# Italian firms H1 2026 earnings

> Live situation record from CLSTR: https://clstr.news/situations/italian-companies-h1-2026-earnings
> Updated: 2026-07-28T10:55:12.000Z. Sources: 27. Developments: 2.

In the first half of 2026 Italy’s gas distributor Italgas continued its strong performance, reporting adjusted EBITDA of €1.07 billion, a 25 % year‑on‑year rise, and net profit of €398.6 million, up 27 %. Revenue grew 17.5 % to €1.324 billion and technical investment jumped 55 % to €765 million, supporting network expansion and digitalisation. The integration of the 2i Rete Gas unit, completed in April 2025, has brought the group to 41.8 % of its 2032 synergy target. Italgas outlined a €1 billion investment plan for 2026‑2032, allocating more than €640 million to its Greek subsidiary ENAON and targeting construction of over 2,700 km of new gas pipelines, alongside LNG stations, biomethane units and smart‑meter roll‑out.

Scooter and motorcycle maker Piaggio reported consolidated revenue of €880.1 million (€841.9 million at current rates), a 3.2 % increase, and net profit of €30.4 million, up 1 %. EBITDA reached a record €148.6 million, delivering a 17.7 % margin, while EBIT was €74.4 million (8.8 % margin). The second‑quarter results showed revenue of about €515 million (constant rates), up roughly 7 %, with EBITDA of €91.2 million and EBIT of €54.5 million, underscoring solid quarterly growth.

Together, the figures illustrate sustained profitability and significant capital spending by two of Italy’s major industrial groups during H1 2026.

## Claims

- Italgas reported adjusted EBITDA of €1.07 billion in the first half of 2026, a 25 % increase compared with the same period in 2025. (corroborated by 3 sources)
- Adjusted net profit attributable to shareholders was €398.6 million in H1 2026, up 27.3 % year‑on‑year. (corroborated by 3 sources)
- Adjusted revenue for the first half of 2026 reached €1.324 billion, a 17.5 % increase over the same period in 2025. (corroborated by 2 sources)
- Technical investments rose 54.6 % year‑on‑year to €765.2 million in the first half of 2026. (corroborated by 2 sources)
- Integration of 2i Rete Gas into Italgas began on 1 April 2025, contributing to synergies and growth. (corroborated by 2 sources)
- By the end of June 2026 Italgas had achieved 41.8 % of its 2032 synergy target. (single source)
- Italgas plans total investments of about €1 billion for 2026‑2032, with more than €640 million allocated to Greece. (single source)
- The company intends to add over 2,700 km of new gas network by 2032, increasing consumer coverage to more than one million. (single source)

## Timeline

### 2026-07-28: Piaggio posts €880.1 million first‑half revenue, EBITDA record

Piaggio’s board, chaired by Matteo Colaninno, reported first‑half 2026 revenue of €880.1 million (up 3.2%) and a record EBITDA margin of 17.7%, with net profit of €30.4 million.

5 sources. https://clstr.news/cluster/piaggio-posts-8801-million-firsthalf-revenue-ebitda-record

### 2026-07-27: Italgas posts 25% EBITDA rise and €398 m profit in H1 2026

Italgas posted €1.07 bn EBITDA (+25%), €398.6 m net profit (+27.3%) and €1.324 bn revenue in H1 2026, with €765 m technical investments and a €1 bn 2026‑2032 investment plan, driven by 2i Rete Gas integration.

22 sources. https://clstr.news/cluster/italgas-posts-27-profit-rise-in-h1-2026-with-3986-million-net-earnings

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Cite as: Italian firms H1 2026 earnings. CLSTR, https://clstr.news/situations/italian-companies-h1-2026-earnings