Cheuvreux, Research DivisionSarah Lester - Morgan Stanley, Research DivisionAlberto de Antonio Gardeta - BNP Paribas, Research DivisionDavide Candela - Intesa Sanpaolo Equity Research Presentation Operator Hello, and welcome to the A2A Full Year 2025 Results Presentation. Please note, this conference is being recorded. [Operator Instructions] I will now turn you over to your host, Marco Porro, Head of Investor Relations, to begin today's conference. Please go ahead. Marco PorroHead of Investor Relations Good afternoon, everyone, and thank you for joining us for full year 2025 performance presentation. Today, as speakers, we have Renato Mazzoncini, our CEO; and Luca Moroni, our CFO. So I'll leave immediately the floor to Renato for the first part of the presentation, and then he will pass to Luca. Thank you. Renato MazzonciniCEO, MD & Executive Director Okay. Thank you, Marco, and good afternoon, everyone. Thank you for joining us. We report another year of strong performance and value creation. The key message that we wish to share today is that we are on track, on trend and on target for shareholder returns. So let's start from the slides that you can see, Slide #2. Highlights. Full year '25 results once again demonstrate our strong execution across all our strategic priorities, reinforcing A2A's positioning for sustainable growth and shareholder remuneration. From an industrial standpoint in '25, we delivered on a series of key new milestone fully aligned with our long-term infrastructure investment plan. Our electricity