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Italgas reports 18% rise in H1 core profit

Reuters
Illustration shows Italgas logo

MILAN (Reuters) - Italy's biggest gas distributor Italgas said on Tuesday its core profit rose 18% to 607 million euros ($670 million) in the first half driven by growth at the group's energy efficiency business.

The good performance at Italgas non-regulated business more than offset an increase in net financial expenses, which almost doubled to 45 million euros.

Net debt came in at 6.3 billion euros at the end of June, up from 6 billion euros at the end of 2022.

($1 = 0.9056 euros)

(Reporting by Francesca Landini, editing by Cristina Carlevaro)