The strategy that drives Italgas has not changed: to create value, the priorities are still the achievement of new efficiencies and the deployment of the investment plan.
Even in the first half of 2020, Italgas has therefore continued to invest to fuel future growth.
Operating investments reached the record amount of 369.5 mn€, with the aim to develop and renew the network, as well as continue the digital transformation. This impressive level of investments was achieved despite the restrictions caused by the lockdown and marks a new record high for the group.
Moreover, through the allocation of resources coming from its cash generation, Italgas is always ready to play a key role by investing both in M&A deals and in the tenders for gas concessions, within a sector that in Italy has not found adequate concentration so far.
In the semester that has just ended, Italgas has been awarded the concession of the Belluno Atem, which brings 40 thousand new redelivery points immediately and additional 38 thousand in the future.
Even M&A continued with the acquisition of 15% of Reti di Distribuzione from AEG Coop. The Company operates in 49 municipalities in Piedmont, concentrated in the Ivrea area.