)
Visual
test
Italgas
Italgas (IG) investor relations material
Italgas Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary30 Oct, 2025
Executive summary
Strategic plan to 2031 unveiled after acquiring 2i Rete Gas, making the group Europe's largest gas DSO, serving nearly 13 million customers and managing 160,000 km of network.
Double-digit growth in all main economic and financial indicators for the first nine months of 2025, driven by the consolidation and integration of 2i Rete Gas.
The plan emphasizes innovation, digital transformation, energy transition, and operational efficiency, with core businesses in gas distribution (Italy and Greece), water services, and energy efficiency.
EUR 16.5 billion investment planned over seven years, targeting double-digit EBITDA and EPS growth from 2024, and a robust financial structure with deleveraging starting in 2028.
Integration of 2i Rete Gas completed in record time, with process and IT alignment, territorial reorganisation, and EUR 250 million in targeted cost synergies.
Financial highlights
Total revenues for 9M 2025 reached €1,854.9 million, up 42.8% year-over-year, with adjusted EBITDA up 35.6% to €1,368.9 million and adjusted EBIT up 45.2% to €879.6 million.
Net profit attributable to the group increased 36.8% to €494.9 million; CapEx for the period at €773.3 million, up 40.7% from last year.
Operational cash flow exceeded €1 billion, covering CapEx and part of the dividend.
Net financial debt reached €11,108.2 million, mainly due to the 2i Rete Gas acquisition, partially offset by a €1,020 million capital increase.
Technical investments focused on digitization and network development, with 634 km of new gas networks built.
Outlook and guidance
2025 guidance improved: adjusted revenues €2.5 billion, adjusted EBITDA €1.87 billion, adjusted EBIT €1.19 billion, CapEx around €1.2 billion, net debt (excl. IFRS 16) €10.8 billion.
By 2031, revenues projected at €3.8 billion, EBITDA at €3 billion, EBIT at €2 billion, and RAB surpassing €20 billion.
Dividend policy extended to 2028, maintaining a 65% payout on adjusted EPS, with a minimum 5% annual increase from 2024 DPS.
Opex efficiencies and synergies from 2i Rete Gas integration expected to continue, with regulatory updates and RAB growth in Italy offsetting lower allowed WACC.
Focus on digital innovation, sustainability, and operational efficiency post-acquisition, with continued investment in smart technologies, automation, and AI.
What AI solutions are being integrated?
Impact of antitrust divestitures on operations?
What is the impact of X-factor reduction proposal?
How will TOTEX framework impact synergy retention?
What makes Italgas' AI application a benchmark?
How will green gases reshape network utilization?
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Latest summaries
- TimeTickerHeadlineOpen
- 6 FebJOUT
Net sales up 31%, gross margin at 36.6%, and net loss narrowed to $3.3 million. - 6 FebPECO
Record 2025 occupancy and 7% Core FFO growth; 2026 targets 5.5% FFO growth and strong acquisitions. - 6 FebPROV
Q2 FY2026 net income rose 65% year-over-year, with higher margins and strong credit quality. - 6 FebNVDA
AI-driven digital twins and accelerated computing are set to revolutionize industrial design and manufacturing. - 6 FebCDP
2025 FFO/share rose 5.8% to $2.72, with strong leasing and investment; 2026 guidance signals more growth. - 6 FebCRI
Q1 2025 saw record revenue, a return to profit, and major new contracts in space technology. - 6 FebCRINet loss widened to 7.5m PLN in H1 2024 as revenue fell and R&D costs remained high.
- 6 FebCRINet loss deepened on lower sales and higher costs, but major new contracts and restructuring are underway.
- 6 FebEMBASSY
Record revenue, NOI, and distributions highlight strong growth and robust segment performance. - 6 FebCRIRevenue fell and losses deepened, but ESA contracts and R&D projects drive future prospects.
Next Italgas earnings date
Q4 20254 Mar, 2026
Italgas
Next Italgas earnings date
Q4 20254 Mar, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
Italgas S.p.A. is a leading Italian company in the distribution of natural gas. It operates an extensive gas distribution network, serving residential, commercial, and industrial customers. The company is focused on the management, maintenance, and expansion of its infrastructure, ensuring the safe and efficient delivery of natural gas across its service areas. Italgas is also involved in digitalization and innovation projects aimed at enhancing the efficiency and sustainability of its gas distribution operations. Its services support the energy transition by promoting cleaner energy solutions. The company is headquartered in Milan, Italy, and its shares are listed on the Borsa Italiana.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage