Italgas SpA
MIL:IG

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Italgas SpA Logo
Italgas SpA
MIL:IG
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Price: 9.145 EUR Market Closed
Market Cap: 9.3B EUR

Italgas SpA
Investor Relations

At the heart of Italy's rich tapestry of industrial history lies Italgas SpA, a company that has been channeling energy across the nation since the nineteenth century. Founded in 1837, Italgas has evolved alongside Italy, adapting to the shifting tides of economic and environmental demands. The company specializes in the distribution of natural gas, constructing and operating a vast network of pipelines that thread through urban and rural landscapes. Italgas connects producers and end-users, a crucial link that empowers everything from residential heating to large-scale industrial operations. Through meticulous management of these extensive networks, Italgas ensures a reliable, safe, and efficient delivery of energy, which resonates as the lifeblood of modern society.

Revenue generation at Italgas is intrinsically tied to its core utility service. By investing in cutting-edge infrastructure and technological upgrades, such as smart meters and advanced monitoring systems, the company enhances operational efficiency and customer satisfaction. This focus on technological advancement allows Italgas to streamline its distribution processes, reduce waste, and meet regulatory standards for safety and environmental responsibility. Earnings are bolstered by stable, long-term contracts with municipalities and agreements with domestic and industrial consumers, which provide a predictable flow of income. These strategic pillars not only underpin the company's financial robustness but also align it with the broader goals of sustainable energy and innovation.

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Last Earnings Call
Fiscal Period
Q1 2025
Call Date
May 7, 2025
AI Summary
Q1 2025

Results Growth: Italgas reported strong Q1 2025 results, with double-digit growth in adjusted net income (up more than 12%) and EBITDA (up about 6%).

2i Rete Gas Acquisition: The acquisition of 2i Rete Gas closed ahead of schedule on April 1, 2025, creating Europe's largest gas distributor. The merger with Italgas Reti is set for July 1.

Guidance: Full-year 2025 guidance includes the contribution of 2i Rete Gas for nine months. EBITDA is forecast between EUR 1.8 and 1.85 billion, EBIT between EUR 1.12 and 1.16 billion, technical investments at EUR 1.2 billion, and net debt below EUR 11 billion.

Synergies: Initial 2025 cost synergies from the integration with 2i Rete Gas are expected to be around EUR 10 million, ahead of plan. The company maintains a EUR 200 million synergy target by 2030.

Regulatory Updates: Recent regulatory decisions, including lower WACC and a more favorable RAB deflator, impacted results but were factored into guidance.

Debt Reduction: Net debt was reduced by more than EUR 200 million in Q1 due to strong operational cash flow.

Positive Momentum: The energy efficiency segment is recovering after a tough 2024, with both revenues and margins improving.

Key Financials
EBITDA
EUR 345 million (Q1 2025)
Technical Investments (CapEx)
EUR 166 million (Q1 2025)
Net Debt
EUR 6.56 billion including IFRS 16, EUR 6.47 billion excluding IFRS 16 (Q1 2025)
Operational Cash Flow
EUR 412 million (Q1 2025)
Cost of Debt
1.7% (Q1 2025)
RAB (Regulatory Asset Base)
EUR 9.25 billion (EUR 9.1 billion plus EUR 150 million adjustment at end 2024)
Earnings Call Recording
Other Earnings Calls

Management

Mr. Paolo Gallo
CEO, GM & Director
No Bio Available
Ms. Anna Maria Scaglia
Head of Investor Relations
No Bio Available
Ms. Germana Mentil
General Counsel
No Bio Available
Ms. Chiara Ganz
Head of External Relations & Communications
No Bio Available
Mr. Bruno Burigana
Head of Human Resources & Organisation
No Bio Available
Mr. Nunzio Ferrulli
Head of Public & Regulatory Affairs
No Bio Available
Ms. Raffaella Marcuccio
Head of Procurement & Material Management
No Bio Available
Mr. Salvatore Bilardo
Head of Security
No Bio Available
Mr. Pier Lorenzo Dell'orco
Head of Commercial Development
No Bio Available
Paolo Bosato
Head of Internal Audit
No Bio Available

Contacts

Address
MILANO
Milan
Via Carlo Bo 11
Contacts