European utilities listed on the stock exchange are starting to face a year with slowing results but with investments increasing by 6% to 100 billion euros to achieve the objectives of the energy transition.
Bloomberg Intelligence analysts, in a study on the sector's prospects, see a gross operating margin (Ebitda) at 5% compared to 8% in 2023 and an increase in debt between 2024 and 2025. Investments in the energy transition remain fundamental for growth prospects, with capital spending set to increase by 13% despite tighter credit conditions.
In terms of shareholder remuneration, the forecasts are varied.
For traditional utilities, according to analysts, the estimate is a median dividend growth of 9% in 2023 and 4% in 2024. For internationally diversified service companies, the sector's median payout ratio for 2024 will rise to 67% compared to 65% of last year.
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