IPTO Group recorded significant growth in the first quarter of 2024, according to the results announced today. Total revenues for Q1 2024 amounted to €109.8 million, an increase of 16.8% compared to Q1 2023.

Transmission System Rent revenues amounted to €103.6 million, an increase of 16.8% compared to  €88.7 million in Q1 2023. Revenues from the balancing market amounted to €4.5 million in Q1 2024, an increase of 27.3% compared to Q1 2023.

Operating expenses (excluding provisions, depreciation and amortization, and other income) in Q1 2024 increased by 12.3% to €57.6 million, compared to €51.3 million in Q1 2023.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) amounted to €82.2 million (from €70.0 million in Q1 2023). Comparable EBITDA was €82.4 million compared to €70.1 million in Q1 2023, an increase of 17.6%.

Net profit was €36.9 million compared to €29.5 million in Q1 2023, an increase of 25.1%.

Capital expenditure was €97.2 million in the first quarter of 2024. Strong financial position, with net borrowings amounting to €904.4 million, taking into account lease liabilities.

For the first quarter of 2024, the Group recorded investments in projects amounting to EUR 97.2 million compared to EUR 148.7 million in the corresponding period of 2023, while its net borrowings, taking into account lease liabilities, amounted to EUR 904.4 million compared to EUR 950.5 million as of December 31, 2023.