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Italgas presents its 2018-2024 strategic plan
Data di pubblicazione:
Milan, 13 June 2018 - Chief Executive Officer Paolo Gallo is today presenting to analysts and investors the Italgas Group's Strategic Plan for the 2018-2024 period, which was approved yesterday by the Board of Directors chaired by Lorenzo Bini Smaghi. Italgas' growth objectives are based mainly on a significant programme of investment, significantly increased compared to the previous Plan, in a market that is still fragmented and which offers various opportunities for business development, leadership consolidation and the creation of value for shareholders. Highlight
- Investment plan, including M&A, of EUR 4 billion
- Additional investments of EUR 1.6 billion in the acquisition of third-party networks following gas tenders
- Programme to digitise networks and processes and launch Digital Factory in 4thQ 2018
- Dividends up to 4% per annum with upside potential to 60% of consolidated net income
- Investment plan (without tenders) of EUR 4 billion
- Consolidated Rab: the implementation of the planned organic investments will increase the consolidated Rab by an average of 3.2% per annum over the period of the Plan and by an average of more than 5.3% per annum, considering the expected evolution of the tenders.
- Operational efficiency: continuous focus on the optimisation of operating costs with the aim of improving the efficiency targets set by the Regulator.
- Capital structure and financial efficiency: constant focus on optimisation of debt structure, with the objective of fully covering, thanks to the significant operating cash flow, both the investment plan and the return on risk capital guaranteeing also an appropriate financial flexibility to support development.
- Dividend policy: for the years 2018-2019-2020 a dididend will be distributed equal to the higher of (i) the amount resulting from the 2017 DPS (€0.208) increased by 4% per annum and (ii) the DPS equivalent to 60% of the consolidated net income.