The Independent Power Transmission Operator (IPTO) announced first quarter results significantly higher than the corresponding period last year.
Based on the financial results announced by the group, total revenues reached 109.8 million euros, marking an increase of 16.8% compared to the first quarter of 2023, while earnings before taxes, interest and depreciation (EBITDA) amounted to 82 .2 million euros (from 70 million euros in the first quarter of 2023).
Comparable EBITDA stood at 82.4 million euros compared to 70.1 million euros in the first quarter of 2023, up 17.6%.
Net profit of 36.9 million euros
Net profits stood at 36.9 million euros compared to 29.5 million euros in the first quarter of 2023, up 25.1%.
Investment spending fell to 97.2 million euros from 148.7 million euros last year, while net borrowing also fell to 904.4 million from 950.5 million at 31 December 2023.
Operating Expenses (not including provisions, depreciation and other income) in the first quarter of 2024 rose by 12.3% and amounted to 57.6 million euros, compared to 51.3 million euros in the corresponding period in 2023.
Revenues from Transmission System Rent amounted to 103.6 million euros, an increase of 16.8% compared to 88.7 million euros in the first quarter of 2023. Revenues from the Balancing Market reached 4.5 million euros in the first quarter of 2024, up 27.3% compared to the same period last year.
