Gas distributor Italgas reports nearly 28% rise in half-year core profit
24/07/2025 07:00
July 24 (Reuters) - Europe's biggest gas distributor Italgas IG.MI said on Thursday its adjusted core earnings rose 27.8% in the first half of 2025, driven by the acquisition of smaller rival 2i Rete Gas. Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) were 857.5 million euros ($1.01 billion) in the six-month period. Adjusted net profit stood at 316.6 million euros, up 31.1% year-on-year. Italgas said its net debt was 10.97 billion euros at the end of June, up from 6.56 billion at end-March, following the 2i Rete Gas acquisition. The company was merged into the Italgas Reti unit as of July 1. ($1 = 0.8492 euros) (Reporting by Laura Contemori in Gdansk; Editing by Milla Nissi-Prussak) ((Laura.Contemori@thomsonreuters.com;))