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Italy windfall tax to imapct Iren's 2022 net profit by 20 million euros - CEO

By Reuters

ROME – A new windfall tax, approved by the Italian government, will impact Iren’s net profit this year by around 20 million euros ($21.19 million), the Chief Executive of the energy group told Reuters on Thursday.

CEO Massimiliano Bianco added it would be “compensated for”.

Earlier this week, the Italian government said it would raise its windfall tax on energy companies to 25% from 10% to help fund a package to shield firms and families from surging energy costs as the war in Ukraine escalates.

($1 = 0.9439 euros)