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In Torre de’ Passeri (Pescara), not just natural gas. A hydrogen blend coming to the network soon

An innovative project set to launch in the coming weeks, accelerating the energy transition

Torre de’ Passeri (PE), 16 June 2026 – The operational protocol between Italgas, the Ministry of Environment and Energy Security (MASE), the Italian Gas Committee (CIG) and Società Gasdotti Italia (SGI) was signed today for a new major decarbonisation project that makes strategic use of existing infrastructure. The initiative will cover a portion of the territory of Torre de’ Passeri (PE), where a blend of natural gas and hydrogen will be injected into the gas distribution network, initially at 10% and subsequently at 20%.

More specifically, the project will involve approximately 5 kilometres of gas pipelines serving around 220 end users, who will face no additional costs on their bills and will not need to change their consumption habits. The natural gas-hydrogen blend is intended for standard domestic and civil uses such as cooking, heating and hot water production.

Any technical adjustments to internal systems and appliances will be covered by Italgas, while on the equipment side the project involves industrial partners Ariston, Glemgas and Baltur, leaders in their respective market segments. The project also benefits from the scientific contribution of the Politecnico di Milano and the Politecnico di Torino.

The initiative was developed through a gradual process: beginning with theoretical modelling and laboratory analysis, then moving to a “hydrogen house” model to assess real-scale operating conditions. Following validation of the results, the initiative was extended to the territory.

Throughout the project, Italgas will ensure continuous supervision, monitoring and oversight of all activities to guarantee full safety and to collect the data needed for a thorough and structured technical analysis of the findings.

Società Gasdotti Italia will be responsible for the blending of natural gas and hydrogen and for conveying the mixture to the distribution network, ensuring constant and centralised infrastructure monitoring through the deployment of state-of-the-art IoT (Internet of Things) communication systems.

“The Ministry has long promoted and supported projects for injecting hydrogen blends into isolated sections of distribution networks in Italy, in close collaboration with distribution operators and CIG,” said Marilena Barbaro, Director General of MASE. “The first pilot project in Emilia-Romagna has already concluded with positive results. With the outcomes of the Sestu and Torre de’ Passeri programmes, we could have a first comprehensive picture covering the different realities of Italian distribution networks.”

“The Torre de’ Passeri project is an example of research that is essential for any technological evolution in the sector,” stressed Stefano Cagnoli, Director General of CIG. “Since its founding in 1953, CIG’s mission has been to provide technical support for the evolution of the gas industry, with particular focus on safety, infrastructure efficiency and the innovations required by the decarbonisation of the energy sector. In this context, the framework agreement signed with MASE in November 2024 for the development of technical studies and research on natural gas and hydrogen blends for network injection has already enabled three operational projects to be launched, including Torre de’ Passeri. The results will be shared with the relevant authorities and institutions, thereby supporting the evolution of national regulation, a fundamental step for the consolidation of the sector.”

“We are proud that Torre de’ Passeri has been chosen for a project of national significance that we hope will serve as a model for other communities. Injecting a natural gas and hydrogen blend into the network allows our community to benefit directly from decarbonisation, reducing emissions with no impact on citizens’ daily habits,” said Giovanni Mancini, Mayor of Torre de’ Passeri.

“In recent years, Italgas has developed significant expertise in the production and use of hydrogen,” noted Pier Lorenzo Dell’Orco, CEO of Italgas Reti. “Injecting it into gas distribution networks delivers multiple benefits: a reduction in CO₂ emissions proportional to the share of hydrogen in the distributed blend, the enhancement of existing networks without the need for additional investment, and the assurance of energy continuity and security. Our experience demonstrates that the transformation of the energy system can be achieved by building on what already exists, innovating in a targeted way and laying the foundations for an increasingly sustainable, low-emission economy.”

“This project represents one of the first initiatives in Italy involving blending up to 20% that engages the entire gas infrastructure chain, from transport to distribution through to end customers. This is a significant step because it allows us to assess not only how current infrastructure performs, but also how domestic appliances behave with a natural gas and hydrogen blend under real conditions. For SGI, the initiative is also part of the process of upgrading its own network to make it progressively compatible with the transport of hydrogen up to 100%,” said Raffaele Maiello, Chief Operating Officer of Società Gasdotti Italia.

