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Italgas: The Board of Directors appoints Pierre La Tour as the new Officer responsible for the preparation of financial reports

Milan, 27 May 2026 – The Board of Directors of Italgas S.p.A., upon proposal of the Chief Executive Officer and with the favourable opinion of the Board of Statutory Auditors, has appointed Pierre La Tour as Officer responsible for the preparation of financial reports with effect from 1 June 2026, from that date he will also assume the Chief Financial Officer role.

The previous Officer responsible for the preparation of financial reports, Gianfranco Amoroso, to whom we extend our thanks for the fruitful activity carried out, continues his professional career in Italgas, with the role of Director of International Activities.

Pierre La Tour does not appear to be a holder of Italgas shares.

Italgas and I3P launch a new call for startups for the future of energy networks

The open innovation initiative seeks advanced solutions and technologies to continue the digital transformation of networks in support of the transition towards a zero-emission economy.

Turin, 26 May 2026 – The Italgas Group and the Innovative Companies Incubator of Politecnico di Torino (I3P) present a new initiative, entitled “Shaping the Future of Energy Networks“, to explore the national and international innovation ecosystem, with the aim of gathering and analysing advanced solutions and technologies capable of continuing to contribute to the digital transformation of energy infrastructures.

Technological innovation developed by research teams and young companies is indeed an important enabling factor for the further evolution of large infrastructures. The new call launched by Italgas and I3P, within the framework of the open innovation programme “Ideas 4 Italgas” initiated in 2020, aims to identify project proposals capable of contributing to the strengthening of the resilience, intelligence and security of gas and water networks, as well as to the transition towards zero or low-emission energy systems, fostering digitalisation, operational efficiency, the integration of renewable gases and sustainable long-term decarbonisation models.

The best candidate projects will have the opportunity to engage with Italgas and the Group’s subsidiaries, as well as to receive a range of potential benefits and support for their further development on the market. Participation in the initiative offers, in fact, the possibility of obtaining resources from Italgas to develop a Proof-of-Concept (PoC), i.e. a first concrete application aimed at verifying the feasibility and effectiveness of the proposed solution in the field; but also of benefiting from Italgas Mentorship, to explore the possible integration of the product or service into business processes, as well as of entering one of I3P’s incubation programmes aimed at refining the entrepreneurial knowledge and skills necessary for the maturation of the project, supporting the search for external funding and fostering their networking. The ultimate goal is to guide the most promising solutions towards progressive large-scale adoption within the Italgas Group, facilitating their validation in the sector.

The call focuses on two main areas of interest. The first is “Resilient Grid“, solutions to make gas and water distribution networks smarter, safer and more resilient to external events and self-adaptive to operating conditions, through the use of both digital technologies – such as artificial intelligence (AI) and advanced sensors – and new construction methodologies. The second area, “Energy Transition“, encompasses the optimisation of resource use and the transition towards low-emission energy systems, enabling the development of decarbonisation technologies.

The initiative is open to working groups and incorporated companies. To be eligible, candidate projects must be at one of three stages of maturity: “Idea“, capable of being translated into a prototype by 2027; “MVP“, i.e. a prototype capable of opening new market segments and opportunities; “Products on the market“, meaning products and services already commercialised or ready for launch.

Participation in the initiative is free of charge: project applications, in Italian or English, must be submitted on the Ideas 4 Italgas website by the deadline of Friday, 31 July 2026. All applications received will be evaluated by October, and the final award ceremony for the winners will be held in Turin in November.

“In recent years our Group has undergone a profound transformation, grounded in the digitalisation of assets, technological innovation and, of course, a concrete commitment to serving the energy transition”, said Leonardo Ambrosi, Group Innovation Officer at Italgas. “In this context, Open Innovation has established itself not only as an enabler of development, but as a strategic driver capable of accelerating change and generating value. With this new call, we further strengthen this approach, once again opening up dialogue with the external ecosystem to capture new ideas, expertise and solutions capable of contributing to the sustainable growth of the Italgas Group.”

