Investors

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 Full Year Results

The results achieved in 2023 show all economic and financial indicators increasing and confirm the Group’s growth path, uninterrupted since its return to the stock exchange in 2016, thanks to the strength of its performance and the effectiveness of the strategic choices made over time.

In 2023, € 906.5 million of investments were made (an increase of 11.3% compared to 2022), which made it possible to lay an additional 965 km of pipelines (of which 724 km are in operation). The contribution of activities in Greece was significant, where, against an total investment of around € 106.7 million, some 600 kilometres of gas pipelines were also laid.

The adjusted EBITDA of 2023 amounted to € 1,183.7 million (+9.3% compared to 31 December 2022) and adjusted net profit attributable to the Group was € 439.6 million (+11.1% compared to 31 December 2022). This results in the proposed distribution of a dividend per share of € 0.352, equivalent to a 65% payout, up 11% from 2022, and higher than the 4% CAGR floor of 2022.

Cash flow from operating activities, net of the ESCo contribution, amounted to € 808.5 million and fully offset investments in gas distribution.

Net debt excluding IFRS effects reached € 6,555.2 million, up from last year mainly due to the increase in working capital related to ESCo’s Superbonus activities, which will be reabsorbed in the coming years.

With reference to sustainability objectives, the many training, innovation, digitisation and energy efficiency initiatives implemented in both the industrial and civil sectors have allowed the Group to continue on its path towards reducing net energy consumption (-11.6%) and the ratio of fugitive emissions to kilometres of inspected network (-19.6%), even against the inclusion of the Enaon Group’s contributions for 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.

Focus Box icon

Investor Relations

Via Carlo Bo, 11
20143 Milano
Tel. +39 02 8187 2175
Email: investor.relations@italgas.it

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 next Shareholders’ Meeting will be held on May 6, 2024.

 

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 www.emarketstorage.com 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.

Last update: