Italgas (IGM) 주식 개요Italgas S.p.A.는 자회사와 함께 이탈리아, 그리스 및 기타 유럽 연합 국가에서 천연 가스를 유통하는 사업을 하고 있습니다. 자세히 보기IGM 펀더멘털 분석스노우플레이크 점수가치 평가1/6미래 성장1/6과거 실적4/6재무 건전성2/6배당3/6강점수익은 매년 8.41% 증가할 것으로 예상됩니다.지난 1년간 수익이 28.8% 증가했습니다.위험 분석주식은 유동성이 매우 낮습니다부채는 operating cash flow로 충분히 감당되지 않습니다.지난 1년 동안 주주가 희석되었습니다.모든 위험 점검 보기IGM Community Fair Values Create NarrativeSee what others think this stock is worth. Follow their fair value or set your own to get alerts.Your Fair Value€Current Price€10.0345.4% 고평가 내재 할인율Growth estimate overAnnual revenue growth rate5 Yearstime period%/yrDecreaseIncreasePastFuture-108m4b2016201920222025202620282031Revenue €3.7bEarnings €677.0mAdvancedSet Fair ValueView all narrativesItalgas S.p.A. 경쟁사United Utilities GroupSymbol: LSE:UU.Market cap: UK£9.7bSevern TrentSymbol: LSE:SVTMarket cap: UK£8.8bPennon GroupSymbol: LSE:PNNMarket cap: UK£2.4bSSESymbol: LSE:SSEMarket cap: UK£28.4b가격 이력 및 성과Italgas 주가의 최고가, 최저가 및 변동 요약과거 주가현재 주가€10.0352주 최고가€11.2752주 최저가€6.87베타0.691개월 변동-4.02%3개월 변동-4.39%1년 변동45.63%3년 변동80.23%5년 변동78.85%IPO 이후 변동153.03%최근 뉴스 및 업데이트Board Change • May 20Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 11 experienced directors. 1 highly experienced director. 2 independent directors (7 non-independent directors). Non-executive Independent Director Gianmarco Montanari was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.공시 • Mar 24Italgas S.p.A., Annual General Meeting, Apr 21, 2026Italgas S.p.A., Annual General Meeting, Apr 21, 2026, at 11:00 W. Europe Standard Time.공시 • Mar 05Italgas S.p.A. announces Annual dividend, payable on May 20, 2026Italgas S.p.A. announced Annual dividend of EUR 0.4320 per share payable on May 20, 2026, ex-date on May 18, 2026 and record date on May 19, 2026.공시 • Feb 19Italgas S.p.A. to Report Fiscal Year 2025 Results on Mar 04, 2026Italgas S.p.A. announced that they will report fiscal year 2025 results Pre-Market on Mar 04, 2026공시 • Jan 23+ 2 more updatesItalgas S.p.A. to Report Nine Months, 2026 Results on Oct 29, 2026Italgas S.p.A. announced that they will report nine months, 2026 results on Oct 29, 2026공시 • May 29Italgas S.p.A. has filed a Follow-on Equity Offering in the amount of €1.019969 billion.Italgas S.p.A. has filed a Follow-on Equity Offering in the amount of €1.019969 billion. Security Name: Shares Security Type: Common Stock Securities Offered: 202,938,478 Price\Range: €5.026 Transaction Features: Rights Offering더 많은 업데이트 보기Recent updatesBoard Change • May 20Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 11 experienced directors. 1 highly experienced director. 2 independent directors (7 non-independent directors). Non-executive Independent Director Gianmarco Montanari was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.공시 • Mar 24Italgas S.p.A., Annual General Meeting, Apr 21, 2026Italgas S.p.A., Annual General Meeting, Apr 21, 2026, at 11:00 W. Europe Standard Time.공시 • Mar 05Italgas S.p.A. announces Annual dividend, payable on May 20, 2026Italgas S.p.A. announced Annual dividend of EUR 0.4320 per share payable on May 20, 2026, ex-date on May 18, 2026 and record date on May 19, 2026.공시 • Feb 19Italgas S.p.A. to Report Fiscal Year 2025 Results on Mar 04, 2026Italgas S.p.A. announced that they will report fiscal year 2025 results Pre-Market on Mar 04, 2026공시 • Jan 23+ 2 more updatesItalgas S.p.A. to Report Nine Months, 2026 Results on Oct 29, 2026Italgas S.p.A. announced that they will report nine months, 2026 results on Oct 29, 2026공시 • May 29Italgas S.p.A. has filed a Follow-on Equity Offering in the amount of €1.019969 billion.Italgas S.p.A. has filed a Follow-on Equity Offering in the amount of €1.019969 billion. Security Name: Shares Security Type: Common Stock Securities Offered: 202,938,478 Price\Range: €5.026 Transaction Features: Rights Offering공시 • Mar 12Italgas S.p.A., Annual General Meeting, May 13, 2025Italgas S.p.A., Annual General Meeting, May 13, 2025, at 14:00 W. Europe Standard Time.공시 • Jan 22+ 3 more updatesItalgas S.p.A. to Report First Half, 2025 Results on Jul 24, 2025Italgas S.p.A. announced that they will report first half, 2025 results on Jul 24, 2025공시 • Jul 13Italgas S.p.A. to Report First Half, 2024 Results on Jul 24, 2024Italgas S.p.A. announced that they will report first half, 2024 results on Jul 24, 2024공시 • May 16Italgas Begins Exclusive Talks to Buy 2i Rete GasItalgas S.p.A. (BIT:IG), Europe's biggest gas distributor, said on May 13, 2024 that it started exclusive talks to acquire smaller rival 2i Rete Gas SpA. A merger between the two would be a major step in the consolidation of the gas distribution market in Italy with 2i Rete gas adding a 20% market share to Italgas' 35%, according to analyst calculations. 