March 25, 2020 / 12:04 PM / 12 days ago

BRIEF-Iren FY Net Profit Down At EUR 237 Mln

March 25 (Reuters) - Iren SpA:

* FY REVENUE EUR 4.28 BILLION VERSUS EUR 4.04 BILLION YEAR AGO

* FY NET PROFIT EUR 237 MILLION VERSUS EUR 242 MILLION YEAR AGO

* PROPOSES DIVIDEND FOR 0.925 EUR PER SHARE

* ON COVID-19, IN CURRENT YEAR, CORONAVIRUS EMERGENCY IN ITALY COULD HAVE, FOR THE TIME BEING, A LIMITED IMPACT ON GROUP’S ACTIVITIES

* GIVEN RECENT COLLAPSE OF OIL PRICE AND LIKELY LOWER DEMAND FOR ELECTRICITY, CO SEES REDUCTION IN VOLUMES OF ELECTRICITY PRODUCED AND A LOWER SNP

* IN 2020 GROUP EXPECTS TO BE ABLE TO TAKE ADVANTAGE OF POTENTIAL OF ITS CUSTOMER PORTFOLIO THROUGH A PARTIAL RECOVERY OF UNIT MARGINS

* IN 2020, GROUP EXPECTS TO BE ABLE TO TAKE ADVANTAGE OF POTENTIAL OF ITS CUSTOMER PORTFOLIO THROUGH PARTIAL RECOVERY OF UNIT MARGINS, AND THROUGH INCREASE IN CUSTOMERS NUMBER

* TO INVEST IN PROJECTS LINKED TO CIRCULAR ECONOMY FOR ABOUT 60% OF INVESTMENTS PROVIDED IN BUSINESS PLAN Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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