The Shareholders' Meeting of the Apulian Aqueduct (AQP) - one of the major national players in the management of the integrated water cycle and the largest public company in the South controlled 100% by the Puglia Region - approves the 2019 integrated report, which combines the information economic-financial with non-economic information, and which presents a significant further improvement in all the main economic indicators and a net profit growing to 29,5 million euros (+31% on 2018).
"AQP confirms itself as a point of reference for the community served and consolidates itself as a driving force in support of the social and economic growth of the territory, promoting virtuous models of eco-sustainable management - commented Simeon of Cagno Abbrescia, President of Acquedotto Pugliese. These results were achieved despite one of the lowest tariffs in Europe and established by an independent third-party Authority. What makes the difference, therefore, is the quality of the work performed.
By the will of the shareholder, the profit for the year is used by the company for the continuous improvement of the water system and to support investments.
The value of production reached 563,6 million euros, marking a +3% compared to 2018, also thanks to an expansion of the integrated water service and an accurate and organic action to improve the efficiency of the structures throughout the area served.
The growth of the main profitability indicators was very positive with ROI standing at 14,38% and ROE at 8,53%.
The net financial position is positive for approximately 125 million euros, up by 57 million euros compared to 31 December 2018, demonstrating a very solid balance sheet.
On the cost side, it is useful to highlight that in 2019 these underwent an increase due to factors external to the Group and due to a management strategy of greater attention to the local area and sustainability.
In particular, the figure is influenced by greater reliance on the supply of water from reservoirs whose purification treatment is more expensive (Pertusillo and Sinni) and by the increase in costs for the disposal and transport of purification sludge for 8 million euros due to greater tons sent for recovery outside the region and smaller quantities sent for disposal in landfills according to the indications of the regulatory bodies and the international sustainability principles on waste.
This latest trend is destined to improve in 2020 when the investments aimed at improving sludge disposal through new high-performance and sustainable systems, such as thermal drying (Bari Ovest dryer), are completed.
Also with regard to the direct economic impact of AQP activities, the data are certainly positive: the total amount of the auction base of the tenders published in 2019 was approximately 650 million euros, a figure never reached before in the last decade.
The value of tenders for services and supplies launched in 2019 doubled compared to 2018, while the value relating to works increased fivefold. These data highlight the importance and centrality of the Group as an engine of local development.
Investments in 2019 amounted to 160 million euros (an increase compared to 148 million in 2018). In line with the previous year, the major interventions concerned the purification sector (approximately 65 million), in particular the implementation of actions aimed at upgrading the plants managed.
The subdivision is 54 million for infrastructural interventions, 80 for extraordinary maintenance investments and 26 for the construction of new user derivations with the relative water and sewage trunks.
During 2019, the AQP counts on a slightly growing workforce that exceeds 2 thousand employees, of which over 96% present in the Apulian territory. In the last year there has been a downward trend in the average age of employees with only 53% of workers over 50 years of age, compared to 59% in 2017. In 2019, 172 new hires were completed, with the 'inclusion of technical and operational personnel intended to enhance and improve the strategic activity of running the purification and purification plants and the management of the entire water and sewage network. Great attention was paid to the development of skills and know-how with the provision of 23.519 hours of training to employees.
The attention paid to all the company's stakeholders therefore made it possible to achieve important results in 2019, in line with the objectives set by the Sustainability Plan and the Business Plan.
As regards the forecast for 2020, most of the tenders announced in 2019 will be launched and will involve 25 Apulian municipalities, the construction of water flow measurement and control stations and the containment of pressures in about 80 networks/districts and the completion of the modernization and development of monitoring infrastructures with advanced remote control of all internal networks.
During the current year, the activities aimed at the seismic strengthening of the Pavoncelli Gallery will also be finalised.
“The 2019 budget reports data growing to positive. The origins of the Apulian Aqueduct date back to the early 900s. Today in an extraordinary situation for the country it is necessary to adopt a long-term planning and lay the foundations for a new impressive work at the service of Puglia. It is not too early to start planning the works necessary for the construction of a new large Southern Aqueduct that can satisfy an ever-increasing need for water", he concluded Simeon of Cagno Abbrescia, AQP President.
