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    IG   IT0005211237

ITALGAS S.P.A.

(IG)
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Italgas S p A : sees no major impact from COVID-19 on business this year

07/27/2020 | 08:08am EDT
An Italgas vehicle is seen in front of Milan's stock exchange headquater, in Milan

Italy's biggest gas distributor Italgas said on Monday it did not expect COVID-19 to impact its business significantly this year after reporting first-half earnings just above forecasts.

In the first six months, Italgas reported a 6.6% rise in core earnings to 462.7 million euros (421.1 million pounds) compared to an analyst consensus of 461 million euros.

But the company warned it was not in a position to estimate the negative impact on business in the coming years of any significant prolongation of the health emergency.

Italy was one of the countries hardest hit by COVID-19 and there has been some concern about the risks for key energy facilities should the crisis persist.

Like other energy grid companies, Italgas has been spending on technology to run its grids more efficiently and offer clients services such as remote gas meter readings and gas leakage detection.

In the first six months investments rose 16% to almost 370 million euros.

"Thanks to the digital transformation of the last three years ... we have been able to ensure safety and continuity of service during lockdown," CEO Paolo Gallo said.

Italgas, which manages 73,000 kilometres of network, said it would continue plans to expand in Italy by competing in gas distribution tenders.

It also said further acquisitions could be completed this year following those it made last year.

(Reporting by Stephen Jewkes; editing by David Evans)


© Reuters 2020
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Financials
Sales 2021 1 388 M 1 684 M 1 684 M
Net income 2021 362 M 439 M 439 M
Net Debt 2021 4 901 M 5 946 M 5 946 M
P/E ratio 2021 12,6x
Yield 2021 5,08%
Capitalization 4 562 M 5 532 M 5 536 M
EV / Sales 2021 6,82x
EV / Sales 2022 6,99x
Nbr of Employees 3 713
Free-Float 56,2%
Chart ITALGAS S.P.A.
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Italgas S.p.A. Technical Analysis Chart | MarketScreener
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Technical analysis trends ITALGAS S.P.A.
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 5,81 €
Last Close Price 5,63 €
Spread / Highest target 22,5%
Spread / Average Target 3,05%
Spread / Lowest Target -13,0%
EPS Revisions
Managers and Directors
NameTitle
Paolo Gallo Chief Executive Officer, Director & GM
Gianfranco Maria Amoroso Chief Financial Officer
Alberto Dell Acqua Chairman
Carlo Piergallini Chairman-Supervisory Board
Alessio Minutoli Director-Corporate Legal Affairs & Compliance
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