Positive third quarter for Acea, the multi-utility active in the management of water and electricity services. The Roman company achieved a turnover of 2,04 billion euros. Turnover decreased by 1,2% compared to the same period of last year, but increased on an adjusted basis by 67 million (+3%) compared to the same period of 2016. The analysts' expectations are therefore confirmed.
In the first nine months of the year, Acea reported a net profit of 152,6 million euros, 24% less than the 200,91 million recorded in the same period of 2016. On an adjusted basis, profit would have grown by 16% 173 million euros. Conversely, Acea's debt increased, due to the investments made (for 369 million euros) and to the change in the scope of consolidation.
The management confirmed the operating margin target for 2017, with the aim of containing thanks to the improvement trend in profitability.
Ebitda grew in 2017 (+4%-6%). The water sector recorded an Ebitda of 264 million, +6% thanks to the increase in tariffs. The Ebitda of energy infrastructures also increased, while for the commercial and trading sector it fell by 13 million. Lastly, for the waste management area, Ebitda grew by 11%, a figure influenced by the better performance of the plants and the greater quantities of electricity sold.
During the presentation of quarterly data. Acea's CEO Stefano Donnarumma intervened on the company's future plans: “Acea, as you know, is working on an industrial discontinuity plan based on: industrial growth linked to important infrastructure investments (primarily on regulated businesses); strengthening of the relationship built with local stakeholders; technology development, focus on innovation, quality of services and operational efficiency”.
