Source Pravda.Ru

Italgas Profit To Leap 20% On Revalued Pipeline Business

Italgas SpA, Italy's biggest natural gas supplier, said that it is expecting a change in the way that its pipeline network is valued, this will boost operating profit in Italy by “at least” a fifth.

The change, announced on Monday by the energy regulator, should increase the value of the Turin based company's 28,000-mile regional and local network by a similar amount, Italgas said in a statement distributed by the Italian exchange. Italgas is a unit of the state-controlled Eni SpA, Europe's fourth biggest oil company.

The Electricity and Gas Authority abandoned an one and a half year legal battle with Italgas and five other utilities over valuation criteria. Higher network values would allow the companies to charge consumers more. Italgas shares climbed to a sixteen month high yesterday.

“The estimate seems quite prudent,” said Antonio Tognoli, an analyst at ING Bank in Milan, who has a “buy” rating on Italgas shares. “Given how the markets are at the moment and the seasonal nature of the business, I think twenty percent is fine.”

©

&to=http://www.italgas.it/' target=_blank>Italgaz SpA

Comments
Capitalism reduced Indonesian cities to infested carcases
Tel Aviv, Jerusalem, capitals and puppets
Tel Aviv, Jerusalem, capitals and puppets
US-led coalition killed more than 9,000 people in Syria since 2014
US-led coalition killed more than 9,000 people in Syria since 2014
US-led coalition killed more than 9,000 people in Syria since 2014
Turkish President Erdogan issues ultimatum to Washington and Brussels
Capitalism reduced Indonesian cities to infested carcases
Russian special services detain Hizb ut-Tahrir members in Crimea
Donbass without militia will be worse than Srebrenica - Putin
Russian scientists find a way to look inside black holes
Russia not pulling out from any international agreements, Putin says
Tel Aviv, Jerusalem, capitals and puppets
Tel Aviv, Jerusalem, capitals and puppets
Tel Aviv, Jerusalem, capitals and puppets
North Korea is not a threat to the US
Russia's S-500 Prometey to nail USA's THAAD to the wall
Putin: Russia will continue spending enough on defence not to be killed
Russia leaves Syria, but USA stays, to spend some more
100th anniversary of Great October Revolution: Celebrating mountain of errors
ISIS threatens to conduct large-scale terrorist attacks in USA for Jerusalem decision