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Italgas and Naturgy strengthen cooperation on gas networks, innovation and the energy transition

Milan, July 9, 2026 – Italgas, Italy’s and Europe’s leading gas distribution operator, and Nedgia (Naturgy Group), Spain’s leading natural gas distribution company, have signed a Memorandum of Understanding aimed at strengthening cooperation in strategic areas for the evolution of energy infrastructure: renewable gases, technological and digital innovation, artificial intelligence, sustainability, and procurement.

The agreement was signed by Paolo Gallo, Chief Executive Officer of Italgas, and Raúl Suárez Álvarez, Chief Executive Officer of Nedgia, confirming the two companies’ commitment to establishing a structured framework for dialogue and knowledge sharing on some of the key challenges facing the European gas sector.

Against a backdrop of accelerating decarbonisation targets and the growing importance of energy infrastructure for the security and competitiveness of the energy system, cooperation among industrial operators represents a key lever to enhance the value of existing networks, foster the integration of renewable gases, and develop technological solutions capable of making gas distribution increasingly digital, efficient, and sustainable.

“International dialogue and collaboration with leading partners are essential elements of our growth and innovation journey,” said Paolo Gallo, Italgas CEO. “Together with Nedgia, we share a common vision of the strategic role that gas distribution networks play in the energy transition. These infrastructures must become increasingly digital, resilient, and capable of accommodating growing volumes of renewable gases. This agreement further strengthens our commitment to developing innovative solutions that support decarbonisation and enhance the competitiveness of the European energy system.”

“This agreement provides a valuable framework for strengthening knowledge sharing, innovation, and cooperation between two of Europe’s leading gas distribution

 

operators. Gas networks have a decisive role to play in the energy transition, particularly by enabling the integration of renewable gases such as biomethane into existing infrastructure. Together with Italgas, we aim to accelerate solutions that support decarbonisation and contribute to a more sustainable, secure, and efficient European energy system,” said Raúl Suárez Álvarez, Chief Executive Officer of Nedgia.

“Italy and Spain share common challenges in ensuring energy security and advancing the transition towards a more sustainable energy system, and addressing them requires commitment at multiple levels. Agreements between companies from our two countries give concrete substance to the bilateral relationship that, at parliamentary level, we work every day to strengthen through dialogue on the issues that most directly affect our citizens, foremost among them, the finalisation of the agreement on dual citizenship. Companies, parliaments, and communities, each within their own sphere, are working together towards the same goal,” said Federica Onori, Chair of the Italy–Spain Inter-Parliamentary Union.

Through the Memorandum of Understanding, Italgas and Nedgia intend to develop their cooperation across four priority areas: the evolution of the regulatory framework and renewable gas markets; technological and digital innovation, including artificial intelligence applied to network management; sustainability and the strengthening of emissions measurement and management systems; and the evolution of sustainable procurement models throughout the value chain.

The new agreement forms part of Italgas’ broader international cooperation strategy with leading industry players, aimed at pooling expertise, technologies, and industrial vision to contribute to the sustainable and digital transformation of energy infrastructure.

Global crisis, local energy: Italgas’s investments for the Italian North-East regions

A Digital Reverse Flow plant capable of making the network’s capacity to accept biomethane virtually unlimited was inaugurated today in Gazzo Veronese (VR) – a zero-mile renewable gas that is strategic for strengthening energy security, economic competitiveness and sustainability

Gazzo Veronese (VR), 19 June 2026In recent years, the global energy landscape has imposed a clear direction: increasing local production of renewable energy, reducing dependence on imports, and strengthening the competitiveness and resilience of energy systems. It is within this perspective that Italgas’s investments are positioned, through which the company is transforming its networks – digital, widespread and flexible – to accommodate growing shares of renewable gases.

This is a path that has found one of its main areas of development in the North-East, thanks to a significant investment plan that reached 180 million euros in 2025 and is set to exceed 200 million euros this year. This commitment, in addition to further strengthening energy security and service efficiency and supporting the decarbonisation of consumption, is also contributing to employment growth in the area.

It is within this context that the inauguration of the Digital Reverse Flow plant in Gazzo Veronese takes place. This is a cutting-edge technology that makes the local network’s capacity to accept biomethane virtually unlimited – a strategic renewable gas for addressing the three dimensions of the energy “trilemma”: security of supply, affordability for households and businesses, and environmental sustainability.

