End-of-day quote
Borsa Italiana
|
5-day change
|
1st Jan Change
|
- EUR
|
-.--%
|
|
-.--%
|
-.--%
|
Fiscal Period: December |
2019
|
2020
|
2021
|
2022
|
2023
|
2024
|
2025
|
2026
|
---|
Capitalization
1 |
4,405
|
4,208
|
4,901
|
4,205
|
4,200
|
4,393
|
-
|
-
|
Enterprise Value (EV)
1 |
8,890
|
8,944
|
9,881
|
10,205
|
4,200
|
11,069
|
11,134
|
11,169
|
P/E ratio
|
10.5
x
|
11.1
x
|
13.4
x
|
10.4
x
|
-
|
9.3
x
|
9.26
x
|
8.83
x
|
Yield
|
4.7%
|
5.33%
|
4.87%
|
6.11%
|
-
|
6.99%
|
7.16%
|
7.85%
|
Capitalization / Revenue
|
3.5
x
|
2.92
x
|
3.58
x
|
2.74
x
|
2.37
x
|
2.37
x
|
2.31
x
|
2.19
x
|
EV / Revenue
|
7.07
x
|
6.2
x
|
7.21
x
|
6.64
x
|
2.37
x
|
5.97
x
|
5.86
x
|
5.56
x
|
EV / EBITDA
|
9.8
x
|
9.21
x
|
9.79
x
|
9.43
x
|
3.55
x
|
8.39
x
|
8.14
x
|
7.71
x
|
EV / FCF
|
-597
x
|
-634
x
|
199
x
|
-12.7
x
|
-
|
29
x
|
55.4
x
|
41
x
|
FCF Yield
|
-0.17%
|
-0.16%
|
0.5%
|
-7.87%
|
-
|
3.45%
|
1.8%
|
2.44%
|
Price to Book
|
2.82
x
|
2.42
x
|
2.59
x
|
2.22
x
|
-
|
1.7
x
|
1.54
x
|
1.47
x
|
Nbr of stocks (in thousands)
|
809,136
|
809,136
|
809,768
|
810,246
|
810,745
|
811,242
|
-
|
-
|
Reference price
2 |
5.444
|
5.200
|
6.052
|
5.190
|
5.180
|
5.415
|
5.415
|
5.415
|
Announcement Date
|
11/03/20
|
11/03/21
|
10/03/22
|
09/03/23
|
12/03/24
|
-
|
-
|
-
|
Fiscal Period: December |
2019
|
2020
|
2021
|
2022
|
2023
|
2024
|
2025
|
2026
|
---|
Net sales
1 |
1,258
|
1,442
|
1,371
|
1,537
|
1,775
|
1,856
|
1,901
|
2,010
|
EBITDA
1 |
907.5
|
971.4
|
1,009
|
1,083
|
1,184
|
1,319
|
1,368
|
1,449
|
EBIT
1 |
516
|
546.8
|
583.2
|
622.8
|
681.2
|
783.9
|
813.1
|
856.1
|
Operating Margin
|
41.02%
|
37.91%
|
42.54%
|
40.51%
|
38.38%
|
42.25%
|
42.77%
|
42.6%
|
Earnings before Tax (EBT)
1 |
547.5
|
555.6
|
525.3
|
588.5
|
586.1
|
657.5
|
691.6
|
726.9
|
Net income
1 |
417.2
|
383
|
362.8
|
407.3
|
439.6
|
469.3
|
472.9
|
504.5
|
Net margin
|
33.17%
|
26.56%
|
26.47%
|
26.49%
|
24.77%
|
25.29%
|
24.88%
|
25.1%
|
EPS
2 |
0.5200
|
0.4700
|
0.4500
|
0.5000
|
-
|
0.5822
|
0.5847
|
0.6132
|
Free Cash Flow
1 |
-14.9
|
-14.1
|
49.7
|
-803
|
-
|
382
|
200.9
|
272.5
|
FCF margin
|
-1.18%
|
-0.98%
|
3.63%
|
-52.23%
|
-
|
20.59%
|
10.57%
|
13.56%
|
FCF Conversion (EBITDA)
|
-
|
-
|
4.93%
|
-
|
-
|
28.95%
|
14.68%
|
18.8%
|
FCF Conversion (Net income)
|
-
|
-
|
13.7%
|
-
|
-
|
81.4%
|
42.48%
|
54.02%
|
Dividend per Share
2 |
0.2560
|
0.2770
|
0.2950
|
0.3170
|
-
|
0.3782
|
0.3876
|
0.4249
|
Announcement Date
|
11/03/20
|
11/03/21
|
10/03/22
|
09/03/23
|
12/03/24
|
-
|
-
|
-
|
Fiscal Period: December |
2020 S1
|
2021 S1
|
2021 Q3
|
2021 Q4
|
2022 Q1
|
2022 Q2
|
2022 S1
|
2022 Q3
|
2022 Q4
|
2023 Q1
|
2023 Q2
|
2023 S1
|
2023 Q3
|
2023 Q4
|
2024 Q1
|
2024 Q2
|
2024 Q3
|
2024 Q4
|
---|
Net sales
1 |
646.8
|
665.4
|
340.3
|
365.1
|
354
|
353.4
|
707.4
|
379.6
|
