Independent Power Transmission Operator (ADMIE Group) reported a consolidated net profit of EUR 120 million in the 9 months of 2024, compared to EUR 91.4 million in the corresponding period of 2023. 

Consolidated total consolidated revenues in the first nine months of 2024 amounted to EUR 356.4 million, compared to EUR 292.9 million in the corresponding period of 2023. 

Transmission system rental revenues in the nine months of 2024 increased by 21.5% to EUR 334.7 million compared to EUR 275.5 million in the corresponding period of 2023, mainly due to: 

• an increase in interconnection royalty revenues of EUR 30.8 million, from EUR 51.3 million in the first nine months of 2023 to EUR 82.1 million in the first nine months of 2024. In accordance with Commission Decision No. E-17/2024, the annual interconnection revenue for 2024 amounts to EUR 109.4 million compared to EUR 68.4 million for 2023. 
• an increase of EUR 26,9 million in system usage charge revenues. 

The transmission system rental income for the current period of ADMIE S.A. is mainly composed of system usage charge EUR 252.2 million (30/9/2023: EUR 225.2 million) and interconnection usage rights EUR 82.1 million (30/9/2023: EUR 51.3 million). 

Based on the decision E-131/2024 of the Energy Sector of RAEAY, the approved required revenue for the system usage charge for the 2024 financial year is EUR 322.9 million. 

Revenue from balancing purchases amounted to EUR 13.9 million for the first nine months of 2024, an increase of EUR 2.2 million compared to the corresponding period of 2023. 

Total revenue from other activities amounted to EUR 7.7 million, registering an increase of 35.1% compared to the corresponding period, mainly due to the increase in revenue from customer participations received due to the conclusion of more user connection contracts. 

Total operating expenses increased for the group by 16.0% to approximately EUR 188.8 million in the first nine months of 2024 compared to EUR 162.8 million in the corresponding period of 2023. 

Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 22.5% to EUR 260.0 million compared to EUR 212.3 million in the first nine months of 2023. The Group's comparable EBITDA amounted to EUR 264.8 million, up 23.6% compared to the nine-month 2023 amount of EUR 214.2 million, excluding the following non-recurring items: 

• provision for the discounted electricity discount given to employees and pensioners of ADMIE S.A. and provision for staff compensation for a total amount of EUR 2.6 million, compared to a provision of EUR 370 thousand for the first nine months of 2023; and
•  a provision for risks and charges of EUR 2,14 million against a provision of EUR 1,46 million for the nine months of 2023 

Consolidated EBIT increased by 28.9% to EUR 167.6 million, compared to EUR 130.0 million in the first nine months of 2023, while comparable EBIT amounted to EUR 172.3 million, up 30.7% compared to EUR 131.9 million in the first nine months of 2023, excluding the aforementioned one-off, non-recurring items. 

Consolidated profit before tax for the period amounted to EUR 157.0 million, up 32.1% compared to EUR 118.9 million for the nine months of 2023.