Business model

As a company we are called upon not only to carry out our activities in the best possible way but also to create shared value for our stakeholders.

The Business Model below shows the flow by which Italgas creates value over time by transforming its “capital into inputs” (value stock) through its activities, and produces outputs and outcomes, in order to meet its strategic goals and create value in the short-, medium- and long-term.



In the representation of the model, the capital inputs correspond to the resources and distinctive factors of the Group such as the distribution network, know-how, people, relations with stakeholders, which are used, transformed or increased in the various processes.

Input capitals

  • Financial Capital Financial capital guarantees the cash flows needed to ensure investments, infrastructure management and achievement of the growth and diversification goals.
  • Human Capital Human capital is made up of all the people at Italgas and their skills, knowledge and experience.
  • Natural Capital Natural capital consists of the environmental resources used by the Group to carry out its activities, including the environmental resources themselves, such as natural gas, which enable the Group to provide the service.
  • Relational Capital Relational capital consists of the relations built and preserved by Italgas within the community and with its reference stakeholders.
  • Intellectual Capital Intellectual capital is made up of company know-how, company processes and systems enabling optimum management of business activities.
  • Manufacturing Capital Manufacturing capital is made up of the Group’s assets.

The 2021-2027 Business Plan and the Sustainability Plan of the Italgas Group, also on the basis of the input capital, constitute the main guidelines along which the Italgas Group works (sustanability):

  • Digital transformation
  • Growth and development of the core business
  • Decarbonisation process
  • New opportunities
  • Financial structure and return for shareholders
  • Human resources.

The operations of the Italgas Group are also included in the business model. Below are the key processes of these operations:

  • Governance processes
  • Business processes
  • Support processes
  • Control processes.
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