Rai Way approves the industrial plan which envisages the achievement, in 2027, of core revenues of 316 million, with an average annual growth of 3.8%, unadjusted ebitda of 207 million (+3.5%) and a profit of 92 million (+ 1.4%).
Rai Way, explains a note, intends to "strengthen its role in media distribution and digital infrastructures" with "the traditional business" which "continues to offer growth opportunities" and "diversification" which "will allow further development in the medium-long term" .
At the same time, it undertakes "to pursue growth through external lines" to "strengthen and accelerate the plan objectives".
"We are committed to a Rai Way which - while maintaining its prerogatives - at the end of the Plan is larger, more diversified, with better growth prospects and more efficient. The path and priorities are clear. Always respecting operational and financial discipline, the focus and our commitment now shifts to execution", states CEO Roberto Cecatto, according to whom the plan activates "the levers suitable for bringing out the real value of the company".
The plan of the tower company controlled by Rai includes recurring maintenance investments stable at around 6.5% of revenues and development investments of around 240 million, of which around 100 on traditional businesses and assets and around 140 million in diversification initiatives.
Recurring cash generation is expected at 130 million, an increase of 15% on 2023, while on the dividend front the policy of distributing 100% of the net profit to shareholders is confirmed, for a total dividend amount over the plan period of approximately 350 million EUR.
At the end of the plan, net debt is expected to amount to 286 million, with financial leverage expected to increase on an organic basis to approximately 1.4 times in terms of net debt on adjusted EBITDA.
"The limited debt" compared to a "sustainable and reasonable" level of 3-4 times the ebitda will allow "to have access to additional resources to support the expansion of external lines".
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