05/05/2021 | Press release | Distributed by Public on 05/05/2021 00:21
Milan, 05 May 2021 - The Italgas' Board of Directors, which met yesterday chaired by Alberto Dell'Acqua, has approved the consolidated results as of 31 March 2021 (unaudited).
Consolidated economic and financial highlights:
Operating highlights including affiliates:
In a general context in which the effects of the health emergency persist, the performance achieved by Italgas in the first quarter of 2021 confirms the company's ability to generate solid economic-financial results, while ensuring the safety and continuity of the service and achievement of the objectives declared in its multi-year plan.
The € 206.7 million of investments made in the period (up 0.5% compared to the first quarter of 2020), devoted to digital transformation, development and modernisation of the networks, bears witness to this.
This press release is available on the following website: www.italgas.it
Investor Relations Italgas +39 02 8187 2175 [email protected]
Italgas Press Office +39 02 8187 2020 [email protected]
Around 203 km of new pipelines were laid in the first three months of 2021, 40 km of which in Sardinia, where the construction of distribution networks continued, with approximately 850 km completed overall out of a total of 1,100 km to be constructed.
The plan to replace traditional meters with latest generation smart meters is close to completion. The plan is part of the wider project for the digital transformation of the entire network managed. To date, this project has upgraded the technology of over 450 distribution networks.
The requirements related to net investments for the first quarter of 2021 were covered by the positive cash flow from operating activities, equal to € 309 million, with a Free Cash Flow of €
The net financial position as of 31 March 2021 was € 4,617.6 million (€ 4,736.5 million as of 31 December 2020). The net financial position amounted to € 4,542.6 million (€ 4,660.2 million as of 31 December 2020), net of financial liabilities pursuant to IFRS 16 of € 75.0 million (€ 76.3 million as of 31 December 2020).
The EBITDA of the first quarter of 2021 amounted to € 234.4 million (up +3.3% compared to 31 March 2020) and adjusted net profit attributable to the Group was € 81.2 million (up +7.8% compared to the same period of the previous year).