(Alliance News) - Italgas Spa reported Tuesday that it ended 2023 with revenues up to EUR1.77 billion from EUR1.54 billion in the previous year.

In detail, transmission revenues rose to EUR1.36 billion from EUR1.23 billion and Other regulated revenues from gas distribution increased to EUR130.7 million from EUR87.7 million. Other revenues increased to EUR323.6 million from EUR242.4 million.

Ebitda improved to EUR1.21 billion from EUR1.10 billion while the adjusted figure increased to EUR1.18 billion from EUR1.08 billion.

Operating income rose to EUR681.2 million from EUR641.4 million and to EUR681.2 million from EUR622.8 million on an adjusted basis.

Pre-tax income improved to EUR586.1 million from EUR588.5 million and to EUR586.1 million from EUR567.2 million on an adjusted basis while net income rose to EUR467.5 million from EUR436.1 million and to EUR467.5 million on an adjusted basis from EUR416.3 million.

Net financial debt as of Dec. 31, 2023, excluding the effects from IFRS 16 borrowings of EUR79.1 million from EUR72.0 million as of Dec. 31, 2022, amounted to EUR6.56 billion, up EUR627.1 million from the figure as of Dec. 31, 2022 of EUR5.93 billion.

The company's board proposed a dividend of EUR0.352 per share, up from EUR0.317 last year.

Italgas shares are up 0.3 percent at EUR5.37 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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