“We are very pleased to have the opportunity to collaborate once again with the Italgas Group, an international organisation that has placed technological evolution and a commitment to sustainability at the heart of its strategic vision”, commented Giuseppe Scellato, President of I3P. “This year too, as in 2021 and 2024, the open innovation initiative by Italgas and I3P will offer startups and teams of innovators a concrete opportunity for direct engagement with a major industry player, possibilities for joint experimentation and entrepreneurial growth, with the expert guidance of the incubator’s specialists.”

 


Italgas S.p.A.

Italgas is a Network Tech Company, leader in the sectors of gas distribution, water services, energy efficiency and IT. Following the acquisition of 2i Rete Gas, its main competitor, Italgas has become the leading operator in gas distribution in Europe, managing a network of over 150,000 kilometres and more than 12 million customers in Italy and Greece. Through its subsidiaries in the water sector, the Group provides services, directly and indirectly, to 6.3 million people, equal to 10% of the Italian population, primarily in the Lazio, Sicily and Campania regions. Founded in 1837, Italgas is recognised as the company that brought gas into Italian homes, contributing significantly to the economic and social development of the country. Today Italgas is a company looking towards the future, with clear growth and development objectives. It is implementing an ambitious investment plan to expand its services and improve efficiency through digital technologies. These innovations not only optimise network management, but also prepare the gas infrastructure for the integration of renewable gases such as biomethane, synthetic methane and hydrogen.

For further information: www.italgas.it

 

I3P – Incubatore del Politecnico di Torino S.c.p.a.

The Innovative Companies Incubator of Politecnico di Torino (I3P) supports the creation and development of innovative startups with high technological intensity and growth potential, founded both by university researchers and students, and by external entrepreneurs, providing strategic consulting services, coaching, mentoring, fundraising support and workspaces. Founded in 1999, I3P is a consortium company with share capital, with shareholders including the Politecnico di Torino, Fondazione LINKS, the Turin Chamber of Commerce, Finpiemonte, the Metropolitan City of Turin and Fondazione Piemonte Innova; to date it has incubated over 400 startups. I3P’s mission is to support the entrepreneurship ecosystem, with the objective of generating economic development and employment in innovative industrial supply chains. I3P adopts a strategy of collaboration with institutions and private entities engaged in research and higher education, technology transfer services, innovation financing, and internationalisation towards new markets.

For further information: www.i3p.it

Italgas and Tokyo Gas Network step up innovation and sustainability of gas networks

Tokyo, 12 May 2026 – Italgas and Tokyo Gas Network today renewed, at the Italian Embassy in Tokyo, the Memorandum of Understanding (MoU) aimed at strengthening cooperation in the strategic areas of gas distribution and at fostering the development of joint projects. The Memorandum was signed by Paolo Gallo, CEO of Italgas, and Satoshi Tanazawa, CEO of Tokyo Gas Network, in the presence of the Italian Ambassador to Tokyo, Mario Vattani.

“We are very pleased to host at the Italian Embassy in Tokyo the renewal of the collaboration between Italgas and Tokyo Gas Network, on the 160th anniversary of bilateral diplomatic relations,” – declared the Italian Ambassador to Japan, Mario Vattani -. “In the current geopolitical context, this Agreement represents a further step forward towards greater energy security and contributes to strengthening supply chains, in the spirit of the Special Strategic Partnership announced between the two Governments in January 2026 and in line with the directives of the Italy-Japan Business Group, of which Italgas is a founding member”.

“We are honored to have reached an agreement to further deepen our strategic partnership with Italgas, the leading European gas distributor – said Satoshi Tanazawa, CEO of Tokyo Gas Network –. Their advanced expertise in digitization will be a powerful driver in enhancing our operational capabilities. By continuously exchanging our respective know-how, we aim to drive operational efficiency through improved productivity, while fulfilling our mission of ensuring a stable energy supply and maintaining safety. Through this collaboration, we are committed to achieving the sustainable growth of our network business and contributing to the evolution of a resilient energy infrastructure”.

