Upcoming Dividend • Jun 01
Upcoming dividend of €0.16 per share Eligible shareholders must have bought the stock before 08 June 2026. Payment date: 10 June 2026. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 5.0%. Within top quartile of German dividend payers (4.6%). In line with average of industry peers (5.2%). Board Change • May 20
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 4 highly experienced directors. Lead Independent Director Giovanni Zoppas was the last director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Aankondiging • Mar 18
Ascopiave S.p.A. announces Annual dividend, payable on May 06, 2026 Ascopiave S.p.A. announced Annual dividend of EUR 0.1600 per share payable on May 06, 2026, ex-date on May 04, 2026 and record date on May 05, 2026. Aankondiging • Mar 16
Ascopiave S.p.A., Annual General Meeting, Apr 23, 2026 Ascopiave S.p.A., Annual General Meeting, Apr 23, 2026, at 15:00 W. Europe Standard Time. Aankondiging • Dec 16
Ascopiave S.p.A. to Report Fiscal Year 2025 Results on Mar 05, 2026 Ascopiave S.p.A. announced that they will report fiscal year 2025 results on Mar 05, 2026 Aankondiging • Nov 27
Ascopiave S.p.A. (BIT:ASC) signed a preliminary purchase agreement to acquire Societa' Impianti Metano S.R.L. from Gruppo S.I.M.E. Srl for €46 million. Ascopiave S.p.A. (BIT:ASC) signed a preliminary purchase agreement to acquire Societa' Impianti Metano S.R.L. from Gruppo S.I.M.E. Srl for €46 million on November 26, 2025. A cash consideration of €46 million will be paid by Ascopiave S.p.A, which may be subject to adjustment after closing, as is usual. Ascopiave is going to finance the acquisition through its available funds or bank credit lines first and foremost.
For the period ending December 31, 2024, Societa' Impianti Metano S.R.L. reported EBITDA of €5.4 million.
The deal shall be subject to the condition precedent of the successful completion of the so-called Golden Power procedure. Aankondiging • Jul 02
Ascopiave S.p.A. (BIT:ASC) completed the acquisition of Gas network assets from A2A S.p.A. (BIT:A2A). Ascopiave S.p.A. (BIT:ASC) signed a preliminary purchase agreement to acquire Gas network assets from A2A S.p.A. (BIT:A2A) for €430 million on December 19, 2024. A cash consideration of €430 million will be paid by Ascopiave S.p.A. As part of consideration, €430 million is paid towards assets of Gas network assets of A2A S.p.A. Ascopiave will finance the acquisition mainly through the resources derived from the exercise of the put option on its minority stake in EstEnergy and, for the remaining part, through the assumption of new financial debt.
For the period ending December 31, 2023, Gas network assets of A2A S.p.A. reported EBITDA of €44 million.
The deal is subject to the occurrence of conditions precedent as usual for this type of transaction, including the so-called Golden Power procedure. The closing is expected by July 2025.
Ascopiave S.p.A. (BIT:ASC) completed the acquisition of Gas network assets from A2A S.p.A. (BIT:A2A) on June 30, 2025. Aankondiging • Jul 01
Ascopiave S.p.A. completed the acquisition of Portfolio of assets consisting of approximately 490,000 gas distribution points in Lombardy from Unareti S.p.A. and LD Reti S.R.L. Ascopiave S.p.A. (BIT:ASC) proposed a non-binding offer to acquire Portfolio of assets consisting of approximately 490,000 gas distribution points in Lombardy from Unareti S.p.A. and LD Reti S.R.L. for €430 million on July 30, 2024. The parties agree to continue the negotiation process, and A2A grants Ascopiave an exclusive negotiation period until December 15, 2024, to carry out the usual due diligence activities with the aim of potentially reaching the signing of a binding agreement by that date.
The potential completion of the transaction will be subject, among other things, to the positive outcome of the due diligence, the negotiation of mutually satisfactory contractual agreements, the obtaining of necessary authorizations from the competent authorities, as well as the approval of the corporate bodies of A2A and Ascopiave. on December 13, 2024, , A2A S.p.A. and Ascopiave S.p.A. inform that today a technical extension of this exclusive period has been agreed from December 15 to December 24, 2024 inclusive, to allow the parties to finalize the negotiation.
Ascopiave S.p.A. entered into a preliminary purchase agreement to acquire Portfolio of assets consisting of approximately 490,000 gas distribution points in Lombardy from Unareti S.p.A. and LD Reti S.R.L. on December 19, 2024. The agreed base price for the transaction is €430 million, which reflects the valuation of the business unit as of December 31, 2023, subject to adjustment after closing, as customary. The deal is subject to the occurrence of conditions precedent as usual for this type of transaction, including the so-called Golden Power procedure.
For the year ended December 2023, the portfolio reported EBITDA of €44 million.
The closing is expected by July 2025. Ascopiave will finance the acquisition mainly through the resources derived from the exercise of the put option on its minority stake in EstEnergy and, for the remaining part, through the assumption of new financial debt.
