Revenue by Segment

Financials in millions EUR. Fiscal year is January - December.

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	Dec '19 Dec 31, 2019	Dec '18 Dec 31, 2018	Dec '17 Dec 31, 2017	Dec '16 Dec 31, 2016
Water Italy	1.51B	1.43B	1.47B	1.35B	1.22B
Water Italy Growth	5.68%	-3.23%	9.18%	10.45%	3.42%
Water (Overseas)	93.00M	89.00M	96.68M	95.05M	77.07M
Water (Overseas) Growth	4.49%	-7.94%	1.71%	23.33%	23.61%
Networks and Public Lighting	782.00M	719.00M	628.43M	606.48M	-
Networks and Public Lighting Growth	8.76%	14.41%	3.62%	-	-
Environment	370.00M	362.00M	334.90M	342.37M	234.69M
Environment Growth	2.21%	8.09%	-2.18%	45.88%	17.34%
Production	110.00M	92.00M	137.89M	173.87M	125.36M
Production Growth	19.57%	-33.28%	-20.69%	38.70%	58.25%
Energy Management	375.00M	486.00M	2.48B	3.16B	2.08B
Energy Management Growth	-22.84%	-80.43%	-21.42%	52.03%	30.47%
Engineering & Infrastructure Projects	162.00M	133.00M	94.47M	116.67M	108.51M
Engineering & Infrastructure Projects Growth	21.80%	40.79%	-19.03%	7.53%	25.50%
Corporate	162.00M	148.00M	145.17M	152.20M	140.23M
Corporate Growth	9.46%	1.95%	-4.62%	8.54%	6.97%
Consolidation Eliminations	-535.00M	-539.00M	-763.94M	-856.93M	-639.35M
Energy Infrastructures - Areti	-	-	-	-	584.80M
Energy Infrastructures - Areti Growth	-	-	-	-	1.30%
Energy Infrastructures - IP	-	-	-	-	41.21M
Energy Infrastructures - IP Growth	-	-	-	-	-0.42%
Total	3.03B	2.92B	4.63B	5.14B	3.97B
Total Growth	3.77%	-37.03%	-9.91%	29.36%	17.55%

Source: S&P Global Market Intelligence.