Acea closed 2020 with revenues up 6% to 3,3379 billion, an ebitda equal to 1,155 billion euros, up by 11% compared to 2019, and a ebit up 2,3% to 535. L'Net income it increased by 0,4% to 285 million (normalised net income shows an increase of around 22%). The company recalls that the net profit for 2019 included: the recognition of the contingency for the cancellation by the Tar of the fine imposed by the Agcm; the release of the provision for Gala; recognition of the commercial water award; the contribution of Cip 6 for the Environment area. The 2020 net profit instead includes non-recurring items mainly for revaluations related to the consolidation of AdF.
Going on with the other parameters, net financial debt rose from €3,063 billion to €3,528 billion, in line with guidance. The rise is also due to the investments realized during the year, which reached 907 million from 792,8% of the previous year (+14,4%). Investments, 84% destined for regulated activities, are broken down as follows: Water 476 million, Energy Infrastructure 325,1 million, Commercial and Trading 44,1 million, Environment 23,6 million, other business areas and Parent Company 38,2 ,XNUMX millions.
By virtue of the results achieved, the company has decided to increase the dividend by 2,6% compared to 2019, establishing a coupon of 80 cents per share, with a payout of 60%, determined on the net result after attributions to third parties. The detachment of the coupon is scheduled for June 21, while the payment will take place two days later.
“For 2021, even in a still difficult scenario, we expect further growth in results”. the CEO of Acea, Giuseppe Gola. The guidance 2021 in fact, it forecasts an increase in Ebitda of between 6% and 8% compared to 2020, investments of approximately 900 million and net financial debt of between 3,85 and 3,95 billion.
Going back to 2020, the trend in the result shows organic growth of more than 10%, underlines Acea, referring above all to a "positive performance of the regulated water and electricity distribution activities". In detail, the contribution of individual industrial areas the consolidated Ebitda, of which approximately 85% refers to regulated activities, is as follows: Water 53%; Energy Infrastructure 36%; Commercial and Trading 6%; Environment 4%; other Businesses (International and Engineering and Services) and the Parent Company 1%.
"In 2020, in a context characterized by the serious pandemic, we were able to manage the crisis by continuing to guarantee essential services for citizens, maintaining a high level of efficiency and quality even in the most difficult months, thanks to the commitment of all our people and the investments made in innovation and digitalisation. The results, despite a challenging context, are growing compared to last year and are higher than the guidance communicated to the market and testify to a high capacity for resilience and reaction to complex situations”, highlighted the CEO Gola. “The results achieved – he continues – also made it possible to propose to the shareholders' meeting an increasing dividend compared to the previous year, confirming the provisions of the Business Plan for 2020”.
After the publication of the accounts, in Piazza Affari the Acea title earns 2,27% to 17,56 euros.
