Italgas closed 2018 with revenues equal to 1,176 billion, an increase of 4,6% compared to the same period last year. Also up sharply Ebitda (+8,2%) ed EBIT (8,5%), which reached 839,5 and 453,5 million euros respectively. L'Net income it settled at 313,7 million euro, up 7,1%.
Establish the technical investments, equal to 522,7 million, while the net cash flow from operating activities amounted to 718,7 million (+30,8%).
On the M&A front, in 2018 seven transactions were concluded for 110 thousand PdR (collection points), for a value of 215 million, against a net financial debt of 3,81 billion (+2,5%). In all i active counters they amount to 7,56 million for a gas distribution network of around 70 thousand kilometres.
As regards the foreseeable evolution of management, the company led by Paolo Gallo indicates in 2019 "the completion of further development initiatives for external lines, which will make it possible to strengthen the territorial presence by anticipating the effects of future area tenders in terms of growth of the perimeter of activity”.
“The brilliant results obtained also in 2018 are the result of the determination with which the objectives of the business plan were pursued and improved and underline a growth path, which began in November 2016 with the company's return to the Stock Exchange, which has created value for shareholders and the communities served”. This is the comment of the managing director of Italgas Paolo Gallo. “The main indicators such as Ebit and net profit – he added – recorded important increases again for this year, respectively equal to +8,5% and +7,1%, and reflect the effective operational management which led to a reduction costs by 3% compared to the previous year and by 19% compared to 2016, for a total of approximately 80 million euros, despite an expansion of the corporate perimeter. With the acquisitions made during the year, the group has grown further, strengthening its presence in areas of the country that have great development potential and from which we expect significant results in the coming years”.
By virtue of the results achieved, the Italgas board of directors has decided to propose to the shareholders' meeting the distribution of one dividend equal to 0,234 euro per share, up by 12,5 percent compared to 2017.
Italgas also announced the convening of theshareholders' meeting for next April 4th.
