Italgas S.p.A. (0RK1.IL)
- Reuters
Italgas ups dividend after rise in 2023 core earnings
Europe's biggest gas distributor Italgas said on Tuesday it would increase its dividend on 2023 results by 11% after its adjusted core earnings for last year met its forecast. Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) came in 1.184 billion euros ($1.29 billion) last year, up more than 9% on 2022 mainly driven by growth of non-regulated businesses. Net financial debt came in at 6.9 billion euros at the end of December, up from 6.5 billion euros at the end of 2022.
- Reuters
Italgas may revise up investments for new water assets
Italy's biggest gas distributor Italgas may revise up its estimate for future investment in its newly-acquired water business, its CEO said on Wednesday during a post-results conference call. The group finalised earlier this year the purchase of three Italian water businesses from France's Veolia as part of its diversification strategy, in a deal worth up to 115 million euros excluding debt. Speaking with analysts, Italgas CEO Paolo Gallo said the group had already included 300 million euros ($317 million) of gross capital expenditures for the water business in the recent business plan covering 2024-29 period, but a more precise figure would be calculated soon.
- Reuters
Italgas reports 18% rise in H1 core profit
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.
