Changes to Italgas’ calendar of corporate events

Changes to Italgas’ calendar of corporate events

Postponed Strategic Plan 2020-2026 and third quarter results presentations

Milan, May 28, 2020 – Italgas informs that considering the epidemiological emergency caused by the Covid-19, the presentation of the Strategic Plan 2020-2026 to the financial community was postponed to October 30, 2020. On the same date the 2020 third quarter results will be presented.

The 2020-2026 Strategic Plan will be submitted to the Board of Directors for approval at the meeting held on October 29, 2020, already scheduled to approve the third quarter results.

On June 11, 2020 at 3 p.m. a conference call will be held to update the financial community on the 2020 performance and on the expected impact of Covid-19 emergency.

The calendar of corporate events is available at the address https://www.italgas.it/en/investors/financial-calendar/

Italgas acquires a 15% share of Reti Distribuzione

Italgas acquires a 15% share of Reti Distribuzione from AEG Coop and strengthens its presence in Piedmont.

Milan, 26 May 2020 – Italgas strengthens its presence in Piedmont thanks to the agreement signed today with AEG Coop (Azienda Energia e Gas Società Cooperativa), active in the sale and distribution of natural gas based in Ivrea, for the acquisition of 15% of the subsidiary Reti Distribuzione.

Reti Distribuzione, whose share capital is entirely owned by AEG Coop, operates at the service of 49 municipalities for 32,000 redelivery points distributed mainly in Ivrea and the surrounding areas.

The amount agreed for 15% of the share capital of Reti Distribuzione is equal to 4.56 million euro.

Italgas restarts: services active in Phase 2

More than 2 months after the beginning of the Covid19 emergency, Italgas restarts at the beginning of Phase 2. From the beginning of the “lockdown” until today, in fact, the company has continued to guarantee in the field all the essential services related to the efficiency, continuity and safety of the gas distribution service.
In the same way we have carried out the new activations and reactivations in order to ensure new users the service and “normality” of life at home, thanks to the daily use of gas.

In compliance with Legislative Decree no. 33 of May 16, 2020 DPCM of April 26, 2020, the requirements imposed by the ARERA and the indications of the Ministry of Economic Development, Italgas continues to provide essential services, including activations and reactivations, also in Phase 2 and, in addition, returns to take charge of all other service requests on utilities that do not involve entry into individual private homes, such as for example:

  • New connections
  • Counter replacements
  • Deactivations
  • Suspensions and interruptions of supplies due to delinquency
  • Readings
  • Estimates for work on plants and meters and related inspections
  • Checks on malfunctioning meters

In particular emergency situations, Italgas can also intervene in private homes, to ensure the continuity and availability of the service in safe conditions for users.
The Italgas Emergency First Aid service is always active 24 hours a day, 7 days a week on the number 800-900-999.

In addition to the management of the requests on the users, the interventions in the field to extend our networks in the areas not yet reached by methane, to modernize the plants and replace sections of the grid with more modern, safe and efficient solutions are distributed throughout the country. Continuing the investments foreseen by the Italgas Industrial Plan is possible thanks to the provision of the necessary personal protective equipment, supplied to all our technicians in the field, and above all thanks to the adoption of new working methods and the use of digital tools introduced by the Italgas Digital Factory. Essential technologies to facilitate remote work and ensure the safe continuation of activities.

Phase 2 represents a fundamental moment for the restart of the country and of all the territories in which we operate. Thanks to the reorganization of activities and technologies adopted in the field we will continue to provide all users with an efficient and safe service, as Italgas has been doing for over 180 years.

Shareholders’ Meeting: 12 May 2020

The ordinary session of the Shareholders’ Meeting of Italgas is called, in a single call, for 12 May 2020, at 11.00 a.m., in Milan, Via Carlo Bo 11, to discuss and resolve upon the agenda of which at the Notice of Shareholders’ Meeting.

In view of the ongoing health emergency related to the COVID-19 epidemic, it will be possible to follow the live streaming from the link below.

Instructions to access streaming:

Starting from 11:00 a.m. you can watch the Meeting live streaming.
After clicking on the link below, you will land on the platform access page.
Once on the page, click on “Register” and fill in the required fields (as user you can enter, for example, your company email and as a password one of your choice).
After filling in the registration form, click on one of the two boxes with the preview of the live event in order to choose the language you prefer (Italian or English) and then click on the “Play” icon.

