Italgas continues to run on Piazza Affari, widening the gains after the publication of the accounts. The stock is currently gaining 2,9% to 4,682 euros, achieving the best performance of the FtseMib (+0,2%).
As regards the financial statements, Italgas closed 2017 with adjusted net profit of €296,4 million, up 34% compared to the previous year. Revenues grow to 1,124 billion (+4,3%), while the adjusted ebitda records a rise of 14,1% to 781,2 million and the adjusted ebit settles at 422,9 million (+17,9% )
Technical investments amounted to 521,9 million (+38,1%) against a net cash flow from operating activities of 549,4 million euros and a net financial debt of 3,72 billion.
The board of directors decided to propose to the meeting a dividend of 0,208 euros per share, an increase of 4% compared to that distributed for the year 2016 .
“The positive results for the period allow the company to propose to the next shareholders' meeting the distribution of a dividend of 20,8 euro cents per share, up 4% compared to that distributed for the 2016 financial year – explained the president Lorenzo Bini Smaghi – and in line with our dividend policy announced to the market last year, confirming our commitment to an attractive and sustainable remuneration policy”.
Paul Gallo, CEO of Italgas, commented as follows: "The launch of the digitization process, the investments made, the corporate acquisitions made, the reorganization completed and the economic-financial results testify to the great effort made by all Italgas people in carrying out the activities ordinary and extraordinary. The main indicators such as Ebitda and Net Profit recorded double-digit growth, respectively +14% and +34%, and reflect the strong commitment to cost reduction, so much so that the operating efficiency target set for 2018. With over 520 million euro of investments, up by 38% compared to the previous year, Italgas ranks among the main companies in the country that create value for its shareholders and for the territories served".
Today we are strongly engaged in a major challenge – continued the CEO – to complete a profound process of digitization of corporate networks and processes. With the completion of the smart meter installation plan and the application of widespread sensors throughout our network, we will be able to manage the entire infrastructure according to innovative methods, criteria and algorithms that will make Italgas unique in the panorama of gas distributors at European level" .
