Oct 30 (Reuters) - Italian energy company Edison EDNn.MI raised the bottom end of its core profit forecast for 2025 on Thursday, after it reported a 22% rise in nine-month sales.
Edison said it now targets earnings before interest, taxes, depreciation and amortization (EBITDA) in a range of 1.3 billion to 1.4 billion euros ($1.5 billion to $1.6 billion), after previously guiding for 1.2 billion to 1.4 billion euros.
The Italian group posted a 23% year-on-year decline in its nine-month EBITDA to 1.08 billion euros due to fewer long-term gas contracts and normalisation of hydroelectric power generation.
Its sales, however, rose to 13.3 billion euros from 10.9 billion in the year-ago period, boosted by an increase in energy volumes and higher average electricity and gas prices.
Edison confirmed that its main shareholder, France's EDF, had initiated a strategic review process aimed at evaluating potential options regarding the level of its stake in the company, while maintaining control.
Earlier this month, EDF picked Intesa Sanpaolo IMI and Lazard as financial advisers to study its options for Edison.
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(Reporting by Romolo Tosiani in Gdansk; Editing by Anna Pruchnicka and Milla Nissi-Prussak)
((Romolo.Tosiani@tr.com))