Italgas closed the first 9 months of 2018 with a Net income equal to 226,4 million euros, up by 6,1% compared to the same period of the previous year. On also i revenues, up 5,5% to 880,7 million.
Ebitda and Ebit both recorded an increase of 8,9% settling respectively at 639 and 333,9 million euro.
As communicated by the company in a note, in the reference period, the technical investments amounted to 349,1 million euro, while the net cash flow from operating activities amounted to 590 million euro. L'net financial debto is 3.734,2 million euros.
From an operational point of view, in the first nine months of the current year Italgas managed over 67 thousand kilometers of network, serving 7,5 million redelivery points (Pdr) in 1.709 concessions. Its market share therefore exceeds 34%.
Continuing with i operational data, as at 30 September, 1,386 million smart meters had been installed – an operation for which a significant part of the investments was allocated – bringing the total to 53,2% of the entire number of meters.
The company also specifies that "growth is in line with the objectives of the 2018-2024 plan" and that the investment programs and M&A activities, which will be implemented again in 2018, with the aim of further consolidating Italgas on the market and on the territory.
The results for the first nine months "allow us to confirm the targets set for 2018 by the Business Plan thanks to the constant attention to operating efficiency and the commitment to making the planned investments, investments which have already produced an appreciable development of the networks and number of customers managed", said the CEO of Italgas, Paul Gallo, commenting on the accounts for the nine months.
“The implementation of the network and process digitization project is proceeding as planned, the transition to the cloud will be completed in the next few days and our Digital Factory will be operational as early as November. In these nine months we have launched important organisational, technological and cultural transformations which will produce significant improvements in terms of infrastructure management, efficiency and above all service quality”, concluded the CEO.
A business square, the Italgas share rose by 0,78%, clearly beating the performance of the Ftse Mib, down by 0,47%.