450.3
|
479.9
|
451.9
|
931.8
|
438
|
405
|
431.3
|
501.9
|
486.5
|
402.8
|
EBITDA
1 |
462.7
|
489.1
|
259.9
|
259.9
|
250
|
263.3
|
513.3
|
272.1
|
297.3
|
297.2
|
309.8
|
607
|
303.5
|
273.2
|
325.7
|
-
|
-
|
-
|
EBIT
1 |
252.8
|
279.4
|
151.2
|
152.6
|
141.9
|
154.1
|
296
|
158.9
|
167.9
|
172.5
|
186.3
|
358.8
|
177.9
|
144.5
|
192.7
|
206.9
|
197.6
|
200.9
|
Operating Margin
|
39.08%
|
41.99%
|
44.43%
|
41.8%
|
40.08%
|
43.6%
|
41.84%
|
41.86%
|
37.29%
|
35.94%
|
41.23%
|
38.51%
|
40.62%
|
35.68%
|
44.68%
|
41.23%
|
40.62%
|
49.87%
|
Earnings before Tax (EBT)
1 |
227.4
|
248.7
|
138.2
|
132
|
128.2
|
144.7
|
272.9
|
144.3
|
171.3
|
153
|
160.9
|
313.9
|
150.2
|
122
|
170.5
|
-
|
-
|
-
|
Net income
1 |
153.4
|
171.2
|
97.5
|
89.2
|
88.9
|
60.1
|
188.3
|
100.2
|
118.7
|
103.6
|
109.6
|
213.2
|
103.5
|
122.9
|
117.6
|
-
|
-
|
-
|
Net margin
|
23.72%
|
25.73%
|
28.65%
|
24.43%
|
25.11%
|
17.01%
|
26.62%
|
26.4%
|
26.36%
|
21.59%
|
24.25%
|
22.88%
|
23.63%
|
30.35%
|
27.27%
|
-
|
-
|
-
|
EPS
|
-
|
-
|
-
|
-
|
-
|
0.1200
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
Dividend per Share
|
-
|
0.2770
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
Announcement Date
|
27/07/20
|
27/07/21
|
27/10/21
|
10/03/22
|
02/05/22
|
25/07/22
|
25/07/22
|
27/10/22
|
09/03/23
|
04/05/23
|
25/07/23
|
25/07/23
|
25/10/23
|
12/03/24
|
14/05/24
|
-
|
-
|
-
|
Fiscal Period: December |
2019
|
2020
|
2021
|
2022
|
2023
|
2024
|
2025
|
2026
|
---|
Net Debt
1 |
4,485
|
4,737
|
4,980
|
6,000
|
-
|
6,676
|
6,742
|
6,777
|
Net Cash position
1 |
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
Leverage (Debt/EBITDA)
|
4.942
x
|
4.876
x
|
4.936
x
|
5.542
x
|
-
|
5.06
x
|
4.927
x
|
4.676
x
|
Free Cash Flow
1 |
-14.9
|
-14.1
|
49.7
|
-803
|
-
|
382
|
201
|
273
|
ROE (net income / shareholders' equity)
|
26.7%
|
23.2%
|
20%
|
20.4%
|
-
|
19.7%
|
18.1%
|
17.5%
|
ROA (Net income/ Total Assets)
|
6.15%
|
4.41%
|
3.76%
|
3.85%
|
-
|
4.19%
|
4.16%
|
4.03%
|
Assets
1 |
6,785
|
8,681
|
9,638
|
10,591
|
-
|
11,190
|
11,382
|
12,519
|
Book Value Per Share
2 |
1.930
|
2.150
|
2.340
|
2.330
|
-
|
3.190
|
3.510
|
3.680
|
Cash Flow per Share
2 |
0.8600
|
0.9400
|
1.030
|
0.7100
|
-
|
1.320
|
1.330
|
1.360
|
Capex
1 |
740
|
742
|
782
|
766
|
-
|
887
|
857
|
923
|
Capex / Sales
|
58.83%
|
51.44%
|
57.06%
|
49.83%
|
-
|
47.82%
|
45.1%
|
45.92%
|
Announcement Date
|
11/03/20
|
11/03/21
|
10/03/22
|
09/03/23
|
12/03/24
|
-
|
-
|
-
|
Last Close Price
5.415
EUR Average target price
5.892
EUR Spread / Average Target +8.81% Consensus |
1st Jan change
|
Capi.
|
---|
| +7.19% | 15.33B | | +33.91% | 11.1B | | +18.04% | 9.22B | | +6.84% | 8.11B | | +8.74% | 7.8B | | +36.84% | 6.24B | | +22.62% | 5.57B | | -29.18% | 5.48B | | +0.69% | 5.19B |
Natural Gas Distribution
|