” The results obtained in the first quarter allow us to also inaugurate 2023 under the banner of growth both in terms of performance and the development of activities in the countries in which we operate.
All economic indicators recorded a double-digit increase”. As Paolo Gallo Chief Executive Officer of Italgas commenting on the consolidated results as at 31 March 2023 of the Turin Group. the results were approved by Board meeting eight the presidency of Blessed Navarre. During the quarter, operating activities continued to achieve the digital transformation objectives of the network and of the sustainability targets. Objectives that are found in the Sustainable Value Creation Plan contained in the 2022-2028 Strategic Plan. The distribution networks of Italgas – smart, digital and flexible – on the other hand are ready to transport renewable gases, such as biomethane, hydrogen and synthetic methane. Sources that drive the ecological transition while ensuring energy security and competitive costs for industries and citizens. From the outset, the Group shared the European strategy on new clean sources. And it doesn't just stop at the energy business. It's in negotiation with the French Veolia to acquire water networks in southern regions.
Italgas is not just Italy
"EBITDA - added Gallo - reported an increase of 18,9%, reaching almost 300 million euros, and a Group net profit that exceeded 100 million euros, achieving an increase of 16,5 % compared to the first quarter of last year. This is also thanks to the contribution of business in Greece and of the ESCo.” Significant investments for the digitization of assets, processes and people. In the period they were made 175,1 million euros of investments dedicated primarily to the extension, digital transformation and repurposing of networks. 213 were the kilometers of new ones
pipelines laid from January to March of this year. EBITDA amounts to 297,2 million euros (+18,9% compared to 31 March 2022) and the net profit attributable to the Group is 103,6 million euros (+16,5% compared to 31 March 2022 ). Sustainability remains central to the strategy of Italy's leading distributed gas operator. The significant contribution of the various innovation, digitization and energy efficiency initiatives have made it possible to continue the path towards the reduction of net energy consumption (-17,3%) and climate-changing emissions. There was also intense training activity for employees on energy efficiency issues, another historical feature of Italgas. The operational highlights (including the investee companies) are condensed into 2.045 Municipalities under concession for the gas distribution service. 7,961 million active meters and 81.401 km of gas pipes. Gallo recognized human capital as having a fundamental role in growth. “Thanks to the commitment of the women and men of the Italgas Group, we work to provide communities with an increasingly efficient service with cutting-edge technologies. The same ones that we have placed at the basis of our path towards a decarbonised economy”.
