Overview
Italgas is an Italian network-infrastructure company whose core business is the regulated distribution of natural gas through local pipeline networks, including metering and related data activities. It also operates in water services and energy efficiency. The group’s gas-distribution footprint spans Italy and Greece; it reported managing 156,655 km of gas network at year-end 2025.[1][2][3]
Founded in 1837, Italgas describes innovation and anticipating trends as ways to support the energy transition. In FY2025, it reported total revenue of €2,535.4 million and 6,343 employees.[3][4][5][6] [1][2][3][4][5][6][3]
Products & services
Italgas’s principal offering is regulated gas distribution and metering. Its proprietary Nimbus smart meter is designed for different gas mixtures, including hydrogen, and includes tamper, seismic and fire sensors. The company’s DANA (Digital Advanced Network Automation) platform remotely monitors and controls gas-network operations around the clock, using real-time data to support operational management and interventions.[7][8][9][10]
Italgas is also adapting and digitising its networks to support biomethane, hydrogen and synthetic gases. Through Geoside, its energy-services company, it provides energy-efficiency services to industrial, public-administration and residential customers. Other ancillary offerings include technical assistance, engineering and IT services.[11][12][13][14] [7][8][11][12][9][10][13][14]
Geographic presence
Italgas’s main operating geographies are Italy and Greece for gas distribution; its water-network and energy-efficiency operations are in Italy, while its IT services have an international presence. In FY2025, 92% of revenue was attributed to Italy and 8% to Greece.[15][16]
At 31 March 2026, the group reported gas-distribution networks in Italy (including affiliates) of 146,136 km serving 4,121 municipalities, and in Greece of 8,805 km serving 145 municipalities. Italgas’s Greek footprint spans Attica, Central Macedonia, Thessaly, Eastern Macedonia and Thrace, Central Greece, Western Macedonia, Western Greece, Epirus and the Peloponnese.[17][18] The company identifies Lazio, Sicily and Campania as principal regions for its water services.[19]
At FY2025, the reported workforce was 5,630 in Italy and 713 in Greece.[6] Identified company locations include Italgas’s historic headquarters in Turin, Italgas Reti’s registered office in Turin, and Enaon’s office in Athens; these are not a complete office inventory.[20][21][22] [16][16][17][17][17][17][17][17][6][6][15][18][19][20][21][22]
Business segments
For FY2025, Italgas identified four IFRS 8 operating segments: Gas distribution, Water service, Energy Efficiency and Corporate. Its report presents adjusted revenue and adjusted EBITDA by sector.[23][24][25]
Gas distribution covers gas distribution and metering in Italy and Greece. It generated adjusted revenue of €2,323.9 million—about 93.5% of Group adjusted revenue—and adjusted EBITDA of €1,838.2 million, about 97.6% of the Group total.[26][27] Water service covers water collection, conveyance and distribution, sewerage, and wastewater purification; its €95.4 million of adjusted revenue was about 3.8% of the Group total, and its €37.5 million of adjusted EBITDA was about 2.0%.[28][27] Energy Efficiency includes energy-efficiency measures for residential and industrial customers; its €92.9 million of adjusted revenue was about 3.7% of the total, and its €14.4 million of adjusted EBITDA was about 0.8%.[29][27]
The Corporate segment comprises services provided to third parties by Italgas, the parent company. It reported €126.2 million of adjusted revenue—about 5.1% of Group adjusted revenue—and negative adjusted EBITDA of €6.7 million. Revenue shares are calculated against total adjusted revenue of €2,484.2 million; they do not sum to 100% because the report separately records €154.2 million of intrasector revenue eliminations.[30][27] [23][24][25][26][27][27][28][27][27][29][27][27][30][27][27][27][27]
Company history
Italgas traces its origins to the Compagnia di Illuminazione a Gas, established in Turin in 1837. The company was listed on the Turin Stock Exchange in 1851 and, following a merger and reorganisation in 1862, took the name Società Italiana per il Gas. In 1967 it entered the state-owned SNAM/ENI group; after ENI’s takeover bid in 2002, Italgas was delisted in 2003.[31][32]
Snam Rete Gas acquired Italgas from ENI in 2009. In 2016, Italgas was separated from Snam and returned to the stock market as an independent listed company.[33][34] Italgas expanded internationally by completing its acquisition of Greece’s DEPA Infrastructure in 2022. In 2025, it acquired 2i Rete Gas and merged it into Italgas Reti.[35][36][37] [34][36][31][32][33][35][37]
Sources
- ITALGAS — Full financial report (2025 Y)
- www.italgas.it[3]
- ITALGAS — Presentation (2025 Y)[5][16]
- www.italgas.it[9]
- www.italgas.it[10]
- www.italgas.it[13]
- www.italgas.it[14]
- www.italgas.it[15]
- ITALGAS — Presentation (2026 Q 1)[17]
- www.italgas.it[18]
- www.italgas.it[19]
- www.italgas.it[20]
- www.italgas.it[21]
- www.italgas.it[22]
- www.italgas.it[31]
- heritagelab.italgas.it[32]
- www.snam.it[33]
- www.italgas.it[35]
- www.italgas.it[37]
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