The ribbon-cutting ceremony was attended by the Mayor of Gazzo Veronese, Stefano Negrini, the Chief Executive Officer of Italgas Reti, Pier Lorenzo Dell’Orco, and the Chief People, Innovation & Transformation Officer of Italgas, Peter Durante.

“The development of biomethane is a strategic direction for the country,” commented Pier Lorenzo Dell’Orco, CEO of Italgas Reti. “More green gas, produced locally, means greater energy security, more competitiveness for the economic system and, at the same time, lower CO2 emissions. The Gazzo Veronese plant moves in exactly this direction: strengthening the network’s capacity to accommodate incremental shares of biomethane and making it available not only locally but to the entire territory. In this way, through our networks, we also help to further enhance the agricultural and industrial excellence of this area, which becomes an energy resource. It is a circular economy model that addresses the management of organic waste and the transition towards renewable sources”. 

Reverse flow technology acts on the network by enhancing its capacity to accept growing shares of biomethane. When local production exceeds demand, the plant compresses the excess biomethane and sends it to the regional and national transmission network, making it available wherever there is demand to be met.

The new infrastructure, which required an investment of approximately 2 million euros, also serves as a hub, as it receives biomethane from four different production plants which, once fully operational, will feed into the network a combined total of up to 12 million cubic metres of gas per year (produced mainly from agricultural biomass, livestock effluents and agri-food by-products). This is a volume capable of meeting the average annual consumption of around 13,000 households.

Like the rest of the Italgas network, the Veronese plant will also be controlled through DANA (Digital Advanced Network Automation), the company’s proprietary network automation and remote-control system, which enables remote management, real-time monitoring and the automatic operation of facilities.

Gazzo Veronese is not the only network integrated with Digital Reverse Flow technology: the Italgas network also includes plants in Avetrana (TA) and Terranova dei Passerini (LO), with two further plants currently being built in Poggio Rusco (MN) and Ostellato (FE).

In recent years, the Italgas Group has strengthened its presence in the North-East of the country by expanding the scope of its concessions, investing in new offices and creating stable employment. The Group currently has around 800 employees; between 2025 and the first half of this year, it has already brought on board 75 new professionals and aims to hire a further 30 by December, with particular interest in the roles of Plant and Distribution Operator and Plant and Distribution Technician.

 “Behind every investment in infrastructure development, there are people, skills and professional expertise that make it possible and concrete,” stated Peter Durante, Chief People, Innovation & Transformation Officer of Italgas. “A plan such as the one Italgas is carrying out in the North-East regions cannot be separated from a significant commitment by the Group on the employment front. We want to continue attracting talent, developing qualified professionals and offering growth paths consistent with the evolution of our sector. Managing networks that are increasingly digital, intelligent and sustainable requires new skills, rooted in the territories in which we operate. Our people are acquiring increasingly solid and growing technical expertise in gas distribution, which is increasingly based on digital technologies and skills – areas in which our Group is recognised as an international centre of excellence, including in training. It is also through this kind of commitment that Italgas contributes to the growth of communities and confirms its role as a company strongly connected to the development of the territory.”

In Torre de’ Passeri (Pescara), not just natural gas. A hydrogen blend coming to the network soon

An innovative project set to launch in the coming weeks, accelerating the energy transition

Torre de’ Passeri (PE), 16 June 2026 – The operational protocol between Italgas, the Ministry of Environment and Energy Security (MASE), the Italian Gas Committee (CIG) and Società Gasdotti Italia (SGI) was signed today for a new major decarbonisation project that makes strategic use of existing infrastructure. The initiative will cover a portion of the territory of Torre de’ Passeri (PE), where a blend of natural gas and hydrogen will be injected into the gas distribution network, initially at 10% and subsequently at 20%.

More specifically, the project will involve approximately 5 kilometres of gas pipelines serving around 220 end users, who will face no additional costs on their bills and will not need to change their consumption habits. The natural gas-hydrogen blend is intended for standard domestic and civil uses such as cooking, heating and hot water production.

Any technical adjustments to internal systems and appliances will be covered by Italgas, while on the equipment side the project involves industrial partners Ariston, Glemgas and Baltur, leaders in their respective market segments. The project also benefits from the scientific contribution of the Politecnico di Milano and the Politecnico di Torino.

