Italgas: adjusted net profit of 316.7 million euros in the first nine months. Revenues also grew, amounting to 1.37 billion
The Board of Directors of Italgaswhich met yesterday under the chairmanship of Benedetta Navarraapproved the consolidated results for the first nine months and the third quarter of 2023. Among the key economic and financial data achieved: total revenues equal to 1,369.8 million of euros (+26.0%); Gross Operating Margin (EBITDA) of 910.5 million of euros (+15.9%); operating profit (EBIT) equal to 536.7 million euros (+18.0%).
Instead they touch on 600 million of euros (589.1 million) the investments carried out by Italgas during the first nine months of the year. As reported by the CEO Paolo Gallothe group “has intensified the digital extension and transformation activities of the gas networks, both in Italy and Greece, continuing to encourage their evolution also as a strategic element to stimulate the production of renewable gases such as biomethane, synthetic methane and hydrogen“.
Currently, they are approx 2050 the municipalities in concession for the gas distribution service managed by Italgaswhile the number of active counters reaches 7.959 million, with a gas distribution network covering 81,760 km. The results achieved in terms of sustainability are also worth highlighting: 106.4 103 tCO2 eq Scope 1 and 2 (+6.4%); net energy consumption equal to 320.0 TJ (-14.1%); fugitive emissions/km of inspected network equal to 64.7 smc/km (-10.8%).
Paolo GalloCEO of Italgascommented on the results achieved as follows: “In the first nine months of 2023, the Italgas Group achieved solid and valuable performances which allowed it to continue to grow even in an unstable socio-economic context due to the continuation of international tensions. A result made possible by several factors: our vision, which confirmed the centrality of gas distribution networks (smart, digital and flexible) for a safe, sustainable and competitive ecological transition; the goals already achieved in Greece with the merger of the three DSOs into a single operator; and, in the water sector, the completion of the acquisition of Veolia concessions“.
“All economic indicators recorded a double-digit increase with Ebitda recording an increase of 15.9%, exceeding 900 million euros, and an adjusted Group net profit of 316.7 million euros, up 10.8% compared to the same period last year. Digitalisation, decarbonisation, circular economy and training confirm themselves as strategic factors for achieving our growth objectives. Targets that will depend on our ability to push the innovation bar ever higher by continuing to leverage our main resource, people“, he concluded Rooster.
#Italgas #months #revenues #billion