2i Rete Gas, which is Italy's second-largest distributor for the fuel, said in February it wanted to list on the Milan bourse, but in March media speculation emerged about an approach by Italgas valuing the rival at EUR 4 billion to EUR 5 billion ($4.3 billion to $5.4 billion). Sources told Reuters on May 13, 2024 that Italgas had nudged up a preliminary offer, winning the green light from the rival's shareholders for several weeks of exclusive talks. Italian infrastructure fund F2i has a 64% stake in 2i Rete Gas. Dutch pension fund APG and buyout group Ardian together hold the remaining 36.1% under the vehicle Finavias. "Without interrupting the listing process, F2i and Finavias have granted Italgas a period of exclusivity in order to complete a due diligence preparatory to a possible binding purchase offer," investors in 2i Rete Gas said in a separate statement. Should the acquisition go through, Italgas will finance the acquisition via a bridge credit facility underwritten by JP Morgan, which could be refinanced through a combination of equity, debt or equity like instruments, the suitor said. JP Morgan is acting as financial adviser and Legance is acting as legal adviser to Italgas. Rothschild is advising Ardian and APG, while Lazard is assisting F2i.Declared Dividend • Mar 17Dividend increased to €0.35Dividend of €0.35 is 11% higher than last year. Ex-date: 20th May 2024 Payment date: 22nd May 2024 Dividend yield will be 6.6%, which is higher than the industry average of 4.4%. Sustainability & Growth Dividend is covered by earnings (59% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 8.4% per year over the past 7 years and payments have been stable during that time. EPS is expected to grow by 5.3% over the next 3 years, which should provide support to the dividend and adequate earnings cover.Reported Earnings • Mar 15Full year 2023 earnings releasedFull year 2023 results: Revenue: €1.82b (down 19% from FY 2022). Net income: €439.6m (up 7.9% from FY 2022). Profit margin: 24% (up from 18% in FY 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 1.7% growth forecast for the Gas Utilities industry in Europe.Board Change • Mar 07High number of new and inexperienced directorsThere are 9 new directors who have joined the board in the last 3 years. The company's board is composed of: 9 new directors. 3 experienced directors. No highly experienced directors. CEO, GM & Director Paolo Gallo is the most experienced director on the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.공시 • Jan 30+ 2 more updatesItalgas S.p.A. to Report Nine Months, 2024 Results on Oct 24, 2024Italgas S.p.A. announced that they will report nine months, 2024 results on Oct 24, 2024Board Change • Jan 27High number of new and inexperienced directorsThere are 9 new directors who have joined the board in the last 3 years. The company's board is composed of: 9 new directors. 3 experienced directors. No highly experienced directors. CEO, GM & Director Paolo Gallo is the most experienced director on the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.Board Change • Dec 29High number of new and inexperienced directorsThere are 9 new directors who have joined the board in the last 3 years. The company's board is composed of: 9 new directors. 3 experienced directors. No highly experienced directors. CEO, GM & Director Paolo Gallo is the most experienced director on the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.공시 • Oct 18Italgas S.p.A. (BIT:IG) completed the acquisition of Acqua S.r.l., Idrolatina S.r.l., and Acqua Campania S.p.A from Veolia Environnement SA (ENXTPA:VIE).Italgas S.p.A. (BIT:IG) signed a purchase agreement to acquire Acqua S.r.l., Idrolatina S.r.l., and Acqua Campania S.p.A from Veolia Environnement SA (ENXTPA:VIE) for approximately €115 million on June 9, 2023. The consideration which includes partially depending upon certain targets of the operational companies. Through this transaction Italgas will acquire 100% of Acqua S.r.l., which in turn directly holds 98.7% of Idrosicilia S.p.A. and, indirectly, 75% of the equity of Siciliacque S.p.A, 100% of Idrolatina S.r.l., which in turn holds about 49% of Acqualatina S.p.A and 47.9% of Acqua Campania S.p.A from Veolia. The closing of the transaction is subject to the fulfillment of certain conditions precedent, including the involvement or approval by the Public Bodies which awarded the water service concession. Italgas S.p.A. (BIT:IG) completed the acquisition of Acqua S.r.l., Idrolatina S.r.l., and Acqua Campania S.p.A from Veolia Environnement SA (ENXTPA:VIE) on October 16, 2023. Nepta is the new name of the Italgas that will manage all the Group's water activities. The transaction has approved by the Granting Authorities.Board Change • Sep 27Less than half of directors are independentFollowing the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 8 non-independent directors. Independent Chairwoman Benedetta Navarra was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • Aug 05Second quarter 2023 earnings released: EPS: €0.14 (vs €0.12 in 2Q 2022)Second quarter 2023 results: EPS: €0.14 (up from €0.12 in 2Q 2022). Revenue: €793.8m (up 15% from 2Q 2022). Net income: €109.6m (up 10% from 2Q 2022). Profit margin: 14% (in line with 2Q 2022). Revenue is expected to fall by 3.5% p.a. on average during the next 3 years compared to a 1.3% decline forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has fallen by 1% per year.Board Change • Aug 03Less than half of directors are independentFollowing the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 8 non-independent directors. Independent Chairwoman Benedetta Navarra was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.