Ascopiave SpA
MIL:ASC
Ascopiave SpA
Ascopiave SpA engages in the natural gas distribution sector. The company is headquartered in Pieve Di Soligo, Treviso. The company went IPO on 2006-12-12. The firm is primarily active in the distribution and sale of natural gas. Ascopiave SpA is also involved in the sale of electric power, heat management, co-generation and generation of electricity from photovoltaic plants. The firm holds concessions and direct contracts for the management of gas distribution services and it operated of distribution network. The firm operates through numerous direct subsidiaries, including Ascotrade Spa, Edigas Esercizio Distribuzione Gas SpA, Blue Meta SpA, AscoEnergy Srl, Amgas Blu Srl, Pasubio Servizi Srl, Sinergie Italiane Srl, ASM DG Srl, Edigas Due Srl and Etraenergia Srl, among others. On February 10, 2014, Ascopiave SpA acquired a 49% stake in Veritas Energia Srl; as a result of the transaction the Company holds 100% in Veritas Energia Srl. The firm is also active in the integrated water services.
Ascopiave SpA engages in the natural gas distribution sector. The company is headquartered in Pieve Di Soligo, Treviso. The company went IPO on 2006-12-12. The firm is primarily active in the distribution and sale of natural gas. Ascopiave SpA is also involved in the sale of electric power, heat management, co-generation and generation of electricity from photovoltaic plants. The firm holds concessions and direct contracts for the management of gas distribution services and it operated of distribution network. The firm operates through numerous direct subsidiaries, including Ascotrade Spa, Edigas Esercizio Distribuzione Gas SpA, Blue Meta SpA, AscoEnergy Srl, Amgas Blu Srl, Pasubio Servizi Srl, Sinergie Italiane Srl, ASM DG Srl, Edigas Due Srl and Etraenergia Srl, among others. On February 10, 2014, Ascopiave SpA acquired a 49% stake in Veritas Energia Srl; as a result of the transaction the Company holds 100% in Veritas Energia Srl. The firm is also active in the integrated water services.
Revenue Growth: Ascopiave's Q1 2024 revenue rose to EUR 47.4 million, driven by higher gas distribution tariffs and renewable energy sales.
Profitability: EBITDA reached EUR 23.3 million and EBIT EUR 10.9 million, both up year-over-year.
Net Financial Position: Net financial debt stood at EUR 412.2 million, up EUR 22.8 million from year-end, mainly due to investments and working capital.
Investments: The group invested EUR 15.2 million in tangible and intangible assets, focusing on gas networks, renewables, and network upgrades.
EstEnergy Performance: EstEnergy reported Q1 revenues of EUR 377.2 million and EBIT of EUR 16.6 million, with results aligned to budget and improved market conditions.
Guidance & Outlook: Management expects positive results for 2024, with stable margins and continued investment in renewables and gas distribution.
Renewables: Improved electricity production due to favorable rainfall and new wind farm commissioning; renewable energy sales up significantly.
Tax Credits: Management indicates tax credits have already been used and are not expected to impact economic performance.
