The A2A Board of Directors has approved the financial results for 2017. The Lombard multiutility recorded revenues for 5,9 billion euros, an increase of 16% compared to 2016 thanks to the sale of electricity and gas on the wholesale markets.
Strong growth is also theNet income, at 293 million euro, +26% compared to the previous year. The result was mainly determined by the devaluation of EPCG, the Montenegrin electricity company that the Lombard group controlled together with the government of the Balkan state. A2A announced the exercise of the put option in July 2017, selling the entire share package held, equal to 41,7%.
Net operating result up, equal to 706 million euros compared to 473 million in 2016, thanks and above all to the effects deriving from the lower write-downs of assets and goodwill.
The net financial position it stood at 2,36 billion euro, an improvement of 368 million compared to 2016. During the year approved, operating management generated resources of 613 million euro.
The BoD then resolved to propose to the Ordinary Shareholders' Meeting the approval of a ordinary dividend equal to 0,0578 euro for each of the outstanding ordinary shares (corresponding to total dividends of approximately 180 million euro), up by 17,5% compared to the previous year. The dividend will be paid starting from 23 May 2018 (ex-dividend date 21 May 2018 – record date 22 May 2018).
Simultaneously with the approval of the draft Financial Statements, the BoD also approved the tenth annual report on the Group's sustainability performance: in 2017, the group made investments with environmental implications for 78 million euro and recorded 906 new hires. Avoided CO6 emissions grew by 2%, thanks to the development of renewable sources (acquired two companies active in the solar energy sector), cogeneration and energy recovery from waste.
Separate collection it reached 63,2% on average (vs 56,2% in 2016) and 99% of the municipal waste collected was sent for material recovery (67,5%) or energy (31,5%).
