Established on 1 June 2016, Italgas operations stem from a partial and proportional demerger from Snam and the company was listed on Borsa Italiana’s FTSE MIB index from 7 November 2016.


In order to enable a homogeneous comparison between the Italgas Group data for 2017 and the corresponding figures of 2016, the 2016 figures referring to the aggregate composed of Italgas S.p.A., from the date of its establishment (1 June 2016), and the companies Italgas Reti S.p.A., Napoletanagas S.p.A. and ACAM Gas S.p.A. from 1 January 2016.

As a group, today we primarily operate in gas distribution and metering, only residually in water distribution and sales, and only for a very short time in the energy efficiency sector following the acquisition of Seaside. Owing to the irrelevance of the water business area and the recent entry into energy efficiency, as of today a single operations sector pursuant to IFRS 8 has been identified: gas distribution and metering.

The financial figures presented here reflect these key business areas.

Key financial figures


 (€ million) 2016 2017
 Total revenues (*) 1.007,9 1.124,2
 EBITDA (**) 661,6 776,2
 Adjusted EBITDA (**) 684,4 781,2
 EBIT (**) 336,0 417,9
 Adjusted EBIT (**) 358,8 422,9
 Net profit 119,2 292,8
 Adjusted net profit (**) 221,1 296,4

(*) Revenue from the construction and upgrading of distribution infrastructure entered in accordance with IFRIC 12 and recognised in an amount equal to the costs incurred (¤315.5 million and ¤479.7 million respectively in 2016 and 2017) is shown as a direct reduction of the respective cost items.

(**) The reported and adjusted versions of EBITDA and EBIT, and the adjusted net profit, are not measures allowed by IFRS. For their calculation, reference should be made to the chapter “NON-GAAP Measures” in this report.



  (€ million) 31.12.2016 31.12.2017
Net invested capital as at 31 December 4.681,7 4.905,9
Shareholders’ equity 1.064,3 1.185,6
Net financial debt 3.617,4 3.720,3


The figures from before 2016 can be found in the listing prospectus.

ultimo aggiornamento Wed Dec 12 16:00:51 UTC 2018