Italgas to invest €13 billion to increase focus on AI
Italgas Announces Major Investment and Strategic Shift
Overview of Investment Plan
ROME, June 23 (Reuters) - Europe's largest gas distributor Italgas will invest €13 billion ($14.85 billion) through 2032 in increasing the use of artificial intelligence and expanding across Italy, it said on Tuesday.
Comparison with Previous Strategy
Total investments are 14.6% higher compared with the group's previous strategy when excluding the cash outlay related to the acquisition of 2i Rete Gas last year.
Expected Efficiencies and Technological Improvements
Projected Efficiencies
The group said it expected efficiencies of €280 million by 2032, up 12% from a previous estimate, helped by technological improvements.
Role of Artificial Intelligence
"Artificial Intelligence is an integral part of Italgas' operating model and lies at the core of this plan," Chief Executive Paolo Gallo said in a statement.
Financial Projections and Guidance
Earnings and Growth Rate
Italgas expects earnings before interest, taxes, depreciation and amortisation to be €3.3 billion in 2032, implying an average annual growth rate of 8.4% from 2025 levels.
Dividend Policy and 2026 Guidance
The group confirmed its dividend policy and its 2026 full-year guidance, which forecasts adjusted EBITDA of between €2.10 billion and €2.15 billion.
Additional Information
Exchange Rate
($1 = 0.8754 euros)
Reporting Credits
(Reporting by Mirko Miorelli and Fracesca Landini, editing by Giulia Segreti and Barbara Lewis)
