Italgas sees double-digit income growth to 2030, ups minimum dividend rise
Adds efficiency savings from acquisition, details
By Francesca Landini and Cristina Carlevaro
MILAN, Oct 7 (Reuters) -Italy's biggest gas distributor Italgas IG.MI expects double-digit growth in net income and core profit under a new plan to 2030, after signing a 5.3 billion euro deal to acquire smaller rival 2i Rete Gas on Saturday.
The group said on Monday it would ensure its dividends grew 5% annually until 2026, starting from the payout for 2023, compared to a previous minimum of 4%, while confirming it would pay out 65% of adjusted net income per share.
It pledged to invest 15.6 billion euros ($17.11 billion) over the next seven years to complete the acquisition of 2i Rete Gas, develop gas distribution in Italy and Greece and strengthen its presence in the water sector.
As well as consolidating Italy's gas distribution sector, the acquisition of 2i Rete Gas, the country's second-biggest gas distributor, will create a leading player in Europe.
The group said it would launch a rights issue of 1 billion euros to fund the deal, which will likely require antitrust remedies.
Italgas expects to save 200 million euros in cost efficiencies after the deal. In addition, it anticipates an increase in revenue due to investment for the complete digital overhaul of the 2i Rete Gas network.
Turnover is forecast to reach 3.6 billion euros, with core earnings of 2.8 billion euros by 2030.
This represents an average growth rate of 13% for earnings before interest, taxes, depreciation and amortisation (EBITDA) and net profit, and about 10% for earnings per share.
($1 = 0.9115 euros)
Reporting by Cristina Carlevaro and Francesca Landini, editing by Giulia Segreti, Kirsten Donovan
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
