Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Ascopiave S.p.A. is an Italy-based utility company specializing in the distribution of natural gas, operating as one of the leading national players in the sector. Headquartered in Pieve di Soligo, it manages an extensive network exceeding 20,000 km across 454 municipalities in Northern Italy, serving approximately 1.36 million users through regulated concessions and direct assignments. The company structures its operations into key segments: Gas Distribution, which accounts for about 85% of net sales; Renewable Energy, encompassing 29 hydroelectric and wind plants with a nominal capacity of 84.1 MW; and Other activities including cogeneration, heat management, integrated water services, and minority stakes in energy marketing and utilities firms. Originating from a 1956 consortium to fund gas infrastructure from hydroelectric leases, Ascopiave S.p.A. evolved into its current form in 2001 and listed publicly in 2006, employing around 495 staff under CEO Nicola Cecconato. It plays a vital role in Italy's energy infrastructure, supporting residential, commercial, and public sector needs while advancing sustainable energy production.
38.64% operating margin is above average. ROIC at 5.64%. Note that capital returns lag the margin, the business may be capital-intensive despite high margins.
Revenue up 19.2% YoY with margins expanding 12.7pp. However, free cash flow softened 7%, worth monitoring whether this is timing or structural.
Net debt of €590M represents 31.5x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
€260M
▲ +19.2% YoY
Net Income (TTM)
€85M
▲ +137.9% YoY
Op. Margin
35.89%
▲ +12.7pp YoY
ROIC
5.64%
▲ +2.6pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
€47M
▼ -7.1% YoY
Op. Cash Flow (TTM)
€154M
▲ +27.1% YoY
Net Debt
€590M
Cash & Equiv.
€36M
3Y CAGR: +14.3%
3Y CAGR: +17.2%
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