Logotype for Saras S.p.A.

Saras (SRS) investor relations material

Saras Q2 2024 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for Saras S.p.A.
Q2 2024 earnings summary31 Jul, 2024

Executive summary

  • H1 2024 comparable EBITDA was €288.5M and net result €126.6M; Q2 2024 comparable EBITDA reached €90.5M and net result €29.7M, reflecting higher production and improved diesel cracks.

  • H1 2024 revenues rose 9% year-over-year to €5,908M, driven by higher production volumes and improved scenario conditions.

  • Net financial position (pre-IFRS 16) was €10.7M at June 30, 2024, down from €202.7M at end-2023.

  • Major event: Vitol, via Varas S.p.A., acquired 35.019% of Saras, triggering a mandatory tender offer and potential delisting.

  • H1 2024 investments totaled €79.9M, mainly for maintenance and renewables.

Financial highlights

  • H1 2024 reported EBITDA was €275.2M; Q2 2024 reported EBITDA was €97.7M.

  • H1 2024 net result was €108.7M; Q2 2024 net result was €31.3M.

  • Dividend payout in H1 2024 was €142.2M.

  • Q2 2024 CapEx was €49M, mainly for refinery maintenance and solar plant completion.

  • Operations generated €208M in funds in H1; net financial position at quarter-end was €11M.

Outlook and guidance

  • Refining margin premium over EMC reference margin expected in the $3.5–$4.5/bbl range for 2024.

  • Annual crude processing expected at 13.2–13.5 Mton; power generation at 4.0–4.2 TWh.

  • CapEx guidance for 2024 confirmed at €170–180M, including energy transition investments.

  • Full-year fixed cost guidance confirmed at €380M–€400M, below last year.

  • Net financial position expected to remain robust and positive at year-end.

Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Your earnings 
season toolkit.
Download
Free on both iOS & Android.

The essential earnings season companion

The #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

Live calls and transcripts

Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.

Find what you need faster

Search for any keyword across all transcripts simultaneously.

Easily store key findings

Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Your watchlist. Your dashboard.

Follow the companies that matter to you. Get a personalized feed with real-time updates.

Be the first to know

Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.

Consensus estimates

Access analyst consensus estimates, valuation multiples, and revenue segments splits.

All IR material in one place

The easiest way to stay updated during earnings season.

Global coverage

All events from public companies. Live and recorded.

Just click and listen

No webcast links. No manual registrations.

Research anytime, anywhere

Built for professionals. Loved by everyone. Try our free mobile app.

excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com

Frequently asked questions

Saras S.p.A. is an Italian energy company with diversified operations across petroleum refining, marketing, transportation, and power generation. Established in 1962 by Angelo Moratti, the company has grown significantly, with its main production facilities situated in Sarroch, Sardinia, Italy. Saras is known for operating one of the Mediterranean's largest refineries, with a substantial refining capacity that plays a critical role in Italy's energy supply. In addition to its core refining business, Saras has expanded into the power generation sector, including natural gas and wind energy, to diversify its energy portfolio. The company also actively participates in the wholesale market for oil products, with a significant presence in both the Italian and Spanish markets. The company is headquartered in Milan, Italy, and its shares are listed on the Borsa Italiana.

Quartr provides global coverage of all investor relation material from public companies.

  • Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

  • Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.

  • Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.

Yes, the Quartr mobile app is free on both iOS and Android.

Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.

Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.

Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.

Explore our global coverage