Ascopiave S.p.A. completed the acquisition of Portfolio of assets consisting of approximately 490,000 gas distribution points in Lombardy from Unareti S.p.A. and LD Reti S.R.L. on June 30, 2025. The operation was completed following the fulfillment of the relevant condition precedents and the contribution by Unareti S.p.A. and LD Reti S.r.l. to AP RETI GAS North S.r.l. of the assets included in the aforementioned business units. The purchase price paid by Ascopiave S.p.A., which reflects the valuation of the business unit as of December 31, 2023, amounts to €430 million and will be subject to post-closing adjustments, as is customary. The transaction will be effective from July 1,
2025. Aankondiging • Apr 23
Ascopiave S.p.A. announces Annual dividend, payable on May 07, 2025 Ascopiave S.p.A. announced Annual dividend of EUR 0.1500 per share payable on May 07, 2025, ex-date on May 05, 2025 and record date on May 06, 2025. Aankondiging • Mar 17
Ascopiave S.p.A., Annual General Meeting, Apr 17, 2025 Ascopiave S.p.A., Annual General Meeting, Apr 17, 2025, at 15:00 W. Europe Standard Time. Reported Earnings • Nov 10
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: €47.2m (up 14% from 3Q 2023). Net income: €7.87m (up €7.06m from 3Q 2023). Profit margin: 17% (up from 2.0% in 3Q 2023). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Gas Utilities industry in Europe. Reported Earnings • Jul 31
Second quarter 2024 earnings released: EPS: €0.052 (vs €0.029 in 2Q 2023) Second quarter 2024 results: EPS: €0.052 (up from €0.029 in 2Q 2023). Revenue: €51.7m (up 20% from 2Q 2023). Net income: €11.3m (up 81% from 2Q 2023). Profit margin: 22% (up from 14% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 2.4% growth forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Reported Earnings • May 10
First quarter 2024 earnings released: EPS: €0.03 (vs €0.027 in 1Q 2023) First quarter 2024 results: EPS: €0.03 (up from €0.027 in 1Q 2023). Revenue: €47.4m (up 17% from 1Q 2023). Net income: €6.55m (up 13% from 1Q 2023). Profit margin: 14% (in line with 1Q 2023). Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 1.4% growth forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 10
Full year 2023 earnings released: EPS: €0.17 (vs €0.14 in FY 2022) Full year 2023 results: EPS: €0.17 (up from €0.14 in FY 2022). Revenue: €180.8m (up 11% from FY 2022). Net income: €36.1m (up 16% from FY 2022). Profit margin: 20% (in line with FY 2022). Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 1.6% growth forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Reported Earnings • Jul 30
Second quarter 2023 earnings released: EPS: €0.029 (vs €0.051 in 2Q 2022) Second quarter 2023 results: EPS: €0.029 (down from €0.051 in 2Q 2022). Revenue: €43.2m (down 8.7% from 2Q 2022). Net income: €6.24m (down 44% from 2Q 2022). Profit margin: 14% (down from 24% in 2Q 2022). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 6.0% 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 fallen by 18% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Apr 25
Upcoming dividend of €0.13 per share at 4.6% yield Eligible shareholders must have bought the stock before 02 May 2023. Payment date: 04 May 2023. Payout ratio is on the higher end at 90%, and the cash payout ratio is above 100%. Trailing yield: 4.6%. Within top quartile of German dividend payers (4.6%). In line with average of industry peers (4.4%). Reported Earnings • Mar 09
Full year 2022 earnings released: EPS: €0.14 (vs €0.21 in FY 2021) Full year 2022 results: EPS: €0.14 (down from €0.21 in FY 2021). Revenue: €163.7m (up 21% from FY 2021). Net income: €31.2m (down 31% from FY 2021). Profit margin: 19% (down from 34% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.1% 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 11% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Aankondiging • Nov 30
Acantho S.p.A. and Ascopiave S.p.A. (BIT:ASC) acquired 92% stake in Asco Tlc Spa from Asco Holding SpA and Chamber of Commerce of Treviso-Belluno for €37.2 million. Acantho S.p.A. and Ascopiave S.p.A. (BIT:ASC) acquired 92% stake in Asco Tlc Spa from Asco Holding SpA and Chamber of Commerce of Treviso-Belluno for €37.2 million on November 29, 2022. The closing of the transaction is conditional upon the fulfilment of the conditions precedent set out in the tender documents, specifically the acquisition of the necessary authorizations from the competent bodies. Ascopiave and Acantho, in partnership with stakes of 60% and 40% respectively, won the tender invited last April by Asco Holding and, subsequent to the due diligence conducted at the end of July, on 3rd November jointly submitted the binding offer, as required by the tender procedure.
