Italgas posted first-half adjusted net profit of €398.6 million, up 27.3% year on year, as adjusted revenue climbed 17.5% to €1.32 billion and adjusted EBITDA rose 25% to €1.07 billion. Operating cash flow reached roughly €930 million.
Technical investments surged 54.6% to €765.2 million, while the company captured about €130 million in synergies from its 2i Rete Gas acquisition in just six months, already reaching nearly 42% of the synergy target set for 2032. Net debt stood at €10.71 billion, with an average cost of debt of 2.1%.
Looking ahead, the group plans €13 billion in investments through 2032 and aims to reduce its leverage ratio over the medium term, even as it expects the average cost of debt to exceed 3% by 2032. Italgas will continue bidding in ATEM gas distribution tenders, having won roughly 80% of those entered since 2020.