Table of Contents:
A positive start to the year for Italgas
Italgas recently published financial results for the first nine months of 2024, showing an adjusted net profit attributable to the group of 361.7 million euros, up 14.2% compared to the same period of the previous year. This increase is the result of a targeted business strategy and a favorable market environment, which has allowed the company to consolidate its position in the gas distribution sector
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Financial performance and strategic investments
Adjusted revenues for gas distribution amounted to 1,211.6 million euros, an increase of 11.5%. Total adjusted revenues also showed a positive trend, reaching 1,309.3 million euros. Adjusted EBITDA amounted to 1,009.3 million (+10.9%), while adjusted EBIT rose by 12.8% to 605.6 million. These results demonstrate the effectiveness of Italgas’ strategic plan, which aims at significant investments and the adoption of innovative technologies, such as artificial intelligence, to improve operational efficiency
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The future of Italgas and the ecological transition
CEO Paolo Gallo commented that the 2024-2030 strategic plan provides for the integration of 2 Gas Networks and the widespread use of artificial intelligence in all the Group’s activities. These developments are essential to achieve ambitious investment objectives and to contribute to the ecological transition. The company is committed to creating value for all its stakeholders, focusing on sustainable and responsible growth
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The economic environment and future challenges
Despite Italgas’ positive results, the European economic environment presents significant challenges. The October flash data on SMEs surprised the European Central Bank negatively, highlighting a slowdown in economic activity. However, the FTSE MIB showed signs of resilience, with Saipem recording a quarterly report higher than expected and improving guidance for 2024. This complex scenario requires careful management of resources and continuous innovation to face future challenges
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