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Italgas posts record margin as EBITDA and profit rise
First-half adjusted EBITDA reached €1.07 billion, while operating costs fell 6.4% despite absorbing 2i Rete Gas.
Italgas reported first-half results showing margin and profit growth alongside expanding earnings power from its regulated gas distribution model, according to Yahoo Finance.
The company said adjusted EBITDA totaled €1.07 billion, up 25% year over year, with adjusted revenue rising to €1.32 billion, up 17.5%. Adjusted net profit increased 27.3% to €398.6 million, and CEO Paolo Gallo said the margin was the highest in company history.
Yahoo Finance also linked the performance to Italgas' acquisition of 2i Rete Gas, completed last year, saying the integration has helped drive cost improvements. The outlet reported that Italgas has already banked about 42% of its 2032 synergy target, taking in roughly €130 million in savings in the first six months.
Beyond cost synergies and automation initiatives, the company is pursuing additional regulated assets via ATEM tenders, Yahoo Finance said. It reported that it has won about 80% of the tenders it has entered since 2020, while keeping full-year guidance and its long-range strategic plan unchanged.