Acea closed the first half with investments up by 21%, reaching the remarkable figure of 342 million. This had an impact on financial debt, which rose to 2,8 billion (compared to 2,5 in the first half of 2018) but also on theEbitda which grew by 12% at 503 million and on the group's net result which is confirmed at 143 million, in line with the performance of the first six months of 2018.
With these numbers in hand, the CEO of Acea, Stefano Donnarumma believes he "revises upwards the guidance for the year, at Ebitda level, compared to what has already been communicated to the market". An increase, he observes, “directly attributable to the important investment plans that the Group is carrying out in its infrastructures in the regulated businesses, in line with the provisions of the 2019-2022 Business Plan. Greater operational efficiency in the management of our industrial assets and rigor in financial management are further factors that contribute to strengthening and increasing the Group's results." As for the new guidance on Ebitda, the estimate takes into account the trend of the first six months and no changes are expected. Forecasting annual growth equal to or greater than 7% is "pessimistic and prudential", the CEO continues in the conference call, because it also takes into account possible unforeseen events such as a change to the CIP 6 system could be.
Donnarumma looks to the doubling of the Peschiera aqueduct and confirms the hope that the construction site can be started "by 2020" after "the procedural process for the renewal of the concession has been concluded" which will expire in September 2031. " We had been waiting for it for 24 years – adds the CEO – because the renewal of the concession represents a preparatory act for the construction of the second line of the aqueduct”. And so now you can look at the construction site with more confidence.
Il water sector gave an EBITDA up 27% mainly for Ato 2 (Rome and province) and 5 (Frosinone and province) which mark increases, respectively of 15 and 1 million, and the consolidation of Gori, explains the note from the Acea group.
For the future, the group looks to waste cycle as a boost for the development and acquisition of 90% Demap, owner of a plastics treatment plant “is absolutely consistent with our strategy, which means entering a business and acquiring its know-how. After all, we don't buy 100% but we enter into partnerships with those who already know that world since we intend to double, and even triple the business not only with the acquisition of plants but also of know-how and team. There will also be space for operations in other areas of Italy”. The group does not rule out an interest in Rome, afflicted by a waste crisis that seems irreversible: "We are willing to evaluate, and the authorities know it, that we are players in the plant development of these territories".
