BAKU, Azerbaijan, February 28. Plenitude posted robust financial results in Q4 2024 and for the full year, benefiting from expanding renewable capacity and strong retail business performance, Trend reports.
In Q4, proforma adjusted EBIT rose 14% year-on-year to 80 million euros, while proforma adjusted EBITDA increased 18% to 205 million euros. These gains were fueled by Plenitude’s growing renewable energy portfolio, which has expanded significantly over the past year.
For the full year, proforma adjusted EBIT reached 604 million euros, up 17% from 515 million euros in 2023, reflecting the company’s success in scaling its renewable energy operations. Meanwhile, proforma adjusted EBITDA grew by 14% to over 1 billion euros, further cementing Plenitude’s position as a key player in Eni’s energy transition strategy.
Plenitude’s net debt stood at 2.3 billion euros as of December 31, 2024, slightly down from 2.4 billion euros a year earlier, indicating a stable financial position despite significant investments in renewables.