Italgas total revenues up 31.7% to 932 mn in first half

Italgas closed the first half of 2023 with total revenues up by 31.7% to 931.8 million euros, according to consolidated results approved by the board of directors on Tuesday, Azernews reports, citing ANSA.

EBITDA rose by 18.3% to 607 million euros, operating earnings by 21.2% to 358.8 million euros and adjusted net profit by 14.9% to 213.2 million euros.

Technical investments rose from 374.4 million euros to 398.2 million euros.

"The first half of 2023 shows a trend in continuity with past years, under the banner of steady growth and performance of excellence at the service of development in the countries where Italgas is present and operates." said CEO Paolo Gallo.

The CEO added that it would also "be possible to achieve immediate results" in the management of water services, after taking over the activities of Veolia Italia in June.

"We have laid the foundations to play our part in the management of water services as well: by taking advantage of the technologies developed for gas and applying them to this sector, it will be possible to achieve immediate results in terms of efficiency and cost-effectiveness of the service for territories and communities," said Gallo.