Acantho S.p.A. and Ascopiave S.p.A. (BIT:ASC) completed the acquisition of 92% stake in Asco Tlc Spa from Asco Holding SpA and Chamber of Commerce of Treviso-Belluno on November 29, 2022. Board Change • Nov 16
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 1 experienced director. 3 highly experienced directors. Director Enrico Quarello is the most experienced director on the board, commencing their role in 2012. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Nov 05
Third quarter 2022 earnings released Third quarter 2022 results: Net income: (down €2.84m from profit in 3Q 2021). Revenue is forecast to grow 4.7% 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 34% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Oct 21
Investor sentiment improved over the past week After last week's 16% share price gain to €2.29, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 11x in the Gas Utilities industry in Europe. Total loss to shareholders of 25% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €3.86 per share. Reported Earnings • Aug 06
Second quarter 2022 earnings released: EPS: €0.051 (vs €0.061 in 2Q 2021) Second quarter 2022 results: EPS: €0.051 (down from €0.061 in 2Q 2021). Revenue: €47.3m (up 71% from 2Q 2021). Net income: €11.1m (down 16% from 2Q 2021). Profit margin: 24% (down from 48% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 19% compared to a 11% decline forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Reported Earnings • May 14
First quarter 2022 earnings released: EPS: €0.056 (vs €0.063 in 1Q 2021) First quarter 2022 results: EPS: €0.056 (down from €0.063 in 1Q 2021). Revenue: €34.1m (down 11% from 1Q 2021). Net income: €12.2m (down 11% from 1Q 2021). Profit margin: 36% (in line with 1Q 2021). Over the next year, revenue is forecast to grow 41%, compared to a 1.4% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Board Change • Apr 27
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 1 experienced director. 3 highly experienced directors. Director Enrico Quarello is the most experienced director on the board, commencing their role in 2012. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Mar 13
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: EPS: €0.21 (down from €0.26 in FY 2020). Revenue: €134.9m (down 18% from FY 2020). Net income: €45.3m (down 23% from FY 2020). Profit margin: 34% (down from 36% in FY 2020). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 7.1%. Over the next year, revenue is forecast to grow 26% compared to a 2.3% decline forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Aankondiging • Dec 15
Ascopiave S.p.A. (BIT:ASC) agreed to acquire Six Hydroelectric Plants Of Groupe Eva from Groupe Eva for €24 million. Ascopiave S.p.A. (BIT:ASC) agreed to acquire Six Hydroelectric Plants Of Groupe Eva from Groupe Eva for €24 million on December 15, 2021. The consideration will be paid in cash through the use of the credit lines available to the Company. The closing of the operation, subject to certain requirements including the completion of the above-mentioned transfers, is slated for end of December 2021. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS €0.10 (vs €0.034 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €33.6m (down 22% from 3Q 2020). Net income: €2.84m (down 63% from 3Q 2020). Profit margin: 8.5% (down from 18% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Apr 26
Upcoming dividend of €0.16 per share Eligible shareholders must have bought the stock before 03 May 2021. Payment date: 05 May 2021. Trailing yield: 4.1%. Within top quartile of German dividend payers (3.2%). Lower than average of industry peers (6.1%). Reported Earnings • Mar 13
Full year 2020 earnings released: EPS €0.27 (vs €0.065 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: €163.9m (up 31% from FY 2019). Net income: €58.7m (up 305% from FY 2019). Profit margin: 36% (up from 12% in FY 2019). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 7% per year and the company’s share price has also increased by 7% per year. Analyst Estimate Surprise Post Earnings • Mar 13
Revenue misses expectations Revenue missed analyst estimates by 15%. Over the next year, revenue is forecast to grow 14%, compared to a 2.5% growth forecast for the Gas Utilities industry in Germany. Is New 90 Day High Low • Jan 14
New 90-day high: €3.75 The company is up 21% from its price of €3.10 on 16 October 2020. The German market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Gas Utilities industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €2.93 per share. Is New 90 Day High Low • Dec 29
New 90-day high: €3.71 The company is up 15% from its price of €3.22 on 30 September 2020. The German market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Gas Utilities industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €2.94 per share. Is New 90 Day High Low • Nov 24
New 90-day high: €3.54 The company is up 6.0% from its price of €3.33 on 26 August 2020. The German market is up 1.0% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Gas Utilities industry, which is also up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €2.46 per share. Is New 90 Day High Low • Oct 14
New 90-day low: €3.18 The company is down 11% from its price of €3.55 on 16 July 2020. The German market is up 2.0% 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 €2.55 per share. Is New 90 Day High Low • Sep 24
New 90-day low: €3.25 The company is down 13% from its price of €3.75 on 26 June 2020. The German market is up 3.0% 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 €2.56 per share. Aankondiging • Jun 19
Hera S.p.A. (BIT:HER) acquired additional 2% stake in Ascopiave S.p.A. (BIT:ASC) from A2A S.p.A. (BIT:A2A) for €18.3 million. Hera S.p.A. (BIT:HER) acquired additional 2% stake in Ascopiave S.p.A. (BIT:ASC) from A2A S.p.A. (BIT:A2A) for €18.3 million on June 18, 2020. As per terms of transaction, Hera S.p.A. acquired 4.688231 million shares at €3.905 per share.
Hera S.p.A. (BIT:HER) completed the acquisition of additional 2% stake in Ascopiave S.p.A. (BIT:ASC) from A2A S.p.A. (BIT:A2A) on June 18, 2020.