Half Year 2024 Italgas SpA Earnings Call Transcript
Key Points
- Double-digit growth in adjusted EBITDA, EBIT, and net profit in the first half of 2024.
- Significant increase in overall adjusted gas distribution revenues by 12% year over year.
- Operating cash flow improved by 66% compared to the first semester of 2023.
- Successful integration and positive contribution from the acquisition of Acqua Campania.
- Continued reduction in operating costs, achieving a 1% decrease on a like-for-like basis.
- Revenues decreased by 6.4% due to the end of the Superbonus program affecting the energy efficiency segment.
- CapEx decreased by 11% compared to last year, driven by lower spending in digitization and centralized RAB.
- Scope 1 and Scope 2 emissions increased due to revised global warming potential ratios and more detected leaks.
- Higher net financial charges due to new bonds issued, impacting overall financial costs.
- Uncertainty regarding the regulatory environment and potential antitrust issues related to the acquisition of 2i Rete Gas.
Goof afternoon. This is the cons call conference operator. Welcome and thank you for joining the Italgas first half 2024 results conference call. (Operator Instructions) AT this I would like to turn the conference over to Anna Maria Scaglia, Head of Investment Relations of Italgas. Please go ahead.
Hi, good afternoon, everyone. Thank you for joining us today, we walk you to Italgas first half 2024 results. I'm here with Mr. Paolo Gallo, our CE; and Mr. Gianfranco Amoroso, our CFO. I leave now the floor to our CEO, Mr. Paolo Gallo.
Good afternoon, everybody, and welcome to this conference. We are going through the results that we achieved in the first semester of 2024. So I will start from page number 2, where you have the summary of the results.
As you can see, we managed to deliver double digit growth in adjusted EBITDA, EBIT and net profit in the first half
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