Italgas: consolidated results as at 30 june 2022 approved
Data di pubblicazione:
Milan, 25 July 2022 - Italgas’ Board of Directors, chaired by Benedetta Navarra, met today and approved the consolidated results for the first half of 2022.
Key figures
Consolidated economic and financial highlights:
Paolo Gallo, CEO of Italgas, commented: The results of the first half of 2022 provide additional confirmation of the soundness of a Group capable of continuing to grow without interruption, despite a scenario featuring increasingly complex economic-social and geopolitical conditions. We have reached the first turning point of the year recording growth in all economic indicators: the EBITDA grows by 4.9%, surpassing € 513 million and the adjusted Net Profit at +6.9% came to approximately € 188 million. Investments, exceeding € 370 million, have been used to digitally transform the network, which is increasingly smart, widespread and flexible, serving the energy transition and the decarbonisation of consumption. In Sardinia, we are continuing with our commitment to complete distribution of natural gas in the areas under concession. The smart network, which covers approximately 1,500 kilometres, is now the most cutting edge network in the country, both because it is already capable of accommodating renewable gases such as biomethane and hydrogen, and because procurement is guaranteed solely through liquefied natural gas. Technological innovation is confirmed as the main driver that allowed us to anticipate this change, transform our operations and improve service in terms of quality and efficiency while, at the same time, achieving ever-increasing sustainability targets, significantly contributing to the achievement of the REPowerEU targets.
- Total revenues: € 707.4 million (+6.3%)
- Gross operating margin (EBITDA): € 513.3 million (+4.9%)
- Operating profit (EBIT): € 296.0 million (+5.9%)
- Adjusted net profit attributable to the Group: € 188.3 million (+6.9%)
- Technical investments: € 374.4 million
- Cash flow from operating activities: € 459.5 million
- Net financial debt (excluding the effects pursuant to IFRS 16): € 5,033.4 million
- Net financial debt: € 5,094.4 million
- Net energy consumption: 301.5 TJ (-14.0%)
- 54.7 103 tCO2eq Scope 1 and 2 (-21.3%)
- 47,667 km of network inspected (+35.4%)
- Fugitive emissions/km investigated: 49.02 Sm3/km (-43.7%)
- Municipalities in gas distribution concessions: 1,899
- Number of active meters: 7.75 million
- Gas distribution network: around 74,788 Km
Paolo Gallo, CEO of Italgas, commented: The results of the first half of 2022 provide additional confirmation of the soundness of a Group capable of continuing to grow without interruption, despite a scenario featuring increasingly complex economic-social and geopolitical conditions. We have reached the first turning point of the year recording growth in all economic indicators: the EBITDA grows by 4.9%, surpassing € 513 million and the adjusted Net Profit at +6.9% came to approximately € 188 million. Investments, exceeding € 370 million, have been used to digitally transform the network, which is increasingly smart, widespread and flexible, serving the energy transition and the decarbonisation of consumption. In Sardinia, we are continuing with our commitment to complete distribution of natural gas in the areas under concession. The smart network, which covers approximately 1,500 kilometres, is now the most cutting edge network in the country, both because it is already capable of accommodating renewable gases such as biomethane and hydrogen, and because procurement is guaranteed solely through liquefied natural gas. Technological innovation is confirmed as the main driver that allowed us to anticipate this change, transform our operations and improve service in terms of quality and efficiency while, at the same time, achieving ever-increasing sustainability targets, significantly contributing to the achievement of the REPowerEU targets.