The guidance for 2020 annunced on 11th June 2020 is confirmed on an operational level, with just a few numbers updated in our 2020-26 Strategic Plan. The expected performance also takes into account the anticipated impact on the business of the Covid-19 emergency.
The performance achieved in the first part of the year and the speed at which almost all the network construction sites resumed their activities after the lockdown demonstrated Italgas’ ability to react quickly using all the new technologies developed by the Digital Factory.
- Results: 2020 revenues are expected to be above 1.3 billion euros, with an EBITDA between 960 and 980 million euros and an Ebit between 530 and 550 million euros.
- Technical investments: we expect in 2020 to continue the significant investment plan mainly aimed at the digitization of the network, with the completion of the smart meters replacement plan, and the methanisation of Sardinia, in addition to the maintenance and development program of our networks.
- Operating efficiency: we will continue our actions in 2020 to further increase our operational efficiency and optimize costs. The company's digital transformation project, altready well undertaken, keeps contributing to the cost reduction effort.
- Financial structure: during 2020, we will continue the actions aimed at optimizing the financial structure in order to preserve a cost of debt at levels of excellence and an appropriate financial flexibility to support development. We expect Net Debt of approximately 4.6 billion euros assuming unchanged working capital, no additional M&A and excluding IFRS 16 impact. Leverage should be approximately 60%.
ultimo aggiornamento 07 April 2021 01:23 UTC