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Stock impact report

Italgas Targets €2.8 Billion Profit by 2030 After Buying Rival [Yahoo! Finance]

JP Morgan Chase & Co. (JPM) 
Last jp morgan chase & co. earnings: 4/14 06:43 am Check Earnings Report
Company Research Source: Yahoo! Finance
(Bloomberg) -- Italgas SpA said its new plan targets nearly €3 billion ($3.3 billion) in profit by 2030 after the gas distributor sealed a deal to buy rival 2i Rete Gas. Most Read from Bloomberg The Italian company said in a statement Monday that it sees earnings before interest, taxes, depreciation and amortization reaching €2.8 billion by 2030, and it confirmed a 65% dividend payout with an increased floor to 5% annual growth. Italgas shares rose as much as 2.5% in Milan trading, touching their highest level since June 2023, and later erased gains. In the wake of the 2i Rete Gas deal, which will make Italgas Europe's largest distribution network operator, the company will invest €15.6 billion, an increase of €7.5 billion from the previous plan, according to the statement. Investments will target distribution, strengthening its presence in the water sector, and better energy efficiency, the company said. Italgas confirmed a planned investment of €1 billion in Greece via Show less Read more
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