We invest in the digital transformation of our networks to be protagonists of the energy transition, giving impetus to the development of renewable gases and energy efficiency. This is our commitment for the next few years, with an ambitious strategic plan for 2029.

Strategic Plan 2023-2029


The new plan includes total investments of € 7.8 billion, mainly dedicated to interventions for asset development and gas distribution activities in Italy and Greece, energy efficiency activities, and water sector development. In this sector, following the recently announced acquisition agreements of Veolia’s assets, the Group expects to seize additional growth opportunities.



Strategic Plan 2023-2029

Investments of € 7.8 billion for the development and digital transformation of assets, strengthening in Greece, and becoming a key player in the water distribution and energy efficiency sectors, while continuing to play a leading role in achieving EU climate goals. Dividend policy updated and extended until 2026.

2023 third quarter results

In the first nine months of the year, € 589 million of investments were made, mainly for the extension, digital transformation and repurposing of networks. More specifically, 679 kilometres of new gas pipelines were laid.

The contribution from activities in Greece has been significant, where an investment of approximately 74 million euros has led to the construction of 435 kilometres of new gas pipelines.

The EBITDA for the first nine months of 2023 amounted to € 910.5 million (+15.9% compared to 30 September 2022) and adjusted net profit attributable to the Group was € 316.7 million (+10.8% compared to 30 September 2022).

Cash flow from operating activities, net of the ESCo contribution, amounted to 576.8 million euros and fully offset investments related to gas distribution.

With reference to sustainability goals, the significant contribution of the various innovation, digitisation and energy efficiency initiatives, both in the industrial and civil sectors, as well as the training activities aimed at employees on energy efficiency issues, have allowed the Group to continue on its path towards reducing net energy consumption (-14.1%) as well as the ratio of fugitive emissions to kilometres of inspected network (-10.8%), even against the inclusion of the DEPA Infrastructure Group’s contributions related to 2023.

2023 Shareholders’ Meeting

Italgas’ Ordinary Shareholders’ Meeting took place on 20 April 2023 in Turin, under the chairmanship of Benedetta Navarra, holding a total of 82,52%. of the share capital.

During the meeting was approved the dividend of 0.317 euro per share (+7.5% compared to the previous year)

Outlook: expected performances

Based on the positive results achieved in 2021 and in the first quarter of 2022, marked by the constant growth of all the main economic indicators, we will continue to pursue our strategic objectives despite a context marked by the sharp rise in energy prices and the Russian-Ukrainian conflict.

To grow not only to consolidate our market positioning, but also to help transform the gas infrastructures in Italy, make our company increasingly efficient, invest in innovation to play our part in Italy’s digitisation: these are the priorities in our Strategic Plan.

Why invest in Italgas

Number 1 in gas distribution in Italy and third in Europe, Italgas is known for the solidity of its financial structure, low risk profile, its strength from over 180 years of history and its immense appetite for innovation.


Retail Investors

We pay attention to our retail shareholders, who can find in a dedicated area information on our activities, our stock market performance and participation in meetings.


From here you can access the financial calendar.

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Investor Relations

Via Carlo Bo, 11
20143 Milano
Tel. +39 02 8187 2175

Responsible investors

In 2023, our stock was confirmed in the FTSE4Good index series and the Dow Jones Sustainability Index. We are the only Italian utility in the gas distribution sector to be listed in the DJSI World.

The shareholders’ meeting

The shareholders’ meeting is a fundamental moment of dialogue with the community of shareholders. The last meeting was held on 20 April 2023.


Press releases

See price sensitive press releases.


For the transmission and storage of the Regulated Information, the Company uses the transmission system E-MARKET SDIR and the storage device E-MARKET STORAGE which can be consulted on the website and are managed by Teleborsa S.r.l. , with registered office in Rome, at 4 Piazza Priscilla, as per CONSOB authorization and resolutions n. 22517 and 22518 of 23 November 2022.

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