“International dialogue and partnerships with leading players are essential pillars of our growth path – said Paolo Gallo, CEO of Italgas -. The renewal of the agreement with Tokyo Gas Network consolidates a valuable relationship and enables us to further accelerate the development of increasingly digital, resilient and sustainable networks. In particular, this collaboration allows us to leverage complementary expertise in key areas such as advanced infrastructure digitalisation, the strengthening of network resilience also in complex environments, and the evolution of grids to accommodate growing volumes of renewable gases”.

Through the Memorandum, the two companies will continue to share expertise and best practices to foster innovation, resilience and sustainable development of gas distribution networks. The cooperation will focus in particular on:

  • Infrastructure resilience and safety: exchange of know-how to enhance the networks’ capacity to respond to extreme events and complex operating conditions.
  • Technological innovation and digitalisation: development and deployment of advanced technological solutions to optimise network management and improve operational efficiency.
  • Supply chain: cooperation on advanced procurement models to enhance performance, quality and sustainability.

Italgas: the Board of Directors approves the renewal of the EMTN programme, increasing the maximum nominal amount

Milan, May 5, 2026 – Italgas’ Board of Directors, chaired by Paolo Ciocca, met today and approved the renewal of the EMTN (Euro Medium Term Notes) Programme, increasing its maximum nominal amount from €5 billion to €7 billion.

As of today, under the EMTN Programme, notes outstanding amount to €750 million in nominal value.

The Board of Directors has also approved the issue of one or more bonds to be placed only with institutional investors within one year of the date of the renewal of the Programme. The total amount of the bonds issued may not in any case exceed the abovementioned maximum amount. The new bonds issued may be listed on regulated markets.

Italgas: consolidated results as at 31 march 2026 approved

Milan, 5 May 2026 – Italgas’ Board of Directors, chaired by Paolo Ciocca, met today and approved the consolidated results as at 31 March 2026 and the guidance of the year 2026. The data take into account the significant change in scope with the consolidation of 2i Rete Gas starting from 1 April 2025.

Highlights

  • Adjusted total revenues: 661.7 million euro (+44.1%)
  • Adjusted EBITDA: 526.8 million euro (+52.6%)
  • Adjusted EBIT: 340.7 million euro (+51.2%)
  • Adjusted net profit attributable to the Group: 189.4 million euro (+42.8%)
  • Technical investments: 342.8 million euro (+106.9%)
  • Cash flow from operating activities: 643.0 million euro
  • Net financial debt (excluding the effects pursuant to IFRS 16 and IFRIC 12): 10,206.8 million euro
  • Net financial debt: 10,350.7 million euro
  • Scope 1 and 2 (market-based) emissions: 28.8 10³ tCO₂eq, -2.7% – Gas distribution sector, like-for-like1
  • Net energy consumption: 136.6 TJ, -18.3% – Gas distribution sector, like-for-like2

 

 

The results for the first quarter mark a strong start to 2026 characterised by extremely positive performances, with the main economic and financial indicators recording growth of over 40% and 50% compared to the same period of the previous year. The Group’s development trajectory continues on the track of the 37 consecutive quarters of growth since Italgas’ return to the stock market, thanks to the ongoing focus on operational efficiency and to the synergies already executed after one year since the closing of the acquisition of 2i Rete Gas.

 

As at 31 March 2026, the Group recorded adjusted EBITDA of 526.8 million euro, up 52.6% compared to the first quarter of 2025, and adjusted EBIT of 340.7 million euro, representing an increase of 51.2% year on year.

Cash flow from operating activities amounts to 643.0 million euro, an increase of 230.9 million euro compared to the same period of 2025 benefiting from the favorable seasonality, and exceeding capital expenditure requirements. The abovementioned cash generation, together with the 197.6 million euro proceeds from the divestment of gas distribution activities following the Antitrust ruling, contributed to the reduction of net financial debt by 527.0 million euro over the quarter.

Technical investments in the first quarter amounted to 342.8 million euro, supporting the construction of approximately 284 kilometres of new gas distribution pipelines in Italy and Greece, as well as the continued implementation of the digital upgrade of the networks acquired through 2i Rete Gas deal, aimed at aligning them to the Group’s standards.

In the water sector, activities focused on the development of digital technologies, leveraging solutions adopted in the gas sector, with the aim of increasing operational efficiency and reducing network losses.

