Gas Plus jumps as H1 EBITDA grows by half on strong Longanesi gas output
BUZZ-Gas Plus jumps as H1 EBITDA grows by half on strong Longanesi gas output ** Shares in Italy's Gas Plus GSP.MI rise more than 10% after the natural gas producer's half-year core profit grew by more than a half and overall gas production increased by 46.4%
** H1 EBITDA grew 52.7% y/y to €50.1 million ($57.8 million), as production from Italy's key Longanesi gas field more than tripled to 70.6 million standard metric cubes (SMC)
** Gas Plus says it expects Longanesi production to grow 10-20% compared to last year's 110 million SMC
** "The results showed a strong improvement in EBITDA, net profit and net debt and are consistent with our 2026 estimates," broker Akros says, confirming its "buy" rating and PT of €8
** Shares jump 11.4% to €6.96, in contrast to Italy's all-share index .FTITLMS that falls 0.8%
($1 = 0.8667 euros)
(Enrico Sciacovelli)