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Citi upgrades Italgas and raises price target sharply

Italgas shares rose 3.1% to €10.55 after Citi upgraded its recommendation from "Neutral" to "Buy" and raised the 12‑month price target from €10.00 to €11.60. Citi cited accelerated tenders for gas distribution networks in 2026 and improved synergies from the acquisition of 2i Rete Gas, which makes Italgas the largest gas network operator in Europe. In addition, a capital markets day on June 23 could provide further positive momentum for higher long‑term financial targets, boosting investor sentiment. » More on de.investing.com
Snam Rete refinances Italgas-backed convertible with new green bond

Snam Rete has completed the refinancing of its €500 million convertible bond (maturity 2028), which is secured by Italgas shares, and repurchased 98.9% of the issue. The position was replaced by a five-year green bond maturing in 2031. The new bond carries a fixed coupon of 1.75% (previously 3.25%) with semiannual interest payments; the first payment is on 14 July 2026. » More on de.investing.com
Italgas H1 2025: acquisition of 2i Rete Gas drives adjusted profit up 31%

Italgas reported a 31.1% increase in adjusted net profit for the first half of 2025 to €316.6m following the early consolidation of 2i Rete Gas. Adjusted total revenues rose 29.2% to €1,126.7m and EBITDA increased 27.8% to €857.5m; operating cash flows covered €495.1m of investments. The takeover expanded the network by 86% to over 156,000 km and the customer base to around 12.9 million; Italgas confirmed its full-year guidance and is targeting synergies of up to €200m. Risks remain in the form of higher debt (net financial debt approx. €10.97bn), regulatory uncertainty and increased Scope‑1/2 emissions. » More on de.investing.com
Italgas reports strong revenue and profit growth in the first half of 2025, shares react moderately

Italgas recorded revenue growth of nearly 30% in the first half of 2025 and a significant increase in adjusted EBITDA by 27.8% to €178.8 million. Despite this positive performance, the share price slipped slightly by 0.56%, reflecting mixed market reactions and regulatory uncertainties in the Italian gas market. The company remains a market leader with a focus on innovation and digitalization, and is preparing for future regulatory changes. » More on de.investing.com
Italgas reports increase in adjusted EBITDA to €857.5 million for H1 2025

Italgas achieved an adjusted EBITDA of €857.5 million in the first half of 2025. Adjusted net profit was €316.6 million and revenue reached €1.13 billion, while technical investments amounted to €495.1 million. Net financial debt stood at €10.97 billion as of June 30, 2025. » More on de.investing.com

Historical dividends Dividends

All dividend metrics All metrics

In 2026, ITALGAS S.P.A. O.N. has already paid €0.43 in dividends. The last payout was in May.

Financials

In the last quarter, ITALGAS S.P.A. O.N. had revenue of €1.93B and net profit of €386.3M

(EUR)	June 2026	YoY
Revenue	1.93B	-
Gross profit	1.38B	-
Net profit	386.3M	-
EBITDA	1.07B	-

Fundamentals

Metric	Value
Market capitalization	€9.42B
Number of shares	1.02B
52-week high/low	€11.30 - €8.05
Dividend yield	4.60%
Dividends TTM	€0.43
Beta	0.70
P/E ratio	11.14
PEG ratio	0.18
P/B ratio	2.49
P/S ratio	2.68

Company profile

Italgas S.p.A., together with its subsidiaries, engages in the distribution of natural gas in Italy. It is involved in the transportation of gas through local pipeline networks from the delivery points at the reduction and measurement stations interconnected with the transport networks to the points of final delivery to households, enterprises, etc. The company operated a distribution network of 74,397 kilometers. It also engages in metering activities; and distributes and sells water. The company was founded in 1837 and is based in Milan, Italy.