The initiative was developed through a gradual process: beginning with theoretical modelling and laboratory analysis, then moving to a “hydrogen house” model to assess real-scale operating conditions. Following validation of the results, the initiative was extended to the territory.

Throughout the project, Italgas will ensure continuous supervision, monitoring and oversight of all activities to guarantee full safety and to collect the data needed for a thorough and structured technical analysis of the findings.

Società Gasdotti Italia will be responsible for the blending of natural gas and hydrogen and for conveying the mixture to the distribution network, ensuring constant and centralised infrastructure monitoring through the deployment of state-of-the-art IoT (Internet of Things) communication systems.

“The Ministry has long promoted and supported projects for injecting hydrogen blends into isolated sections of distribution networks in Italy, in close collaboration with distribution operators and CIG,” said Marilena Barbaro, Director General of MASE. “The first pilot project in Emilia-Romagna has already concluded with positive results. With the outcomes of the Sestu and Torre de’ Passeri programmes, we could have a first comprehensive picture covering the different realities of Italian distribution networks.”

“The Torre de’ Passeri project is an example of research that is essential for any technological evolution in the sector,” stressed Stefano Cagnoli, Director General of CIG. “Since its founding in 1953, CIG’s mission has been to provide technical support for the evolution of the gas industry, with particular focus on safety, infrastructure efficiency and the innovations required by the decarbonisation of the energy sector. In this context, the framework agreement signed with MASE in November 2024 for the development of technical studies and research on natural gas and hydrogen blends for network injection has already enabled three operational projects to be launched, including Torre de’ Passeri. The results will be shared with the relevant authorities and institutions, thereby supporting the evolution of national regulation, a fundamental step for the consolidation of the sector.”

“We are proud that Torre de’ Passeri has been chosen for a project of national significance that we hope will serve as a model for other communities. Injecting a natural gas and hydrogen blend into the network allows our community to benefit directly from decarbonisation, reducing emissions with no impact on citizens’ daily habits,” said Giovanni Mancini, Mayor of Torre de’ Passeri.

“In recent years, Italgas has developed significant expertise in the production and use of hydrogen,” noted Pier Lorenzo Dell’Orco, CEO of Italgas Reti. “Injecting it into gas distribution networks delivers multiple benefits: a reduction in CO₂ emissions proportional to the share of hydrogen in the distributed blend, the enhancement of existing networks without the need for additional investment, and the assurance of energy continuity and security. Our experience demonstrates that the transformation of the energy system can be achieved by building on what already exists, innovating in a targeted way and laying the foundations for an increasingly sustainable, low-emission economy.”

“This project represents one of the first initiatives in Italy involving blending up to 20% that engages the entire gas infrastructure chain, from transport to distribution through to end customers. This is a significant step because it allows us to assess not only how current infrastructure performs, but also how domestic appliances behave with a natural gas and hydrogen blend under real conditions. For SGI, the initiative is also part of the process of upgrading its own network to make it progressively compatible with the transport of hydrogen up to 100%,” said Raffaele Maiello, Chief Operating Officer of Società Gasdotti Italia.

The initiative is part of a broader journey in which Italgas plays a leading role in the development and integration of highly sustainable energy vectors. Both Torre de’ Passeri and Hyround fit within this journey: Hyround is Italy’s first plant for the production of green hydrogen directly connected to an urban distribution network, inaugurated in recent months in Sestu (Cagliari). With the Abruzzo project, Italgas further expands its expertise in the use of hydrogen across different infrastructure contexts, consolidating a pragmatic and sustainable model of energy transition.

Enaon: Gianfranco Amoroso appointed Chief Executive Officer

Milan, 1 June 2026 – Italgas informs that the Board of Directors of Enaon, the Group’s company operating in the gas distribution sector in Greece, has co-opted Gianfranco Amoroso and appointed him as the company’s Chief Executive Officer.

Gianfranco Amoroso boasts extensive experience in the financial sector and in M&A. He has been with Italgas since 2016 and currently holds the position of Head of International Operations.

Enaon holds natural gas distribution licences in 145 municipalities, of which 115 are in operation, serving approximately 650,000 active customers.

Italgas and I3P launch a new call for startups for the future of energy networks

The open innovation initiative seeks advanced solutions and technologies to continue the digital transformation of networks in support of the transition towards a zero-emission economy.

