Italgas Hikes Investment Allocation Under New Strategy to EUR13 Billion
Italgas (IG.MI) unveiled on Tuesday an upsized total investment allocation of 13 billion euros under its new strategic plan for the years 2026 through 2032.The new allocation is 14.6% higher than the Italian gas distributor's previous seven-year strategy. It includes 8.3 billion euros for gas infrastructures in Italy and 2.4 billion euros for future government tenders of gas distribution concessions in the country.The company also earmarked 1 billion euros for the expansion of its gas distribution network in Greece, 800 million euros for investments in the water and energy efficiency sectors, and 500 million euros for the pursuit of mergers and acquisitions opportunities in the gas distribution sector."The 13 billion euros of investments will make our network even smarter, more widespread and flexible, ready to accommodate also green molecules and support an energy system increasingly exposed to international instability and commodity market volatility," commented Chief Executive Officer Paolo Gallo.The new strategy is expected to generate 280 million euros of total efficiencies by 2032, including 120 million euros in revenue from incremental digitalization investments.Italgas affirmed its guidance for full-year 2026 of adjusted net profit attributable to the group between 740 million euros and 760 million euros. It is targeting revenues of 3.4 billion euros for 2029 and 4 billion euros for 2032, as well as a more than 9% compound annual growth rate for adjusted EPS between 2025 and 2032.Shares of the company decreased nearly 2% in early trading.