공시 • Jun 10Italgas S.p.A. (BIT:IG) signed a purchase agreement to acquire Acqua S.r.l., Idrolatina S.r.l., and Acqua Campania S.p.A from Veolia Environnement SA (ENXTPA:VIE) for approximately €115 million.Italgas S.p.A. (BIT:IG) signed a purchase agreement to acquire Acqua S.r.l., Idrolatina S.r.l., and Acqua Campania S.p.A from Veolia Environnement SA (ENXTPA:VIE) for approximately €115 million on June 9, 2023. The consideration which includes partially depending upon certain targets of the operational companies. Through this transaction Italgas will acquire 100% of Acqua S.r.l., which in turn directly holds 98.7% of Idrosicilia S.p.A. and, indirectly, 75% of the equity of Siciliacque S.p.A, 100% of Idrolatina S.r.l., which in turn holds about 49% of Acqualatina S.p.A and 47.9% of Acqua Campania S.p.A from Veolia. The closing of the transaction is subject to the fulfillment of certain conditions precedent, including the involvement or approval by the Public Bodies which awarded the water service concession.Board Change • Jun 01Less than half of directors are independentFollowing the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 8 non-independent directors. Independent Chairwoman Benedetta Navarra was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Upcoming Dividend • May 15Upcoming dividend of €0.32 per share at 5.3% yieldEligible shareholders must have bought the stock before 22 May 2023. Payment date: 24 May 2023. Payout ratio is a comfortable 61% but the company is paying out more than the cash it is generating. Trailing yield: 5.3%. Lower than top quartile of British dividend payers (5.9%). Higher than average of industry peers (4.4%).Reported Earnings • May 07First quarter 2023 earnings releasedFirst quarter 2023 results: EPS: €0.13. Revenue: €479.9m (up 36% from 1Q 2022). Net income: €103.6m (up 17% from 1Q 2022). Profit margin: 22% (down from 25% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 5% per year.공시 • May 06Italgas to Merge 3 Greek Companies Owned by Depa InfrastructureItalgas S.p.A. (BIT:IG) plans to merge 3 Greek companies owned by Depa Infrastructure in one to increase efficiency. Italgas CEO: asked about Warchest for M&A, says group cannot spend now as much as it did for Depa Infrastructure.Board Change • Apr 18Less than half of directors are independentFollowing the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 8 non-independent directors. Independent Chairwoman Benedetta Navarra was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • Mar 28Full year 2022 earnings released: EPS: €0.50 (vs €0.45 in FY 2021)Full year 2022 results: EPS: €0.50 (up from €0.45 in FY 2021). Revenue: €2.23b (up 4.7% from FY 2021). Net income: €407.3m (up 12% from FY 2021). Profit margin: 18% (up from 17% in FY 2021). The increase in margin was driven by higher revenue. Revenue is expected to fall by 1.2% p.a. on average during the next 3 years compared to a 1.1% decline forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings.Board Change • Mar 16Less than half of directors are independentFollowing the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Chairwoman Benedetta Navarra was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Board Change • Jan 28Less than half of directors are independentFollowing the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Chairwoman Benedetta Navarra was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.공시 • Jan 20+ 2 more updatesItalgas S.p.A. to Report Q1, 2023 Results on May 04, 2023Italgas S.p.A. announced that they will report Q1, 2023 results on May 04, 2023Reported Earnings • Nov 23Third quarter 2022 earnings releasedThird quarter 2022 results: EPS: €0.12. Revenue: €328.1m (down 3.6% from 3Q 2021). Net income: €100.2m (up 2.8% from 3Q 2021). Profit margin: 31% (up from 29% in 3Q 2021). The increase in margin was driven by lower expenses. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 2.5% decline forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 1% per year.Board Change • Nov 17Less than half of directors are independentFollowing the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Chairwoman Benedetta Navarra was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • Oct 30Third quarter 2022 earnings releasedThird quarter 2022 results: EPS: €0.12. Revenue: €379.8m (up 12% from 3Q 2021). Net income: €100.3m (up 2.9% from 3Q 2021). Profit margin: 26% (down from 29% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 5% per year.Board Change • Aug 31Less than half of directors are independentFollowing the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Chairwoman Benedetta Navarra was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Board Change • Aug 09Less than half of directors are independentFollowing the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Chairwoman Benedetta Navarra