(Finance) – Italgasa group listed on Euronext Milan and the most important operator in Italy in the natural gas distribution sector, recorded revenues total amounting to 354 million euros in the first quarter of 2022, an increase of 6.2% compared to the same period of 2021.EBITDA was 250 million euros (+ 6.7%), while theadjusted net profit attributable to the group settled at 88.9 million euro (+ 9.5%). There net financial position at March 31, 2022, it amounted to € 4,954.7 million (€ 4,980 million at December 31, 2021).
During the period, 179.5 million euros were achieved investments (206.7 million euros in the first quarter of 2021) dedicated primarily to the digital transformation of assets and processes, the methanisation of Sardinia and the repurposing of the networks in order to enable them to distribute renewable gases (in the immediate biomethane and in the medium term hydrogen green and synthetic methane). In the first three months of 2022, 128 km of new pipelines were laid.
“The positive results of the first quarter of 2022 allow us to inaugurate the new mandate in full continuity with those that preceded it, in the name of constant growth of all the main indicators economic – commented theCEO Paolo Gallo – An even more significant result in the light of a socio-economic context conditioned by the sharp rise in prices on the energy market, the effects of which have been further exacerbated by the ongoing Russian-Ukrainian conflict “.
“More specifically, we recorded a 6.7% increase in EBITDA, which reached 250 million euros, and an adjusted Net Profit which stood at 89 million euros, + 9.5% compared to the same period last year – he continued – We continue to invest in the digital transformation of our assets and processes and in the training of our people, in order to enable the network to play the role of the main driver of the energy transition thanks to the possibility of receiving and distributing incremental quotas of renewable gases such as biomethane, green hydrogen and synthetic methane “.
“In Sardinia the extension of our native digital network continues, which has given new life to the island’s energy development – added Gallo – A virtuous model that soon, and on a larger scale, we plan to develop also in Greece working alongside the government to decarbonise the economy and consumption. “Italgas underlined that the acquisition of the Greek company DEPA Infrastructure is expected to close in the first half of 2022.
Italgas confirms that it does not have production activities or personnel located in Russia, Ukraine or in countries geo-politically aligned with Russia, nor that it has commercial and / or financial relations with such countries. However, he affirms that “it is not excluded that the situation of political-economic tension induced by the conflict may repercussionsin a form that cannot be estimated or foreseen to date, on the effectiveness and timeliness of the ability to procure of the group “. During the month of March, the group concluded (and will periodically update) a premiere survey on a significant part of its suppliers. It emerged that none of the suppliers surveyed reported any impacts with the Russian market, while only one supplier found sub-supplies of Ukrainian origin for which it has implemented initiatives aimed at seeking alternatives.