  Follow the live streaming

Italgas’ Shareholders’ meeting approves the 2019 financial statements and dividend proposal

  • Approved 2019 Financial Statements
  • Dividend of 0.256 € per share (+9.4% compared to the previous year)
  • Positive resolution on the 2020 remuneration policy and compensation paid
  • Appointed Deloitte & Touche S.p.A. to audit the accounts for the period 2020-2028.

 

Milan, 12 May 2020 –  Italgas’ Ordinary Shareholders’ Meeting was held today in Milan under the chairmanship of Alberto Dell’Acqua, recording an attendance figure of 77.17% of the share capital.

“In the health emergency we are going through – Italgas President Alberto Dell’Acqua underlined – I want to take the opportunity of this meeting to ideally thank all Shareholders for having shared our choice to play an active role in supporting the structures invested by the unpredictable shock wave of the Covid-19. We have granted aid to a number of hospitals, from North to South of the country, and to the Civil Protection Dept. conscious that each one of us – employees, company, management and Shareholders – is called to do its best to help protect and rebuild the future of the communities that we have been privileged to serve for over 180 years”.

Paolo Gallo, CEO of Italgas, commented as follows:

 “I would like to express my appreciation, that of the Board of Directors, as well as my thanks to the Italgas Shareholders for their large participation in today’s Shareholders’ Meeting despite the unusual way it had to be held. Having deliberated in accordance with the proposals presented confirms a unity of intent and a shared vision of the company and its objectives. The economic and financial strength of the Group and its growth prospects have evidently allowed the approval of the proposed dividend of €0.256 per share, up by more than 9% compared to the previous year, whereas the hard times the country is going through have led other companies to revise some objectives and especially the remuneration policy for shareholders”.   

Pursuant to Article 106, paragraph 4, of Decree Law no. 18 of March 17, 2020, the Shareholders’ Meeting was attended exclusively by the Designated Representative pursuant to Article 135- undecies of Legislative Decree no. 58 of February 24, 1998 (“TUF”).

The Shareholders’ Meeting:

  • examined the consolidated financial statements of the Italgas Group at 31 December 2019, ended with a net profit attributable to the Group of € 2 million (€ 313.7 million as at 31 December 2018) and an adjusted net profit attributable to the Group of € 345.2 million (€ 315.5 million as at 31 December 2018);
  • approved the Financial Statements as at 31 December 2019, ended with profits of € 223.6 million; (€ 7 million di euro as at 31 December 2018;
  • resolved to distribute 0.256 euro per share (+9.4% compared to the previous year) as a dividend for a total of 207,138,688.51 euro and to carry forward the remaining amount of 16,485,355.94 euro. The payment of the dividend due on each share from 20 May 2020, with coupon no. 3 on 18 May 2020 and a record date of 19 May 2020.

The Shareholders’ Meeting also approved the consensual resolution to appoint the independent auditors PricewaterhouseCoopers S.p.A. and to appoint Deloitte & Touche S.p.A. as independent auditors for nine financial years, specifically for the financial years ended 31 December 2020 to 2028.

With reference to the 2020 remuneration policy and compensation paid, the Shareholders’ Meeting approved Section I called “Remuneration Policy 2020”, pursuant to Article 123-ter, paragraph 3-ter, of the TUF, with a binding vote, and expressed a favourable opinion with a consultative and non-binding vote on Section II, pursuant to Article 123-ter, paragraph 6, of the TUF.

The Long-term Monetary Incentive Plan 2020-2022 was also approved, under the terms and conditions described in the Information Document made available to the public in the manner prescribed by law. This is a tool designed to promote further alignment of management to the interests of shareholders and the sustainability of long-term value creation.

Finally, at today’s Shareholders’ Meeting, Italgas has also presented its 2019 Non-Financial

Statement, the document describing the Company’s commitment to CSR issues, its business model and the policies applied with regard to environmental, social and personnel-related activities, respect for human rights and the fight against active and passive corruption. In compliance with the indications set out in the Legislative Decree no. 254/2016, the Non-Financial Statement was drawn up in a separate and autonomous document, submitted to the audit of the independent auditors PWC S.p.A., presented by the Sustainability Committee and approved by Italgas Board of Directors.

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