A2A stock tracks 2026 guidance after EUR 1.181 billion EBITDA

Published on 09/29/2026 at 10:20 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

A2A stock posted EUR 374 million of adjusted net profit in H1 2026, down from EUR 419 million a year earlier. Guidance targets EUR 2,210-2,250 million EBITDA.

Fotorealistische Energieanlage mit Wasserkraft und Fernwärme, symbolisch für A2A S.p.A — Fotorealistisches Bild einer Energieanlage symbolisiert A2A S.p.A., Aktie mit ISIN IT0001233417, Versorgungssektor Italien, Illustration mit AI erstellt.

A2A (IT0001233417) stock was trading at EUR 2.25 on Borsa Italiana on September 29, 2026, down 0.40 percent from the prior close of EUR 2.26. In its first-half 2026 earnings call on July 30, A2A confirmed adjusted EBITDA guidance of EUR 2,210 million to EUR 2,250 million for 2026, according to Yahoo Finance.

First-half EBITDA holds steady

A2A reported first-half 2026 EBITDA of EUR 1.181 billion, a figure described as broadly in line with the first half of 2025. The comparison shows resilience in the group portfolio, but the result also reflects pressure from hydroelectric concession fees and weaker hydro production, according to Yahoo Finance.

Adjusted group net profit came to EUR 374 million in the first half of 2026, compared with EUR 419 million in the same period of 2025. That is a decline of EUR 45 million, while operating cash flow reached EUR 749 million and capital expenditure totaled EUR 718 million in the period, according to Yahoo Finance.

Hydro fees shape the outlook

The generation and trading unit produced EBITDA of EUR 394 million in the first half, down EUR 26 million from the first half of 2025. Hydro concession fees had a EUR 37 million impact during the period, including EUR 25 million linked to prior years, according to Yahoo Finance.

Management said the full-year effect of the concession fees is expected to exceed EUR 50 million, while the company expects stronger generation and trading performance to offset the burden. The confirmed guidance therefore rests on diversification across regulated networks, energy management, renewables and circular economy activities.

Stock remains below yearly high

A2A stock was trading at EUR 2.25 on Borsa Italiana on September 29, 2026 at 10:00 a.m. CEST. The price was EUR 0.49, or 17.88 percent, below the 52-week high of EUR 2.74 and above the 52-week low of EUR 2.13.