While it continues to pursue its strategic objectives and observe the price trajectory of the ATRT7, GRTgaz’s financial performance remained particularly robust in 2023, as did the company’s balance sheet.
GRTgaz posted revenue of €2,112 million in 2023. This was up (by €33 million) on 2022 (€2,079 million). This slight rise is primarily due to price effects in the regional network and interconnections with European neighbours’ networks.
The additional revenue will have to be returned to the market in future financial years (via the CRCP mechanism).
Income from transmission was €2,007 million (compared to €1,973 million in 2022), representing 95% of total revenue. Regarding diversi f ication, €10 million invested in the Eiffel Gaz Vert and Clean H2 funds and €25 million in supplementary services were invoiced (€20 million in 2021) and account for 1% of total revenue. This income consists essentially of technical and R&D services.
EBITDA for the 2023 financial year was €1,055 million (€1,198 million in 2022), down by €143 million on the previous year. This change is due to the increase in energy costs associated with the rise in gas and electricity prices in 2023.
The net profit after tax was €317 million (€419 million in 2022), down by €102 million on 2022. This change is due to the factors presented above and the increase in net operating costs caused by inflation and the price effect on staff costs.
Investment expenditure was €416 million in 2023, compared to €401 million the previous year.
As explained in section 4.3.4, the share of investment spent on receiving renewable gas and on the decarbonisation of our infrastructure (activities eligible for the new EU Taxonomy) increased by 12% compared to 2022, to €76 million.
At the end of December 2023, GRTgaz’s net debt was €3,627 million, compared to €3,643 million at the end of 2022.
| 2022 | 2023 | |
| Revenue | 2,079 | 2,112 |
| Transmission income | 1,973 | 2,007 |
|
Other income |
106 | 105 |
| EBITDA | 1,198 | 1,055 |
| Income from recurring
operations |
658 | 507 |
| Net income | 419 | 317 |
| Investments | 401 | 416 |
| Net debt | 3,643 | 3,627 |