In the energy efficiency sector, the results of the first quarter of 2026 reflect a contraction in the business, due to lower activity related to incentives no longer in place from 1 January 2026.

 

Guidance 2026

The Group forecasts the following for the 2026 financial year:

  • EBITDA adjusted: 2.10-2.15 billion euro
  • EBIT adjusted: 1.34-1.37 billion euro
  • Adjusted net profit attributable to the Group: 0.74-0.76 billion euro
  • Technical investments: 1.5 billion euro
  • Net financial debt: 10.8 billion euro3

Paolo Gallo, CEO of Italgas, commented:

 

“The results for the first quarter of 2026 mark the beginning of the most significant year in our recent history, delivering outstanding performance that lays the foundations for continued progress in line with the development targets we have set for ourselves.

Economic and financial indicators show robust growth, thanks to the integration of 2i Rete Gas, in several cases close to or exceeding 50%: adjusted EBITDA increased by 52.6% reaching 526.8 million euro, while adjusted Group Net Profit amounted to close to 190 million euro, scoring a +42.8% increase compared to the same period of 2025.

With approximately 350 million euro invested, we are accelerating the digital upgrade of the new assets acquired through the 2i Rete Gas and further developing the network in Italy and Greece.

2026 represents a key milestone for Italgas: the 2026 guidance incorporates the significant synergies resulting from the integration with 2i Rete Gas and the first results of the increasingly widespread adoption of artificial intelligence in processes and operating activities.

 


We are already at an advanced stage of this journey, and I am confident that by continuing to invest in our people’s skills, in our consolidated know-how and in technological leverage, we will be able to take a further step forward, continuing to create value for the communities, the territories in which we operate and for all our stakeholders.”

1Comparable perimeter 2025. Taking into account also the contributions from the “Water service” sector (11.3×10³ tCO₂eq) and from the former 2i Rete Gas perimeter (19.2×10³ tCO₂eq), the Group’s total emissions amount to 59.3×10³ tCO₂eq.

2Comparable perimeter 2025. Taking into account also the contributions from the “Water service” sector (97.0 TJ) and from the former 2i Rete Gas perimeter (101.8 TJ), the Group’s total energy consumption amounts to 355.4 TJ.

3 Net financial debt expected excludes the effects of IFRS 16 and IFRIC 12.

Italgas completes disposal process with sale of the last two ATEMs in compliance with AGCM resolution approving the acquisition of 2i Rete Gas

Milan, May 4 2026 – Italgas announces that, in compliance with the AGCM resolution that authorized the acquisition of 2i Rete Gas, it has finalized on May 1 the disposals of the gas distribution activities in the Campobasso and Frosinone 2 ATEMs to the temporary consortium (ATI) formed by Plures, Estra and Centria.

Overall, 30,000 active redelivery points (meters), networks, plants, related personnel and net assets instrumental to the management of the service – previously transferred to a newly established company – were sold for a total consideration of €23.5 million1.

The disposals were carried out in compliance with the communication dated 9 October 2025.

With this divestment, the disposal process envisaged by the AGCM resolution has been completed. Overall, 247,000 redelivery points relating to the gas distribution networks in 100 municipalities across 12 ATEMs were sold, together with the relevant personnel and all necessary equipment to ensure the orderly management of the service. The total sale price of the divested assets amounted to €253.1 million, with an average premium over RAB (Regulated Asset Base) of 16%. In the coming months, post-closing adjustments will be carried out.

The companies that acquired the assets covered by the AGCM resolution are:

  • in the ATEMs of Bari 2, Barletta-Andria-Trani, Campobasso, Frosinone 2, Massa-Carrara, Pisa, Teramo and Viterbo, the temporary consortium (ATI) formed by Plures, Estra and Centria;
  • in the ATEMs of Padova 2 and Padova 3, Ascopiave;
  • in the Brescia 5 ATEM, GP Infrastrutture;
  • in the Roma 5 ATEM, Erogasmet.

 


1Price subject to possible post-closing adjustments based on positive or negative balance settlements