Italgas Raises 2026 Profit Targets Following Strong Quarterly Results
Italgas Reports Strong Financial Performance and Updates 2026 Guidance
Quarterly Financial Highlights
May 5 (Reuters) - Italian gas distributor Italgas said on Tuesday it expects a 2026 adjusted net profit of between 0.74-0.76 billion euros ($0.87-$0.89 billion), after posting a 43% increase in first quarter adjusted profit.
CEO Commentary on Results and Guidance
CEO Paolo Gallo said the results and 2026 guidance incorporate "the significant synergies resulting from the integration with 2i Rete Gas," as well as the first results of AI adoption in operations.
Key Financial Metrics
• Italgas sees 2026 adjusted core profit (EBITDA) in a range of 2.10-2.15 billion euros, after reporting a rise of 52.6% to 526.8 million in adjusted core profit for the latest quarter
• Company reports adjusted revenue of 661.7 million euros for the quarter
• Net profit was above brokerage Equita's expectation of 178 million euros
Strategic Acquisitions and Market Context
• Company acquired 2i Rete Gas last year in a deal worth 5.3 billion euros
($1 = 0.8553 euros)
Reporting and Editorial Credits
(Reporting by Mirko Miorelli; Editing by Matt Scuffham)
