Just as in 2011, Finanziaria Sviluppo Utilities (the joint holding company through which Genoa and Turin control the Iren utility) does not detach any coupons from the Municipalities. Indeed, another problem emerges from the 2012 financial statements: a derivative with Goldman Sachs in the red for 20,7 million which, in the next few years, could represent a threat to the company's accounts.
Thanks to the dividends of 22,2 million received by Iren (of which it controls 33,3%) Fsu closed 2012 with a profit of 14,7 million, but the directors preferred to set aside this sum after covering the record red Last year (259 million) all reserves had been practically zeroed.