was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • Jul 26Second quarter 2022 earnings releasedSecond quarter 2022 results: Revenue: €353.4m (down 50% from 2Q 2021). Net income: €99.4m (up 11% from 2Q 2021). Profit margin: 28% (up from 13% in 2Q 2021). The increase in margin was driven by lower expenses. Over the next year, revenue is expected to shrink by 31% compared to a 12% decline forecast for the industry in the United Kingdom.Buying Opportunity • Jul 15Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 13%. The fair value is estimated to be €6.63, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10.0% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 6.3% per annum. Earnings is also forecast to grow by 8.0% per annum over the same time period.Board Change • Jul 13Less than half of directors are independentFollowing the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Chairwoman Benedetta Navarra was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Upcoming Dividend • May 16Upcoming dividend of €0.29 per shareEligible shareholders must have bought the stock before 23 May 2022. Payment date: 25 May 2022. Payout ratio is a comfortable 64% but the company is paying out more than the cash it is generating. Trailing yield: 4.8%. Lower than top quartile of British dividend payers (4.9%). In line with average of industry peers (5.2%).Board Change • May 10Less than half of directors are independentFollowing the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Chairwoman Benedetta Navarra was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • Mar 12Full year 2021 earnings: Revenues in line with analyst expectationsFull year 2021 results: Revenue: €1.37b (down 35% from FY 2020). Net income: €362.8m (down 5.3% from FY 2020). Profit margin: 27% (up from 18% in FY 2020). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 9.9% compared to a 5.8% decline forecast for the industry in the United Kingdom.Board Change • Feb 21High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Andrea Mascetti was the last director to join the board, commencing their role in 2019. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.Board Change • Jan 13High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Andrea Mascetti was the last director to join the board, commencing their role in 2019. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.Board Change • Dec 08High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Andrea Mascetti was the last director to join the board, commencing their role in 2019. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.Reported Earnings • Oct 29Third quarter 2021 earnings released: EPS €0.12The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: €340.3m (up 2.7% from 3Q 2020). Net income: €97.5m (up 4.7% from 3Q 2020). Profit margin: 29% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 6% per year.Board Change • Oct 28High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Andrea Mascetti was the last director to join the board, commencing their role in 2019. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.Board Change • Sep 17High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Andrea Mascetti was the last director to join the board, commencing their role in 2019. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.Board Change • Aug 27High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Andrea Mascetti was the last director to join the board, commencing their role in 2019. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.Reported Earnings • Jul 31Second quarter 2021 earnings releasedThe company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: €332.1m (down 49% from 2Q 2020). Net income: €94.9m (up 21% from 2Q 2020). Profit margin: 29% (up from 12% in 2Q 2020). The increase in margin was driven by lower expenses.Board Change • Jul 29High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Andrea Mascetti was the last director to join the board, commencing their role in 2019. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.Upcoming Dividend • May 17Upcoming dividend of €0.28 per shareEligible shareholders must have bought the stock before 24 May 2021. Payment date: 26 May 2021. Trailing yield: 5.0%. Within top quartile of British dividend payers (4.1%). Lower than average of industry peers (6.0%).Reported Earnings • Mar 29Full year 2020 earnings released: EPS €0.47 (vs €0.52 in FY 2019)The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: €2.10b (up 13% from FY 2019). Net income: €383.0m (down 8.2% from FY 2019). Profit margin: 18% (down from 23% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.Reported Earnings • Mar 13Full year 2020 earnings releasedThe company reported a soft full year result with weaker earnings and revenues, although profit margins were improved. Full year 2020 results: Revenue: €1.33b (down 28% from FY 2019). Net income: €345.4m (down 17% from FY 2019). Profit margin: 26% (up from 23% in FY 2019). The increase in margin was driven by lower expenses.Analyst Estimate Surprise Post Earnings • Mar 13Revenue beats expectationsRevenue exceeded analyst estimates by 6.2%. Over the next year, revenue is forecast to grow 2.7%, compared to a 2.5% growth forecast for the Gas Utilities industry in the United Kingdom.Is New 90 Day High Low • Feb 26New 90-day low: €4.90The company is down 10.0% from its price of €5.43 on 27 November 2020. The British market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Gas Utilities industry, which is down 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €4.48 per share.