Italgas: 13 billion investment plan through to 2032. Guidance and dividend policy confirmed

Italgas has unveiled its new strategic plan up to 2032, which provides for 13 billion in investment – 14.6 per cent more than the previous strategy. The bulk of the funds (€8.3 billion) will be allocated to the development, digitalisation and refurbishment of networks in Italia (+4.0%). Over the course of the plan, the group led by Paolo Gallo estimates it will achieve an EBITDA of 3.3 billion euros with a total RAB of 21.7 billion euros, an increase on the targets set out in the 2025–2031 plan.

“The 2026–2032 strategic plan consolidates a growth trajectory that Italgas has pursued with foresight and a consistent vision. Geopolitical instability has made it clear that energy security is based on the resilience and extensive coverage of infrastructure networks,” commented the chairman, Paolo Ciocca. Italgas is committed precisely to this: building and managing smart, digital and flexible networks capable of strengthening the competitiveness of the energy systems in which we operate and supporting the diversification of energy sources. “A plan of this scale – 13 billion euros – is an act of responsibility towards the communities and regions we serve, and a long-term commitment to the countries in which we operate.”

CEO Paolo Gallo, on the other hand, emphasises artificial intelligence, “which is an integral part of Italgas’s operating model and lies at the heart of this plan. When applied to operations, business processes and customer management, our agents are generating significant efficiencies and improving the quality of service”. The €13 billion in investments, the CEO goes on to explain, “will make our network even smarter, more extensive and flexible, ready to accommodate green energy sources and support an energy system that is increasingly exposed to international instability and the impacts on commodity markets”.

Returning to the plan, which confirms the dividend policy already announced to the market and the 2026 guidance, the group intends to invest 2.4 billion euros in future Atem tenders (59 per cent more than under the previous strategy). ““This,” explains Gallo, “is a significant opportunity to overcome the fragmentation that has historically held back the sector’s development.” The increase thus reflects the acceleration seen in tenders over recent months and the group’s confidence in its ability to win over 100 tenders over the course of the plan.

Alongside the strong focus on the network and tenders, the plan up to 2032 also provides for a significant investment (€1 billion) in the development and expansion of the gas distribution network in Greece, in line with the previous plan, whilst €800 million will be set aside to strengthen the group’s position in the water and energy efficiency sectors (+5.6%). On the water front, the group’s objective is to improve service quality, halve water losses and encourage greater water reuse, whilst on the energy efficiency front, the company states that the priority “is to build a resilient revenue stream”.