Q3 2021 ERG SpA Earnings Call Transcript
Good afternoon. This is the Chorus Call conference operator. Welcome, and thank you for joining the ERG Third Quarter 2021 Results Conference Call. (Operator Instructions) At this time, I would like to turn the conference over to Mr. Paolo Merli, CEO of ERG. Please go ahead, sir.
Good afternoon, everybody, and welcome to our webcast. Here with me is Michele Pedemonte, our CFO, will take you through the results in more detail after my opening remarks. So the key message I'd like to convey today is the following. It's still a very strong quarter, up significantly year-on-year at operating level and even more so at bottom line, which reflects the -- I think, the amazing job done on both capital structure and noncash cost, resulting in lower financial and depreciation charges prospectively.
The first, as a consequence of the liability management programs on the debt side, and the latter as a consequence of the extended useful life of the asset base following our lifetime extension programs. So you'll see
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