주주 수익률IGMGB Gas UtilitiesGB 시장7D0%2.5%-1.0%1Y45.6%23.8%15.2%전체 주주 수익률 보기수익률 대 산업: IGM은 지난 1년 동안 23.8%의 수익을 기록한 UK Gas Utilities 산업보다 더 좋은 성과를 냈습니다.수익률 대 시장: IGM은 지난 1년 동안 15.2%를 기록한 UK 시장보다 더 좋은 성과를 냈습니다.주가 변동성Is IGM's price volatile compared to industry and market?IGM volatilityIGM Average Weekly Movementn/aGas Utilities Industry Average Movement3.0%Market Average Movement5.6%10% most volatile stocks in GB Market11.7%10% least volatile stocks in GB Market3.1%안정적인 주가: IGM의 주가는 지난 3개월 동안 UK 시장보다 변동성이 컸습니다.시간에 따른 변동성: Insufficient data to determine IGM의 변동성 변화를 판단할 수 없습니다.회사 소개설립직원 수CEO웹사이트18376,289Paolo Gallowww.italgas.itItalgas S.p.A.는 자회사와 함께 이탈리아, 그리스 및 기타 유럽 연합 국가에서 천연 가스를 유통하는 사업을 하고 있습니다. 가스 유통, 수도 서비스 및 에너지 효율 부문을 통해 운영됩니다. 이 회사는 가정, 기업 등으로의 가스 운송에 관여합니다.더 보기Italgas S.p.A. 기초 지표 요약Italgas의 순이익과 매출은 시가총액과 어떻게 비교됩니까?IGM 기초 통계시가총액€10.83b순이익 (TTM)€682.52m매출 (TTM)€3.72b15.9x주가수익비율(P/E)2.9x주가매출비율(P/S)IGM는 고평가되어 있습니까?공정 가치 및 평가 분석 보기순이익 및 매출최근 실적 보고서(TTM)의 주요 수익성 지표IGM 손익계산서 (TTM)매출€3.72b매출원가€1.07b총이익€2.65b기타 비용€1.96b순이익€682.52m최근 보고된 실적Mar 31, 2026다음 실적 발표일Jul 27, 2026주당순이익(EPS)0.67총이익률71.17%순이익률18.35%부채/자본 비율260.0%IGM의 장기 실적은 어땠습니까?과거 실적 및 비교 보기배당4.1%현재 배당 수익률64%배당 성향View Valuation기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/06/10 13:12종가2026/05/29 00:00수익2026/03/31연간 수익2025/12/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델에 대한 자세한 내용은 당사의 Github 페이지에서 확인하실 수 있습니다. 또한 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공합니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스Italgas S.p.A.는 26명의 분석가가 다루고 있습니다. 이 중 13명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Francesco SalaBanca Akros S.p.A. (ESN)Tommaso MarabiniBanca Akros S.p.A. (ESN)Virginia Sanz de Madrid GrossBanco Santander23명의 분석가 더 보기
Board Change • May 20Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 11 experienced directors. 1 highly experienced director. 2 independent directors (7 non-independent directors). Non-executive Independent Director Gianmarco Montanari was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
공시 • Mar 24Italgas S.p.A., Annual General Meeting, Apr 21, 2026Italgas S.p.A., Annual General Meeting, Apr 21, 2026, at 11:00 W. Europe Standard Time.
공시 • Mar 05Italgas S.p.A. announces Annual dividend, payable on May 20, 2026Italgas S.p.A. announced Annual dividend of EUR 0.4320 per share payable on May 20, 2026, ex-date on May 18, 2026 and record date on May 19, 2026.
공시 • Feb 19Italgas S.p.A. to Report Fiscal Year 2025 Results on Mar 04, 2026Italgas S.p.A. announced that they will report fiscal year 2025 results Pre-Market on Mar 04, 2026
공시 • Jan 23+ 2 more updatesItalgas S.p.A. to Report Nine Months, 2026 Results on Oct 29, 2026Italgas S.p.A. announced that they will report nine months, 2026 results on Oct 29, 2026
공시 • May 29Italgas S.p.A. has filed a Follow-on Equity Offering in the amount of €1.019969 billion.Italgas S.p.A. has filed a Follow-on Equity Offering in the amount of €1.019969 billion. Security Name: Shares Security Type: Common Stock Securities Offered: 202,938,478 Price\Range: €5.026 Transaction Features: Rights Offering
Board Change • May 20Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 11 experienced directors. 1 highly experienced director. 2 independent directors (7 non-independent directors). Non-executive Independent Director Gianmarco Montanari was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
공시 • Mar 24Italgas S.p.A., Annual General Meeting, Apr 21, 2026Italgas S.p.A., Annual General Meeting, Apr 21, 2026, at 11:00 W. Europe Standard Time.
공시 • Mar 05Italgas S.p.A. announces Annual dividend, payable on May 20, 2026Italgas S.p.A. announced Annual dividend of EUR 0.4320 per share payable on May 20, 2026, ex-date on May 18, 2026 and record date on May 19, 2026.
공시 • Feb 19Italgas S.p.A. to Report Fiscal Year 2025 Results on Mar 04, 2026Italgas S.p.A. announced that they will report fiscal year 2025 results Pre-Market on Mar 04, 2026
공시 • Jan 23+ 2 more updatesItalgas S.p.A. to Report Nine Months, 2026 Results on Oct 29, 2026Italgas S.p.A. announced that they will report nine months, 2026 results on Oct 29, 2026
공시 • May 29Italgas S.p.A. has filed a Follow-on Equity Offering in the amount of €1.019969 billion.Italgas S.p.A. has filed a Follow-on Equity Offering in the amount of €1.019969 billion. Security Name: Shares Security Type: Common Stock Securities Offered: 202,938,478 Price\Range: €5.026 Transaction Features: Rights Offering
공시 • Mar 12Italgas S.p.A., Annual General Meeting, May 13, 2025Italgas S.p.A., Annual General Meeting, May 13, 2025, at 14:00 W. Europe Standard Time.
