That, the Roman multiutility, closed the first quarter of 2023 with growing investments and revenues. THE Revenues amounted to 1.239,9 million euros, up 4% compared to the first quarter of 2022. TheEBITDA consolidated increase by 5,6% to EUR 335,9 million (EUR 318,2 million in the first quarter of 2022), thanks to the positive performance of the Water, Energy Infrastructure and Commercial and Trading areas, partially offset by the reduction in EBITDA of the Generation area, which was affected by the sharp reduction in prices on the energy markets and the deconsolidation of photovoltaic assets. L'EBIT consolidated amounted to 149,8 million euros (compared to 153,8 million euros in the first quarter of 2022) and was affected by the increase in amortization (+13%), bad debt write-downs and provisions for risks. L'Net income, as expected, is equal to 72,6 million Euros, compared to 99,4 million last year. The result for the first quarter of 2022, however, benefited from the recognition of a capital gain of 20,7 million euros realized following the sale of a majority stake in ACEA's photovoltaic assets. L'net financial debt of the Group decreased by 101,1 million euros, going from 4.439,7 million euros as at 31 December 2022 to 4.338,6 million euros.
Investments are growing
- investments realized in the first three months of 2023 amount to 246,8 million Euros, up on the 222,3 million Euros of the previous year (+11%) and are broken down as follows: Water 150,1 million Euros, Infrastructure Energy 64,5 million Euros, Environment 7,6 million Euros, Generation 4,4 million Euros, Commercial and Trading 12,5 million Euros, other businesses and Parent Company 7,7 million Euros. Approximately 90% of investments were made in regulated activities.
2023 guidance confirmed
“The results for the first quarter of the year show a positive trend thanks also to the significant actions implemented starting from the last months of 2022, which have contributed to improving the Group's operational and industrial performance, as well as consolidating its financial structure. We therefore confirm the guidance on the 2023 results already communicated to the market" he commented Fabrizio Palermo, Chief Executive Officer of That.
