Italgas

Italgas S.p.A. is an Italian company specialised in the distribution of natural gas.[4]

Italgas S.p.A.
Società per azioni
Traded asBIT: IG
ISINIT0005211237 
IndustryGas distribution
Founded12 September 1837 (1837-09-12) in Turin, Italy
Headquarters
Milan[1]
,
Italy
Key people
  • Alberto Dell'Acqua (chairman)[2]
  • Paolo Gallo (CEO)[2]
Revenue€1,257.9 million (2019[3])
€423.6 million (2019[3])
Number of employees
4,140 (2019[3])
ParentCassa Depositi e Prestiti 
Websitewww.italgas.it/en/

It is listed on the Milan Stock Exchange and included in the FTSE MIB index.[4]

History

The company was founded in Turin in 1837 under the name Compagnia di Illuminazione a Gaz per la Città di Torino and later changed its name several times, first becoming Società Italiana per il Gas and then Italgas S.p.A. Catholic financiers, led by Bernardino Nogara, took an interest in Italgas during the years leading up to the Second World War. Among the company's chairmen was lawyer and entrepreneur Rinaldo Panzarasa. In 1967 control of the company passed to Snam, a member of the Eni Group.[1] Under chairman Carlo Da Molo, Italgas undertook an extensive campaign to build methane distribution infrastructure, expanding considerably in Central and Southern Italy.[5] In addition to strengthening its presence in the natural gas sector, the company also expanded its operations in the complete potable water cycle and entered the solid urban waste management business. However, these businesses were later discontinued, allowing Italgas to focus on its core natural gas business.

De-listing

On 7 February 2003 Eni launched a public takeover bid, resulting in the acquisition of all outstanding shares, and thus in the de-listing of the company. In 2009 Eni sold the company to its subsidiary Snam Rete Gas, which in 2012 became Snam.

In July 2014 the company was placed under administration by commissioners due to dealings with various suppliers also subject to administration as a result of mafia infiltration.[6] The investigations conducted by the authorities and the pro-active collaboration of the parent company, Snam, allowed the Court of Palermo to rescind the order in July 2015.[7]

Return to the stock exchange

On 7 November 2016, after 13 years of absence, Italgas S.p.A. made its return to the stock exchange following the partial proportional de-merger of Snam, which involved the transfer of 86.5% of the equity interest held in Italgas Reti S.p.A. to the shareholders, at one Italgas share assigned to each five Snam shares held.[8] A new board of directors was appointed on 4 April 2019, with university lecturer Alberto Dell'Acqua as the new chairman.[9]

Major shareholders
As of 7 August 2020[4]
  • CDP Reti S.p.A. – 26.05%
  • Snam S.p.A. – 13.5%
  • Lazard Asset Management LLC – 8.6%
  • Romano Minozzi – 4.29%
  • BlackRock – 4.8%
  • Other shareholders – 42.7%

Business operations

Over time Italgas S.p.A. has expanded its operations from Turin to the rest of Italy to cover over 35% of the market, with concessions in approximately 1,800 municipalities, including some of the largest, such as Rome, managed directly or through its subsidiaries.[10][11][3]

Group structure

Museum

In 1994, after years of research and selection in its archives beginning in the Eighties, to commemorate 150 years in business Italgas created an historical archive and museum in Turin to store documents, volumes, pamphlets and advertisements of historical interest. Tools and equipment are displayed alongside paper documents to present natural gas technology from its origins.

Archive

The historical archive of Società Italiana per il Gas di Torino (covering the period 1856 – 1979)[12] includes a core set of historical documents dating from the mid-nineteenth century to 1967, chosen as a watershed year due to the inclusion of Italgas in the state-owned enterprise system through Snam. This core set has been expanded on numerous occasions over the years, and the historical archive currently extends to 1979, while the repository, occupying over approximately 1.5 km, includes documents from 1980 to 2003. The facility also includes a collection of at least 30,000 photographs of workshops, working methods, company buildings, gas metres and various celebrations, in addition to maps, designs, plans and an audiovisual collection. The archive also includes the Società azionaria per la condotta di acque potabili di Torino collection (covering the period from 1852 to the second half of the 20th century).[13]. Since 2011 the Italgas film collection has been kept in the company section of Italy's National Business Cinema Archive (covering the period 1929–1984);[14][15] it consists of institutional and advertising films illustrating the company's history from the Twenties to the Eighties.

gollark: C++ compilers are often stricter/
gollark: I should try compiling my fun and excellent malloc implementation with C++.
gollark: A dastardly trap.
gollark: So smart pointers are like Rust, but in C++ and not as well supported?
gollark: <@!341618941317349376> Do you?

References
  1. "Italgas, 180 anni pieni di energia" (in Italian). Retrieved 29 July 2019.
  2. "Italgas: Dell'Acqua nuovo presidente, a giugno il piano" (in Italian). Retrieved 29 July 2019.
  3. "Financial Report 2019" (PDF). Retrieved 7 August 2020.
  4. "Borsa Italiana – Italgas". Retrieved 29 July 2019.
  5. "La scomparsa di Da Molo intellettuale e europeista" (in Italian). Retrieved 30 July 2019.
  6. "Italgas commissariata per sei mesi, "l'Antimafia aprirà un'inchiesta"" (in Italian). Retrieved 30 July 2019.
  7. "Snam: revocata amministrazione giudiziaria Italgas, confermato Cda" (in Italian). Retrieved 30 July 2019.
  8. "Italgas torna in borsa a distanza di 13 anni" (in Italian). Retrieved 30 July 2019.
  9. "Italgas, assemblea approva bilancio e rinnova CdA. Presidente Alberto Dell'Acqua" (in Italian). Retrieved 30 July 2019.
  10. "La sfida di Italgas: spingere il digitale e consolidare il settore in Italia" (in Italian). Retrieved 29 July 2019.
  11. "Italgas, con piccole acquisizioni ulteriore crescita del 2%" (in Italian). Retrieved 30 July 2019.
  12. "Fondo Italgas". SIUSA. Sistema Informativo Unificato per le Soprintendenze Archivistiche (in Italian). Retrieved 30 July 2019.
  13. "fondo Società azionaria per la condotta di acque potabili di Torino". SIUSA. Sistema Informativo Unificato per le Soprintendenze Archivistiche (in Italian). Retrieved 30 July 2019.
  14. "Collezione filmica Italgas". SIUSA. Sistema informativo unificato delle Soprintendenze archivistiche (in Italian). Retrieved 30 July 2019.
  15. "Archivio nazionale del cinema d'impresa". SIUSA. Sistema informativo unificato delle Soprintendenze archivistiche (in Italian). Retrieved 30 July 2019.
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