공시 • Jan 22+ 3 more updatesItalgas S.p.A. to Report First Half, 2025 Results on Jul 24, 2025Italgas S.p.A. announced that they will report first half, 2025 results on Jul 24, 2025
공시 • Jul 13Italgas S.p.A. to Report First Half, 2024 Results on Jul 24, 2024Italgas S.p.A. announced that they will report first half, 2024 results on Jul 24, 2024
공시 • May 16Italgas Begins Exclusive Talks to Buy 2i Rete GasItalgas S.p.A. (BIT:IG), Europe's biggest gas distributor, said on May 13, 2024 that it started exclusive talks to acquire smaller rival 2i Rete Gas SpA. A merger between the two would be a major step in the consolidation of the gas distribution market in Italy with 2i Rete gas adding a 20% market share to Italgas' 35%, according to analyst calculations. 2i Rete Gas, which is Italy's second-largest distributor for the fuel, said in February it wanted to list on the Milan bourse, but in March media speculation emerged about an approach by Italgas valuing the rival at EUR 4 billion to EUR 5 billion ($4.3 billion to $5.4 billion). Sources told Reuters on May 13, 2024 that Italgas had nudged up a preliminary offer, winning the green light from the rival's shareholders for several weeks of exclusive talks. Italian infrastructure fund F2i has a 64% stake in 2i Rete Gas. Dutch pension fund APG and buyout group Ardian together hold the remaining 36.1% under the vehicle Finavias. "Without interrupting the listing process, F2i and Finavias have granted Italgas a period of exclusivity in order to complete a due diligence preparatory to a possible binding purchase offer," investors in 2i Rete Gas said in a separate statement. Should the acquisition go through, Italgas will finance the acquisition via a bridge credit facility underwritten by JP Morgan, which could be refinanced through a combination of equity, debt or equity like instruments, the suitor said. JP Morgan is acting as financial adviser and Legance is acting as legal adviser to Italgas. Rothschild is advising Ardian and APG, while Lazard is assisting F2i.
Declared Dividend • Mar 17Dividend increased to €0.35Dividend of €0.35 is 11% higher than last year. Ex-date: 20th May 2024 Payment date: 22nd May 2024 Dividend yield will be 6.6%, which is higher than the industry average of 4.4%. Sustainability & Growth Dividend is covered by earnings (59% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 8.4% per year over the past 7 years and payments have been stable during that time. EPS is expected to grow by 5.3% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
Reported Earnings • Mar 15Full year 2023 earnings releasedFull year 2023 results: Revenue: €1.82b (down 19% from FY 2022). Net income: €439.6m (up 7.9% from FY 2022). Profit margin: 24% (up from 18% in FY 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 1.7% growth forecast for the Gas Utilities industry in Europe.
Board Change • Mar 07High number of new and inexperienced directorsThere are 9 new directors who have joined the board in the last 3 years. The company's board is composed of: 9 new directors. 3 experienced directors. No highly experienced directors. CEO, GM & Director Paolo Gallo is the most experienced director on the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.
공시 • Jan 30+ 2 more updatesItalgas S.p.A. to Report Nine Months, 2024 Results on Oct 24, 2024Italgas S.p.A. announced that they will report nine months, 2024 results on Oct 24, 2024
Board Change • Jan 27High number of new and inexperienced directorsThere are 9 new directors who have joined the board in the last 3 years. The company's board is composed of: 9 new directors. 3 experienced directors. No highly experienced directors. CEO, GM & Director Paolo Gallo is the most experienced director on the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.
Board Change • Dec 29High number of new and inexperienced directorsThere are 9 new directors who have joined the board in the last 3 years. The company's board is composed of: 9 new directors. 3 experienced directors. No highly experienced directors. CEO, GM & Director Paolo Gallo is the most experienced director on the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.
공시 • Oct 18Italgas S.p.A. (BIT:IG) completed the acquisition of Acqua S.r.l., Idrolatina S.r.l., and Acqua Campania S.p.A from Veolia Environnement SA (ENXTPA:VIE).Italgas S.p.A. (BIT:IG) signed a purchase agreement to acquire Acqua S.r.l., Idrolatina S.r.l., and Acqua Campania S.p.A from Veolia Environnement SA (ENXTPA:VIE) for approximately €115 million on June 9, 2023. The consideration which includes partially depending upon certain targets of the operational companies. Through this transaction Italgas will acquire 100% of Acqua S.r.l., which in turn directly holds 98.7% of Idrosicilia S.p.A. and, indirectly, 75% of the equity of Siciliacque S.p.A, 100% of Idrolatina S.r.l., which in turn holds about 49% of Acqualatina S.p.A and 47.9% of Acqua Campania S.p.A from Veolia. The closing of the transaction is subject to the fulfillment of certain conditions precedent, including the involvement or approval by the Public Bodies which awarded the water service concession. Italgas S.p.A. (BIT:IG) completed the acquisition of Acqua S.r.l., Idrolatina S.r.l., and Acqua Campania S.p.A from Veolia Environnement SA (ENXTPA:VIE) on October 16, 2023. Nepta is the new name of the Italgas that will manage all the Group's water activities. The transaction has approved by the Granting Authorities.
