For the 2025 financial year, Rai Way expects a performance in line with the trends outlined in the 2024-27 Industrial Plan, with further growth of the Adjusted EBITDA in the traditional business, substantially offset by the lower level of non-core benefits compared to 2024, the expected increase in energy tariffs and the planned rise in diversification-related costs.
Maintenance capex is expected to increase compared to 2024 above the average level planned over the Industrial Plan period due to certain non-recurring activities, while development investments are expected to be substantially stable, primarily allocated to diversification initiatives and to the development of the DAB network for RAI.