The season of accounts continues with Italgas which closed 2024 with growing profits and EBITDA and announced an increase in dividend of over 15%. “The 2024 results come at the end of another year of extraordinary growth. An uninterrupted path that has continued for thirty-two quarters consistent with the development objectives set by the 2024-2030 Strategic Plan”, commented CEO Paolo Gallo. In Piazza Affari, after the publication of the accounts, the title gains 0,94% at 5,93 euros per share.
All the numbers of Italgas
Italgas closed the past year with a adjusted net profit attributable to the group amounted to 506,6 million euros, up 15,2% compared to 2023, and higher than analysts' expectations. Stable at 1,77 billion (+0,2%) adjusted total revenue, while the 'adjusted ebitda rose by 14,1% to 1,35 billion and theadjusted ebit increased by 20,5% to 820,7 million.
Going forward with the numbers, the operating cash flow exceeded one billion euros for the first time, reaching 1.098,7 million euros, with a growth of 543,5 million compared to 2023, "ensuring full coverage of investments and M&A operations, as well as partial coverage of the distribution of dividends, equal to approximately 300 million", explains the company.
THEnet financial debt, excluding the effects of Ifrs and Ifric, as of December 31, 2024 it amounts to 6,672 billion (from 6,555 in 2023).
2024 million euros invested in 900
In 2024 the technical investments reached 887 million of euros, with significant results: over 750 km of gas distribution networks have been built.
“With around 900 million euros invested in 2024, the second half of the year was characterised by the announced acceleration in the development of networks and plants, so as to guarantee greater impetus to a sustainable, safe and competitive energy transition for Italy and Greece – he added – The digital transformation path of the water networks, made possible by the application of cutting-edge technologies developed on the gas network, also allows us to obtain progressively increasing results and to recover efficiency and value for the communities and territories served”.
Italgas: dividend increases by 15%
In light of the results achieved, the board of directors has decided to propose to the shareholders' meeting, called for May 13, the distribution of a dividend of 0,406 euros per share (+15,3%) compared to 0,352 euros in 2023. This is, explained Benedetta Navarra, president of Italgas, "an important signal for the satisfaction of our investors".