The initiative is part of a broader journey in which Italgas plays a leading role in the development and integration of highly sustainable energy vectors. Both Torre de’ Passeri and Hyround fit within this journey: Hyround is Italy’s first plant for the production of green hydrogen directly connected to an urban distribution network, inaugurated in recent months in Sestu (Cagliari). With the Abruzzo project, Italgas further expands its expertise in the use of hydrogen across different infrastructure contexts, consolidating a pragmatic and sustainable model of energy transition.

Enaon: Gianfranco Amoroso appointed Chief Executive Officer

Milan, 1 June 2026 – Italgas informs that the Board of Directors of Enaon, the Group’s company operating in the gas distribution sector in Greece, has co-opted Gianfranco Amoroso and appointed him as the company’s Chief Executive Officer.

Gianfranco Amoroso boasts extensive experience in the financial sector and in M&A. He has been with Italgas since 2016 and currently holds the position of Head of International Operations.

Enaon holds natural gas distribution licences in 145 municipalities, of which 115 are in operation, serving approximately 650,000 active customers.

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, 2025 – 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

The Shareholders’ Meeting approves the 2025 Financial Statements and the dividend proposal

 

  • 2025 financial statements approved
  • Dividend of €0.432 per share (+13.3% compared to the previous year1
  • Favorable resolutions on the 2026 Remuneration Policy Report and on the 2025 Compensation Paid
  • Approval of the 2026–2028 Long-Term Incentive Plan, the 2026–2028 Co-investment Plan and the free share capital increase serving the latter

 

 

Turin, April 21 2026 – The Ordinary and Extraordinary Shareholders’ Meeting of Italgas was held today in Turin under the chairmanship of Paolo Ciocca, with 76,74% of the share capital represented.

 

Paolo Ciocca, Chairman of Italgas, commented:

The Group’s outstanding performance in 2025 reflects a robust growth model, strengthened by the significant contribution of the integration of 2i Rete Gas. The results show an improvement across all the main economic and financial indicators and enabled us to propose the payment of a dividend equal to €0.432 per share, up 13.3%1 compared to last year. A concrete sign of attention to shareholders’ remuneration and confidence in the Group’s growth prospects”.

 

Paolo Gallo, CEO of Italgas, commented:

In 2025, we successfully launched a new phase of growth for Italgas. A path that will lead us to consolidate our  European leadership in the sector, opening up  even  stronger prospects  for the future.

We continue to invest in the development and digitalization of infrastructure, leveraging innovation and artificial intelligence as strategic drivers to achieve our business and sustainability objectives. This is even more important in a constantly evolving international scenario in which the gas network is a key factor in energy security as well as an enabler of the transition.

The Group’s growth is also reflected in the creation of value for investors and shareholders, as demonstrated by the proposed dividend increase. A virtuous path which also includes the excellent result of the first cycle of the Employee Share Ownership Plan, which demonstrates the active participation of our people in the Company’s growth.

.

The Shareholders’ Meeting:

  • reviewed the consolidated financial statements of the Italgas Group as of 31 December 2025, which closed with a net profit attributable to the Group of €672.3 million (€478.8 million in 2024) and an adjusted net profit attributable to the Group of €674.5 million (€506.6 million in 2024);

 

  • approved the financial statements of Italgas S.p.A. as of 31 December 2025, which closed with a net profit of €356.1 million (€422.4 million in 2024);

 

  • resolved to allocate €17.8 million to the legal reserve and to distribute to shareholders a dividend per share of €0.432 (+13.3% compared to the previous financial year2), using the remaining portion of the profit for the year, equal to €338.3 million, as well as the “Retained earnings” reserve for €100.8 million. The dividend will be payable from 20 May 2026, with the ex-dividend date set for 18 May 2026 and the record date on 19 May 2026.

 

 

Performance reporting and the factors determining and influencing the Company’s ability to create long-term value in social, environmental, and economic-financial areas (including the consolidated sustainability reporting pursuant to Legislative Decree No. 125/2024) are illustrated in the ‘2025 Integrated Annual Report’.

