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    Eni launches Plenitude. Descalzi, it will be a milestone

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    (ANSA) – MILAN, NOV 22 – Plenitude will be the company in which Eni’s retail and renewable activities will converge.

    “The listing of our R&R company is a milestone for the development of our company”, said the CEO of Eni, Claudio Descalzi, during the company’s Capital markets day, to PIazza Affari.

    Plenitude “will have a unique business model, combines production from renewables, sale of energy and energy services to retail customers, and a capillary network of charging points for electric vehicles”, explains Eni, which provides a gross operating margin (Ebitda) in increase from 0.6 billion in 2021 to 1.3 billion in 2025.

    “The IPO allows you to attract new capital flows, reveal incremental value and accelerate the growth of Plenitude, which aims to provide 100% decarbonised energy to all its customers by 2040, supporting Eni’s zero emissions goals net of CO2 Scope 3 “, declared the CEO of Plenitude Stefano Goberti.

    The new company that will land on the stock exchange will have net debt close to zero from 1 January 2022 and an annual investment program of approximately 1.8 billion financed with the cash generated by its business and its own debt. “In the medium term” the financial leverage will be 3-4 times the EBITDA allowing the company to maintain the investment grade, (ANSA).

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    Source From: Ansa

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