Turin, 26 May 2026 – The Italgas Group and the Innovative Companies Incubator of Politecnico di Torino (I3P) present a new initiative, entitled “Shaping the Future of Energy Networks“, to explore the national and international innovation ecosystem, with the aim of gathering and analysing advanced solutions and technologies capable of continuing to contribute to the digital transformation of energy infrastructures.

Technological innovation developed by research teams and young companies is indeed an important enabling factor for the further evolution of large infrastructures. The new call launched by Italgas and I3P, within the framework of the open innovation programme “Ideas 4 Italgas” initiated in 2020, aims to identify project proposals capable of contributing to the strengthening of the resilience, intelligence and security of gas and water networks, as well as to the transition towards zero or low-emission energy systems, fostering digitalisation, operational efficiency, the integration of renewable gases and sustainable long-term decarbonisation models.

The best candidate projects will have the opportunity to engage with Italgas and the Group’s subsidiaries, as well as to receive a range of potential benefits and support for their further development on the market. Participation in the initiative offers, in fact, the possibility of obtaining resources from Italgas to develop a Proof-of-Concept (PoC), i.e. a first concrete application aimed at verifying the feasibility and effectiveness of the proposed solution in the field; but also of benefiting from Italgas Mentorship, to explore the possible integration of the product or service into business processes, as well as of entering one of I3P’s incubation programmes aimed at refining the entrepreneurial knowledge and skills necessary for the maturation of the project, supporting the search for external funding and fostering their networking. The ultimate goal is to guide the most promising solutions towards progressive large-scale adoption within the Italgas Group, facilitating their validation in the sector.

The call focuses on two main areas of interest. The first is “Resilient Grid“, solutions to make gas and water distribution networks smarter, safer and more resilient to external events and self-adaptive to operating conditions, through the use of both digital technologies – such as artificial intelligence (AI) and advanced sensors – and new construction methodologies. The second area, “Energy Transition“, encompasses the optimisation of resource use and the transition towards low-emission energy systems, enabling the development of decarbonisation technologies.

The initiative is open to working groups and incorporated companies. To be eligible, candidate projects must be at one of three stages of maturity: “Idea“, capable of being translated into a prototype by 2027; “MVP“, i.e. a prototype capable of opening new market segments and opportunities; “Products on the market“, meaning products and services already commercialised or ready for launch.

Participation in the initiative is free of charge: project applications, in Italian or English, must be submitted on the Ideas 4 Italgas website by the deadline of Friday, 31 July 2026. All applications received will be evaluated by October, and the final award ceremony for the winners will be held in Turin in November.

“In recent years our Group has undergone a profound transformation, grounded in the digitalisation of assets, technological innovation and, of course, a concrete commitment to serving the energy transition”, said Leonardo Ambrosi, Group Innovation Officer at Italgas. “In this context, Open Innovation has established itself not only as an enabler of development, but as a strategic driver capable of accelerating change and generating value. With this new call, we further strengthen this approach, once again opening up dialogue with the external ecosystem to capture new ideas, expertise and solutions capable of contributing to the sustainable growth of the Italgas Group.”

“We are very pleased to have the opportunity to collaborate once again with the Italgas Group, an international organisation that has placed technological evolution and a commitment to sustainability at the heart of its strategic vision”, commented Giuseppe Scellato, President of I3P. “This year too, as in 2021 and 2024, the open innovation initiative by Italgas and I3P will offer startups and teams of innovators a concrete opportunity for direct engagement with a major industry player, possibilities for joint experimentation and entrepreneurial growth, with the expert guidance of the incubator’s specialists.”

 


Italgas S.p.A.

Italgas is a Network Tech Company, leader in the sectors of gas distribution, water services, energy efficiency and IT. Following the acquisition of 2i Rete Gas, its main competitor, Italgas has become the leading operator in gas distribution in Europe, managing a network of over 150,000 kilometres and more than 12 million customers in Italy and Greece. Through its subsidiaries in the water sector, the Group provides services, directly and indirectly, to 6.3 million people, equal to 10% of the Italian population, primarily in the Lazio, Sicily and Campania regions. Founded in 1837, Italgas is recognised as the company that brought gas into Italian homes, contributing significantly to the economic and social development of the country. Today Italgas is a company looking towards the future, with clear growth and development objectives. It is implementing an ambitious investment plan to expand its services and improve efficiency through digital technologies. These innovations not only optimise network management, but also prepare the gas infrastructure for the integration of renewable gases such as biomethane, synthetic methane and hydrogen.

