A2A archive the first semester with strong growth in net income: +70% over the year, at 267 million euros. The figure, the company reports in a press release, was significantly influenced by the effects of the renegotiation that took place during 2018 of the agreement for the exercise of the put option on the entire share capital held by A2A in the Montenegrin company epcg. In addition, the stake in the Rudnik Uglija coal mine in Pljevjia was sold, with a capital gain of 6 million euros.
In any case, the share on the A2A Stock Exchange runs in the middle of the day, registering an increase of 2,14%, among the best of the Ftse Mib.
As for the other figures in the budget, theordinary net profit, excluding the Epcg effects, was up by 2%. EBITDA amounted to 657 million euros (+3% compared to the first half of 2017), with significant organic growth in ordinary EBITDA (+7%).
In the first half of 2018, the revenues of the A2A group amounted to 3.081 million euros, an increase of 277 million euros compared to the previous year (+9,9%). The investments amounted to 187 million euros, up by 21% compared to the first half of 2017. Thenet financial debt, equal to 3,03 billion euros, improved by 196 million euros compared to -3,226 billion euros as at 31 December 2017.
As for forecasts for the full year, the group confirms the indications provided in previous months: EBITDA between 1.150 and 1.180 million euros (plus 20-30 million euros of positive non-recurring items) and "net profitability around 400 million euros". The final balance for the 2018 financial year will also see the contribution, starting from 2018 July XNUMX, of the line-by-line consolidation of the group Acsm-Agam following the positive conclusion of the aggregation project of the Multiutility del Nord. Also confirmed the expectations on the generation of net cash of approximately 100 million euro.
The takeover bid by A2A and Lario Reti Holding on the minorities of Acsm-Agam will start on August 20 and end on September 7, 'this is a timing already agreed with the Authorities'. This is what the CEO of A2A, Valerio Camerano, declared in a conference call with journalists, commenting on the half-yearly accounts. The disbursement for the offer, which will take place at 2,47 euros per share for a total amount of less than 50 million euros, will be 73% by A2A and the remainder by Lario Reti Holding, a company which belongs to the Communes of Lake Como.
