Italgas signs Floene deal as Italgas stock sits 28.05 percent below its high

Published on 10/07/2026 at 10:33 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Italgas stock costs EUR 8.13 on October 7, 2026 versus EUR 8.16. Floene deal value is EUR 120.00 million and results are due October 29, 2026.

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Italgas stock was 28.05 percent below its EUR 11.30 52-week high at EUR 8.13 on October 7, 2026, while Italgas reported a binding agreement dated October 2, 2026 to acquire a 22.50 percent stake in Portugal's Floene for an equity value of EUR 120.00 million.

Floene deal broadens the network strategy

The agreement covers 100 percent of Meet Europe Natural Gas, which holds the Floene stake. Closing depends on approvals from the relevant authorities, so the transaction is agreed but not yet completed.

Floene operates about 14,000 kilometers of network and serves about 1.1 million active users, according to the Italgas release. The transaction extends Italgas's acquisition-led growth plan beyond Italy and Greece into Portugal's regulated gas distribution market.

First-half figures set a higher base

According to Investing.com, adjusted revenue rose 17.50 percent to EUR 1.09 billion in the first half of 2026, while adjusted EBITDA increased 25.00 percent to EUR 1.072 billion.

Adjusted net profit reached EUR 398.60 million in the first half of 2026, up 27.30 percent, and operating cash flow reached EUR 930.00 million. Those figures give the Floene transaction a financial-growth backdrop, although the acquisition still adds execution and approval risk.

Regulation remains the valuation counterweight

UBS kept a Buy rating but cut its Italgas target to EUR 10.60 from EUR 11.00 on September 15, 2026, citing the proposed regulatory framework for Italian gas distribution from 2028, according to MarketScreener. The revised target lies 30.26 percent above the Lang & Schwarz price.

The next scheduled reporting date is October 29, 2026, when Italgas plans to present third-quarter results, according to its investor calendar. That report will show whether first-half growth is carrying into the second half.

Italgas stock stays below its high

At Lang & Schwarz, Italgas stock was trading at EUR 8.13 on October 7, 2026 at 10:30 a.m. CEST, down 0.37 percent versus the prior close of EUR 8.16 on October 6, 2026. Market capitalization stood at EUR 8.3 billion, while the 52-week range was EUR 7.90 to EUR 11.30 as of October 7, 2026. The further course of trading is shown by the continuously updated real-time quote of Italgas stock.