For further information: www.italgas.it

 

I3P – Incubatore del Politecnico di Torino S.c.p.a.

The Innovative Companies Incubator of Politecnico di Torino (I3P) supports the creation and development of innovative startups with high technological intensity and growth potential, founded both by university researchers and students, and by external entrepreneurs, providing strategic consulting services, coaching, mentoring, fundraising support and workspaces. Founded in 1999, I3P is a consortium company with share capital, with shareholders including the Politecnico di Torino, Fondazione LINKS, the Turin Chamber of Commerce, Finpiemonte, the Metropolitan City of Turin and Fondazione Piemonte Innova; to date it has incubated over 400 startups. I3P’s mission is to support the entrepreneurship ecosystem, with the objective of generating economic development and employment in innovative industrial supply chains. I3P adopts a strategy of collaboration with institutions and private entities engaged in research and higher education, technology transfer services, innovation financing, and internationalisation towards new markets.

For further information: www.i3p.it

Italgas and Tokyo Gas Network step up innovation and sustainability of gas networks

Tokyo, 12 May 2026 – Italgas and Tokyo Gas Network today renewed, at the Italian Embassy in Tokyo, the Memorandum of Understanding (MoU) aimed at strengthening cooperation in the strategic areas of gas distribution and at fostering the development of joint projects. The Memorandum was signed by Paolo Gallo, CEO of Italgas, and Satoshi Tanazawa, CEO of Tokyo Gas Network, in the presence of the Italian Ambassador to Tokyo, Mario Vattani.

“We are very pleased to host at the Italian Embassy in Tokyo the renewal of the collaboration between Italgas and Tokyo Gas Network, on the 160th anniversary of bilateral diplomatic relations,” – declared the Italian Ambassador to Japan, Mario Vattani -. “In the current geopolitical context, this Agreement represents a further step forward towards greater energy security and contributes to strengthening supply chains, in the spirit of the Special Strategic Partnership announced between the two Governments in January 2026 and in line with the directives of the Italy-Japan Business Group, of which Italgas is a founding member”.

“We are honored to have reached an agreement to further deepen our strategic partnership with Italgas, the leading European gas distributor – said Satoshi Tanazawa, CEO of Tokyo Gas Network –. Their advanced expertise in digitization will be a powerful driver in enhancing our operational capabilities. By continuously exchanging our respective know-how, we aim to drive operational efficiency through improved productivity, while fulfilling our mission of ensuring a stable energy supply and maintaining safety. Through this collaboration, we are committed to achieving the sustainable growth of our network business and contributing to the evolution of a resilient energy infrastructure”.

“International dialogue and partnerships with leading players are essential pillars of our growth path – said Paolo Gallo, CEO of Italgas -. The renewal of the agreement with Tokyo Gas Network consolidates a valuable relationship and enables us to further accelerate the development of increasingly digital, resilient and sustainable networks. In particular, this collaboration allows us to leverage complementary expertise in key areas such as advanced infrastructure digitalisation, the strengthening of network resilience also in complex environments, and the evolution of grids to accommodate growing volumes of renewable gases”.

Through the Memorandum, the two companies will continue to share expertise and best practices to foster innovation, resilience and sustainable development of gas distribution networks. The cooperation will focus in particular on:

  • Infrastructure resilience and safety: exchange of know-how to enhance the networks’ capacity to respond to extreme events and complex operating conditions.
  • Technological innovation and digitalisation: development and deployment of advanced technological solutions to optimise network management and improve operational efficiency.
  • Supply chain: cooperation on advanced procurement models to enhance performance, quality and sustainability.

Italgas: Sustainability Yearbook inclusion confirmed

Milan, 18 February 2026 – Italgas has been included for the seventh consecutive year in the Sustainability Yearbook by S&P Global, the annual publication that brings together the global sustainability leaders.

 

For 2026, Italgas has confirmed its position among the top performers- with a score of 92/100- by securing a place in the “Top 1% S&P Global CSA Score” category, based on the results of the 2025 Corporate Sustainability Assessment (CSA 2025). Out of more than 9,200 companies assessed, 848 were selected for inclusion in this edition.

 

The recognition adds to the major sustainability achievements recorded by Italgas over the past 12 months, such as the inclusion in the FTSE4Good index series, the confirmation of the inclusion in CDP’s “A-List” for Climate Change, the AA rating by MSCI ESG Ratings, as well as the “Low Risk” rating from Sustainalytics, indicating a low level of exposure to material financial impacts from ESG factors.

