Italy's Italgas reports 33% profit surge driven by 2i Rete Gas acquisition
04/03/2026 07:16
March 4 (Reuters) - Italian gas distributor Italgas IG.MI reported on Wednesday a full-year net profit of 674.5 million euros ($782.0 million), up 33.1% compared to 2024, driven by the integration of 2i Rete Gas and initial cost benefits from it, after the acquisition was finalised in July. "We built about 1,000 kilometres of new pipelines and started the digital upgrade of the networks and plants acquired with 2i Rete Gas," CEO Paolo Gallo said about the deal that put Italgas among the leading gas distributors in Europe. Adjusted 2025 EBITDA rose 39.4% to 1.88 billion euros, with revenue growing 45.7% to 2.5 billion euros. Italgas proposed an annual dividend of 0.432 euro per share, up 13.3% compared to last year's payout. It outlined technical investments of 1.20 billion euros for 2026. Italgas' net financial debt was 10.9 billion euros at the end of the year. ($1 = 0.8625 euros) (Reporting by Mirko Miorelli in Gdansk; Editing by Milla Nissi-Prussak) ((laura.contemori@thomsonreuters.com; +48 58 769 66 30))