(Alliance News) - Italgas Spa said Thursday that its board of directors analyzed the group's expected operating and financial performance in 2024 and approved the guidance for the year.

In detail, the guidance forecasts adjusted revenues of around EUR1.8 billion, adjusted Ebitda of between EUR1.32-1.35 billion, and adjusted Ebit of around EUR800 million.

Technical investments are expected at EUR900 million and net financial debt is expected at EUR6.6 billion.

Italgas expects adjusted revenues to recover over the remainder of the year with a final figure in line with 2023.

Over 2024, total revenues from regulated gas distribution activities are expected to grow in double digits driven mainly by growth in RABs in Italy and Greece and increased regulated returns in Italy, the note said.

These results, added to the contribution from Acqua Campania, will offset the lower contribution from energy efficiency activities.

"Cost control will continue to be central to achieving further operational efficiencies in all business lines and the integration process of the recently acquired water companies will continue," the company points out.

Italgas expects to invest most from capex in Italy, confirming its commitment to repurposing and digital transformation of the network. In Greece, the development of the distribution network continues in line with the investment program.

Italgas shares closed Thursday in the green by 0.5 percent at EUR4.86 per share.

By Chiara Bruschi, Alliance News reporter

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