Iren, net profit of 242 million in the nine months, + 57.6%

Iren closed the first nine months of the year with a group net profit attributable to shareholders of € 241.5 million, an increase of 57.6% on an annual basis. The operating result amounted to 336.4 million, up by 16%, and the gross operating margin to 732.6 million, up by 12.3%. Consolidated revenues amounted to 3,103.8 million, with an increase of 18.1% compared to the first nine months of 2020. Net financial debt amounted to 2,858.9 million euros, down by 91 million euros compared to at the end of 2020.

Gross technical investments made in the period amounted to € 466 million, up 12.5% ​​compared to € 414 million in 2020 and in line with the forecast and in compliance with the expected annual targets. To these must be added 58 million euros of cash out for the acquisitions, which mainly include the effects of the acquisition of 20% of Futura (25 million euros) and Sidiren (30 million euros).

The revenues of the Networks sector of the multiutility amounted to 690.4 million euros, down by 7.3% compared to the first nine months of 2020. The decrease, explained by the group, is due to the provision of the Ministry of Ecological Transaction which with the decree of 21 May last, it reduced the quantitative obligation linked to energy efficiency certificates. In the Environment sector, revenues were 668.5 million euros, up by 25.5%. The increase is due for 104 million euros to the expansion of the consolidation perimeter. Energy revenues (+22 million) and revenues from collection services (+19 million) also increased, while revenues from disposal and the intermediation and management of special waste (-12 million) recorded a decline.

Revenues from the Energy sector amounted to € 1,214.1 million, up by 54.3%. An increase mainly due to the increase in electricity sales prices (+419 million) following the improvement of the energy scenario, partially offset by the effect of the lower quantities sold (-67 million).

Revenues in the Market sector amounted to € 1,747.3 million, up by 18.7%, driven by the trend in the energy scenario with sharply rising prices for both gas and electricity, while quantities are down with the the only exception is the Retail and Small business segment of the sale of electricity.