MILAN (Reuters) – Europe’s biggest gas distributor Italgas reported on Wednesday a 14% annual rise in its 2024 adjusted core earnings, as it gears up to complete the acquisition of its smaller rival 2i Rete Gas.
Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) rose to 1.35 billion euros ($1.4 billion), as higher gas distribution revenue and positive contribution from the water business offset a fall in the energy efficiency sector.
The Italian group, which agreed in October to buy domestic peer Rete Gas in a 5.3-billion-euro deal, said it would pay a 0.406 euros per share dividend on its full-year results.
($1 = 0.9633 euros)
(Reporting by Francesca Landini, editing by Alvise Armellini)