Italgas confirmed in the CDP’s “Climate A list”

Milan, 10 December 2025 – Italgas has been confirmed for the fourth consecutive year in the prestigious “A List” for Climate Change compiled by the non-profit organization CDP (formerly Carbon Disclosure Project), which includes global leading companies for transparency of information and performance in the fight against climate change.

Italgas also participated in the “Water” section of the questionnaire, obtaining a “B” rating.

In 2025, CDP assessed more than 20,000 companies worldwide, investigating issues related to climate change, forests, and water security.

The result achieved demonstrates the validity of the initiatives set out in the Strategic Plan, confirming the company’s concrete commitment in the fight to climate change and in safeguarding water resources. CDP’s evaluation considers the completeness of information, awareness and management of environmental risks, the presence of ambitious targets, as well as the demonstration of best practices associated with environmental leadership.

Enaon (Italgas Group): €1 Billion Investment Plan by 2031 to Accelerate Greece’s Energy Transition

Athens, December 4, 2025 – Italgas reaffirms its commitment to Greece’s energy development and, through its new 2025–2031 Strategic Plan, has approved €1 billion in investments aimed at expanding and digitalising the country’s gas distribution network. The implementation of the Plan is entrusted to Enaon, the company responsible for gas distribution in Greece.

The Plan includes the extension of distribution networks into areas not yet served, creating the conditions to foster the development and integration of renewable gases – such as biomethane – in order to accelerate the decarbonisation of energy molecules. By 2031, over 2,500 km of new networks are expected to be built, more than 2,200 km of which at low pressure – 38% co-funded – with the remainder at medium pressure, primarily intended for supplying gas to industrial customers.

Alongside infrastructure development, part of the investment is earmarked for the advanced digitalisation of assets and operational processes. The Plan provides for the integration of Group ICT platforms, the adoption of new solutions for field service management, and the application across Enaon’s network of artificial intelligence technologies already deployed in Italy.

Additional enhancements are also planned for the Athens Command and Control Centre, already operational, which ensures continuous monitoring and remote management of the infrastructure. New supervision systems and sensors will be installed at pressure regulation stations as well. The digital transformation plan also includes the completion of the programme to replace traditional meters with “H2-ready” smart meters, due to begin in the third quarter of 2026.

“With Enaon we are building in Greece a fully digital infrastructure, monitored and managed in real time through the new Athens Command and Control Centre. The integration of the DANA platform and the installation of ‘H2-ready’ smart meters will enable the rapid deployment of renewable gases. This pathway is supported by a significant investment plan that strengthens our commitment to the safety, sustainability and competitiveness of the country’s energy system,” said Paolo Gallo, CEO of Italgas.

 

Thanks to the recent activation of the network, the areas in Western Macedonia,  Central Macedonia  Central Greece, Western Greece, and Epirus (Florina Kastoria,  Veria, Alexandria, Karpenisi, Amfissa, the industrial zone of Patras and within December 2025 Industrial Zone of Epirus are now steadily supplied with natural gas. This marks an important step in the implementation of co-funded projects. A significant increase in customers is expected, rising from 639,0009 in 2025 to nearly 1 million by 2031. This growth will be accompanied by improved service quality, greater network efficiency and a substantial contribution to the country’s energy security.

Italgas: First Cycle of Employee Share Ownership Plan Completed – Two Out of Three Employees Participate

Milan, 6 November 2025 – The first cycle of “IGrant,” the Employee Share Ownership Plan launched by Italgas for the 2025–2027 period, has concluded with the participation of nearly two out of three employees. The program enables Group employees to become shareholders of the Company and directly contribute to value creation. Participation reached 62.8%.

“The success of the Plan has exceeded our expectations,” commented Paolo Gallo, CEO of Italgas. “It is among the strongest results recorded for initiatives of this kind, especially in the launch year, and clearly reflects the trust our people place in the Group and in our ability to deliver.”

Participation in “IGrant” was broad across age groups, peaking at 77% among employees aged 31 to 40. In terms of professional categories, participation exceeded 68% among office staff and managers, while reaching approximately 50% among operational staff.

Following the positive outcome of this first cycle, the Plan will be extended across all Group companies in 2026 and 2027.