Board Change • Sep 27Less than half of directors are independentFollowing the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 8 non-independent directors. Independent Chairwoman Benedetta Navarra was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • Aug 05Second quarter 2023 earnings released: EPS: €0.14 (vs €0.12 in 2Q 2022)Second quarter 2023 results: EPS: €0.14 (up from €0.12 in 2Q 2022). Revenue: €793.8m (up 15% from 2Q 2022). Net income: €109.6m (up 10% from 2Q 2022). Profit margin: 14% (in line with 2Q 2022). Revenue is expected to fall by 3.5% p.a. on average during the next 3 years compared to a 1.3% decline forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has fallen by 1% per year.
Board Change • Aug 03Less than half of directors are independentFollowing the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 8 non-independent directors. Independent Chairwoman Benedetta Navarra was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
공시 • Jun 10Italgas S.p.A. (BIT:IG) signed a purchase agreement to acquire Acqua S.r.l., Idrolatina S.r.l., and Acqua Campania S.p.A from Veolia Environnement SA (ENXTPA:VIE) for approximately €115 million.Italgas S.p.A. (BIT:IG) signed a purchase agreement to acquire Acqua S.r.l., Idrolatina S.r.l., and Acqua Campania S.p.A from Veolia Environnement SA (ENXTPA:VIE) for approximately €115 million on June 9, 2023. The consideration which includes partially depending upon certain targets of the operational companies. Through this transaction Italgas will acquire 100% of Acqua S.r.l., which in turn directly holds 98.7% of Idrosicilia S.p.A. and, indirectly, 75% of the equity of Siciliacque S.p.A, 100% of Idrolatina S.r.l., which in turn holds about 49% of Acqualatina S.p.A and 47.9% of Acqua Campania S.p.A from Veolia. The closing of the transaction is subject to the fulfillment of certain conditions precedent, including the involvement or approval by the Public Bodies which awarded the water service concession.
Board Change • Jun 01Less than half of directors are independentFollowing the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 8 non-independent directors. Independent Chairwoman Benedetta Navarra was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Upcoming Dividend • May 15Upcoming dividend of €0.32 per share at 5.3% yieldEligible shareholders must have bought the stock before 22 May 2023. Payment date: 24 May 2023. Payout ratio is a comfortable 61% but the company is paying out more than the cash it is generating. Trailing yield: 5.3%. Lower than top quartile of British dividend payers (5.9%). Higher than average of industry peers (4.4%).
Reported Earnings • May 07First quarter 2023 earnings releasedFirst quarter 2023 results: EPS: €0.13. Revenue: €479.9m (up 36% from 1Q 2022). Net income: €103.6m (up 17% from 1Q 2022). Profit margin: 22% (down from 25% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 5% per year.
공시 • May 06Italgas to Merge 3 Greek Companies Owned by Depa InfrastructureItalgas S.p.A. (BIT:IG) plans to merge 3 Greek companies owned by Depa Infrastructure in one to increase efficiency. Italgas CEO: asked about Warchest for M&A, says group cannot spend now as much as it did for Depa Infrastructure.
Board Change • Apr 18Less than half of directors are independentFollowing the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 8 non-independent directors. Independent Chairwoman Benedetta Navarra was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • Mar 28Full year 2022 earnings released: EPS: €0.50 (vs €0.45 in FY 2021)Full year 2022 results: EPS: €0.50 (up from €0.45 in FY 2021). Revenue: €2.23b (up 4.7% from FY 2021). Net income: €407.3m (up 12% from FY 2021). Profit margin: 18% (up from 17% in FY 2021). The increase in margin was driven by higher revenue. Revenue is expected to fall by 1.2% p.a. on average during the next 3 years compared to a 1.1% decline forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings.
Board Change • Mar 16Less than half of directors are independentFollowing the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Chairwoman Benedetta Navarra was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Board Change • Jan 28Less than half of directors are independentFollowing the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Chairwoman Benedetta Navarra was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
공시 • Jan 20+ 2 more updatesItalgas S.p.A. to Report Q1, 2023 Results on May 04, 2023Italgas S.p.A. announced that they will report Q1, 2023 results on May 04, 2023
Reported Earnings • Nov 23Third quarter 2022 earnings releasedThird quarter 2022 results: EPS: €0.12. Revenue: €328.1m (down 3.6% from 3Q 2021). Net income: €100.2m (up 2.8% from 3Q 2021). Profit margin: 31% (up from 29% in 3Q 2021). The increase in margin was driven by lower expenses. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 2.5% decline forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 1% per year.
