ROME (Reuters) – Italian renewable energy group ERG on Wednesday set higher targets on core earnings, investments and dividend as it updated its 2022-2026 business plan after announcing xx profits for last year.

ERG said it was expecting earnings before interests, taxes, depreciation and amortisation (EBITDA) to rise above 650 million euros ($698 million) in 2026.

That was up from a target of 560 million euros in the business plan presented last year.

The group raised its investment target over course of the plan to 3.5 billion euros from 2.9 billion and its dividend target to 1 euro per share from 0.9 euros.

For 2022, ERG posted a 35% rise in adjusted EBITDA to 537 million euros while its adjusted net profit from continuing operations jumped to 216 million euros from 127 million.

($1 = 0.9316 euros)

(Reporting by Alvise Armellini; editing by Jason Neely)