Iren SpA (MIL:IRE)

€ 1.829 -0.034 (-1.83%) Market Cap: 2.35 Bil Enterprise Value: 2.55 Bil PE Ratio: 9.73 PB Ratio: 0.79 GF Score: 80/100

Q2 2022 Iren SpA Earnings Call Transcript

Jul 28, 2022 / 01:00PM GMT

Release Date Price: €1.83 (+1.84%)

Transcript

Giulio Domma

Call on the first half '22 results.

I have Mr. Gianni Armani, our CEO; and Ms. Anna Tanganelli, our CFO. First, they will give you the presentation. The Q&A session will then follow. Gianni, the floor is yours.

Gianni Vittorio Armani

Iren SpA - CEO, GM & Director

Thank you, Giulio. Good afternoon, everybody. Starting at Page 2, I would like to outline the main highlights that characterized the first half of the year. EBITDA increased by 9% year-on-year, and gross investments were more than doubled. Sound organic growth supported by network waste and energy efficiency along with the contribution of renewables supported this growth. The resilience is confirmed. Energy value chain was overall positive, thanks also to the capacity market outcome despite several headwinds like extraordinary drought that impacted several businesses and government measures against Soren commodity prices. Gross investment carried out in the period and the payment of dividends led to a net debt increase that remained, however, under control, thanks to cash

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