Italgas closed the third quarter of 2021 with revenues up 2,8%, to 1.005 billion euros and a Net income up +10,5% to 273,6 million euro. Operating profit also increased (EBIT) to 430 million euros (+6%), while theEbitda amounted to 749 million euros (+4,9% compared to 30 September 2020).
The company led by Paolo Gallo announces that in the first nine months of the year, the investments technicians rise to 612,6 million (+10,3%). Finally, the net financial position as at 30 September 2021 amounted to 5.055,4 million euros (4.736,5 million euros as at 31 December 2020).
“The nineteenth consecutive quarter of growth for Italgas since its return to the stock market is the best demonstration of a company that has continued along its path of development and transformation, started in 2017, even during the most serious health emergency that the world has experienced in recent times - commented Paolo Gallo, Group CEO -. Even in a macroeconomic and financial context characterized by persistent volatility, we have exceeded 610 million euros in investments, to maintain the 2022 objective: to make Italgas the first utility in the world with a fully digitized network".
In Piazza Affari, the Italgas share, after opening up by 0,85%, dropped by 0,35%, to 5,680 euro.
A growth certainly favored by the turbulence on the energy markets in recent months. Driving the high prices: the increase in raw material prices as a result of the global economic recovery, the reduced gas supplies (especially from Russia), but above all the growth in the prices of CO2 emission permits, known as Trading Scheme (ETS).
Although energy and gas prices have skyrocketed around the world, companies such as the Spanish group Iberdrola, the world leader in wind energy, did not benefit because they locked in prices for customers in advance. The Spanish company has communicated a 10% decline in net income to $2,41 billion in the third quarter. Turnover stood at 28 billion (down compared to 2020) and Ebitda at 8,16 billion (+10,7%).
Financial debt stood at €37,2 billion, down by €664 million compared to September 2020 thanks to the offsetting of the hybrid bond issue. Finally, investments reached a record of over 7 billion (of which 409 million in inorganic investments), mainly relating to the business of Renewable (44%), with over 7 thousand MW already under construction, and the Networks (45%).