 

As for the Report on the 2026 Remuneration Policy and on the 2025 Compensation Paid, the Shareholders’ Meeting approved, with a binding vote pursuant to Article 123-ter, paragraph 3-ter, of Legislative Decree No. 58 of February 24, 1998 (“CLF”), Section I containing the “2026 Remuneration Policy”, and, pursuant to paragraph 6 of the same article, expressed a favourable opinion with a non-binding advisory vote on Section II concerning the compensation paid in 2025.

The Shareholders’ Meeting also approved the 2026–2028 Long-Term Incentive Plan, under the terms and conditions described in the Information Document prepared pursuant to Article 84-bis of Consob Regulation No. 11971/1999 and made available to the public in accordance with legal requirements, to which reference should be made for further information. This is an instrument aimed at promoting a further alignment of management with the interests of Shareholders and the sustainability of long-term value creation.

 

The 2026–2028 Co-investment Plan was also approved, under the terms and conditions described in the Information Document prepared pursuant to Article 84-bis of Consob Regulation No. 11971/1999 and made available to the public in accordance with legal requirements, to which reference should be made for further information. In particular, the Plan is aimed at ensuring the alignment between the business results achieved, long-term value creation for shareholders and management remuneration, while also promoting the sustainable success of the Company and the Group.

 

Lastly, in the extraordinary session, the Shareholders’ Meeting approved the proposal, serving the 2026–2028 Co-investment Plan, for a free share capital increase, in one or more tranches, for a maximum nominal amount of €6,200,000, through the issuance of up to 5,000,000 new ordinary shares to be allocated, pursuant to Article 2349 of the Italian Civil Code, for a corresponding maximum amount drawn from the retained earnings reserve, exclusively to the beneficiaries of the Plan, i.e. employees of the Company and/or Group companies.

 

***

 

The officer responsible for the preparation of the Company’s accounting documents, Gianfranco Maria Amoroso, declares, pursuant to paragraph 2, Article 154-bis of the CLF, that the accounting information contained in this press release corresponds to the documented results, books and accounting records.

 


1 The dividend for the 2024 financial year, paid in May 2025, was adjusted to take into account the so-called “bonus element” of the rights issue, applying the K coefficient communicated by Borsa Italiana on 30 May 2025. The percentage change between the dividend for the 2025 financial year, to be paid in May 2026, and the dividend for the previous year (€0.406 per share), excluding the adjustment, is 6.4%.

2 The dividend for the 2024 financial year, paid in May 2025, was adjusted to take into account the so-called “bonus element” of the rights issue, applying the K coefficient communicated by Borsa Italiana on 30 May 2025. The percentage change between the dividend for the 2025 financial year, to be paid in May 2026, and the dividend for the previous year (€0.406 per share), excluding the adjustment, is 6.4%.

Italgas: demand exceeding 2.5 times the offering for the new 750 million euros bond

Milan, April 9, 2025 – Italgas S.p.A. (rated BBB+ by Standard and Poor’s, BBB+ by Fitch, Baa2 by Moody’s) today successfully priced a new fixed-rate bond issuance, due 16 April 2032 for an amount of 750 million euros. The transaction recorded orders exceeding 2.5 times the amount offered and was characterized by high quality, geographically diversified institutional investor base.

 

The bond carries a maturity of 6 years with an annual coupon of 3.625% and a final spread of 78 basis points over the reference rate, in line with fair value.

 

The issue represents the first transaction executed under Italgas’ EMTN Programme approved by CONSOB in July 2025 and marks the first dematerialized issuance by an Italian corporate with securities governed by English law and listed on the Mercato Telematico delle Obbligazioni (“MOT”), managed by Borsa Italiana S.p.A..

 

The transaction is intended as pre-funding of financial needs, in line with Italgas’ strategy to optimize its debt structure.

 

The placement, exclusively targeted to institutional investors, was led, as Joint Bookrunners, by BNP Paribas, BofA Securities, Crédit Agricole CIB, IMI-Intesa Sanpaolo, J.P. Morgan, Mediobanca, Société Générale.

 

Details of the transaction are as follows:

 

Amount: 750 million euros

Maturity: April 16th, 2032

Annual coupon: 3.625%

Re-offer price: 99.889 (equivalent to a spread of 78 basis points over the reference Mid-Swap rate).