Board Change • Nov 17Less than half of directors are independentFollowing the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Chairwoman Benedetta Navarra was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • Oct 30Third quarter 2022 earnings releasedThird quarter 2022 results: EPS: €0.12. Revenue: €379.8m (up 12% from 3Q 2021). Net income: €100.3m (up 2.9% from 3Q 2021). Profit margin: 26% (down from 29% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 5% per year.
Board Change • Aug 31Less than half of directors are independentFollowing the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Chairwoman Benedetta Navarra was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Board Change • Aug 09Less than half of directors are independentFollowing the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Chairwoman Benedetta Navarra was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • Jul 26Second quarter 2022 earnings releasedSecond quarter 2022 results: Revenue: €353.4m (down 50% from 2Q 2021). Net income: €99.4m (up 11% from 2Q 2021). Profit margin: 28% (up from 13% in 2Q 2021). The increase in margin was driven by lower expenses. Over the next year, revenue is expected to shrink by 31% compared to a 12% decline forecast for the industry in the United Kingdom.
Buying Opportunity • Jul 15Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 13%. The fair value is estimated to be €6.63, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10.0% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 6.3% per annum. Earnings is also forecast to grow by 8.0% per annum over the same time period.
Board Change • Jul 13Less than half of directors are independentFollowing the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Chairwoman Benedetta Navarra was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Upcoming Dividend • May 16Upcoming dividend of €0.29 per shareEligible shareholders must have bought the stock before 23 May 2022. Payment date: 25 May 2022. Payout ratio is a comfortable 64% but the company is paying out more than the cash it is generating. Trailing yield: 4.8%. Lower than top quartile of British dividend payers (4.9%). In line with average of industry peers (5.2%).
Board Change • May 10Less than half of directors are independentFollowing the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Chairwoman Benedetta Navarra was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • Mar 12Full year 2021 earnings: Revenues in line with analyst expectationsFull year 2021 results: Revenue: €1.37b (down 35% from FY 2020). Net income: €362.8m (down 5.3% from FY 2020). Profit margin: 27% (up from 18% in FY 2020). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 9.9% compared to a 5.8% decline forecast for the industry in the United Kingdom.
Board Change • Feb 21High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Andrea Mascetti was the last director to join the board, commencing their role in 2019. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.
Board Change • Jan 13High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Andrea Mascetti was the last director to join the board, commencing their role in 2019. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.
Board Change • Dec 08High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Andrea Mascetti was the last director to join the board, commencing their role in 2019. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.
Reported Earnings • Oct 29Third quarter 2021 earnings released: EPS €0.12The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: €340.3m (up 2.7% from 3Q 2020). Net income: €97.5m (up 4.7% from 3Q 2020). Profit margin: 29% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 6% per year.
Board Change • Oct 28High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Andrea Mascetti was the last director to join the board, commencing their role in 2019. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.
Board Change • Sep 17High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Andrea Mascetti was the last director to join the board, commencing their role in 2019. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.
Board Change • Aug 27High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Andrea Mascetti was the last director to join the board, commencing their role in 2019. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.
Reported Earnings • Jul 31Second quarter 2021 earnings releasedThe company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: €332.1m (down 49% from 2Q 2020). Net income: €94.9m (up 21% from 2Q 2020). Profit margin: 29% (up from 12% in 2Q 2020). The increase in margin was driven by lower expenses.
Board Change • Jul 29High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Andrea Mascetti was the last director to join the board, commencing their role in 2019. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.
Upcoming Dividend • May 17Upcoming dividend of €0.28 per shareEligible shareholders must have bought the stock before 24 May 2021. Payment date: 26 May 2021. Trailing yield: 5.0%. Within top quartile of British dividend payers (4.1%). Lower than average of industry peers (6.0%).
Reported Earnings • Mar 29Full year 2020 earnings released: EPS €0.47 (vs €0.52 in FY 2019)The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: €2.10b (up 13% from FY 2019). Net income: €383.0m (down 8.2% from FY 2019). Profit margin: 18% (down from 23% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Mar 13Full year 2020 earnings releasedThe company reported a soft full year result with weaker earnings and revenues, although profit margins were improved. Full year 2020 results: Revenue: €1.33b (down 28% from FY 2019). Net income: €345.4m (down 17% from FY 2019). Profit margin: 26% (up from 23% in FY 2019). The increase in margin was driven by lower expenses.
Analyst Estimate Surprise Post Earnings • Mar 13Revenue beats expectationsRevenue exceeded analyst estimates by 6.2%. Over the next year, revenue is forecast to grow 2.7%, compared to a 2.5% growth forecast for the Gas Utilities industry in the United Kingdom.
Is New 90 Day High Low • Feb 26New 90-day low: €4.90The company is down 10.0% from its price of €5.43 on 27 November 2020. The British market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Gas Utilities industry, which is down 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €4.48 per share.
