A2A, results as of 31 december 2022

Solid economic and financial performance
Continuing growth of investments to support ecological transition and the country's energy autonomy
Proposeda total dividend of 0,0904 euro per share increasing by 3% the recurring component to 0,0849 per share

• Ordinary EBITDA at 1,502 million euro, up 8% on 2021
• Net Profit at 401 million euro, down by 20% compared to 2021, also due to the effect of extraordinary contributions under legislative measures. Net of extraordinary items, Ordinary Net Profit at 380 million euro, +2% compared to 2021.
• Revenues at 23,166 million euro: +101% compared to 2021 as a result of increased commodity prices dynamics.
• Organic capex amounted to 1,240 million euro, up 15% compared to the previous year.
• Net Financial Position at 4,258 million euro (4,113 million euro of 31 December 2021) corresponding to 2.8x NFP/EBITDA lower than 2.9x in 2021.
• Proposed to the shareholders’ meeting a dividend of 0.0904 euro per share (0.0849 euro as recurring component and 0.0055 euro as non-recurring component). The total amount of the proposed dividend is intended, , to be of an ordinary nature from a stock exchange perspective.

Energy Transition

• Growth in the number of renewable energy plants with the acquisition of two wind and photovoltaic portfolios located in Italy and Spain (3New and 4New) and Volta Green Energy, a platform dedicated to the construction, development and management of renewable energy plants. As a result of these acquisitions, installed renewable capacity amounted to 2.5GW, up 12% from the previous year. Sustainability
• 638 GWh of electric energy, produced from photovoltaic and wind sources in 2022 (+104% compared to 2021).

The Group’s commitment to sustainable finance continues: during 2022, A2A successfully placed three bonds in ESG format for a total of 1.75 billion euro (one Sustainability-Linked Bond for 500 million euro and two Green Bonds for 600 and 650 million euro respectively to finance the Group’s investment projects).

Following these transactions, the proportion of sustainable debt to the Group's total gross debt as of 31 December 2022 reached 58% (44% as of 31 December 2021)

Milan, 16 March 2023 - The Board of Directors of A2A S.p.A. met today and, under the chairmanship of Marco Patuano, examined and approved the drafts of the separate financial statements and the consolidated annual financial report as of 31 December 2022, proposing to the Shareholders’ Meeting the distribution of a dividend amounting to 0.0904 euro per share (0.0849 euro as recurring component and 0.0055 euro as non-recurring component).

"The year 2022 ended positively for the A2A Group despite the worsening international and climate crisis. In a world that was waiting for recovery after the pandemic, the war in the heart of Europe brought uncertainty and instability. The drought has severely tested crops and hydroelectric production", comments Renato Mazzoncini, CEO of A2A. “In this context, we have started up new plants for the recovery of materials and the production of biomethane, strengthened the electricity grids to promote decarbonisation through the electrification of consumption, and consolidated our presence in the country with important acquisitions in the green energy generation sectors. These results were achieved thanks to the commitment and dedication of our staff, which confirm the solidity of the group and the far-sightedness of the strategy adopted in the Industrial Plan. These conditions made it possible to propose a total dividend of 0.0904 euro per share, amounting to 283 million for our shareholders, including a non-recurring dividend component of 0.0055 euro per share (amounting to 17 million euro) in addition to the planned growth of 3%”. In 2023 we will continue to work to foster A2A's growth consistent with our being a Life Company serving citizens, customers and businesses".

In 2022, the A2A Group achieved solid economic and financial results, demonstrating its resilience in dealing with the complexities of the year arising not only from the volatility of the energy markets exacerbated by the Russia-Ukraine conflict and the resulting inflation pressures, but also from the severe drought that caused a drastic drop in hydroelectric production.

The diversification and efficient management of energy sources allowed the Group to compensate for the drop in hydroelectric production resulting from the low hydraulicity.

The dynamics of the energy markets, which saw the PUN (Single National Price) Base Load stand at 303.1 €/MWh (+142.5% compared to 2021) and the average cost of gas at the PSV reach a record level of 121.9 €/MWh, (+165.9% compared to 2021) were appropriately managed by monitoring the risks arising from the volatility of commodity prices and optimising buying and selling strategies.

In this context, the A2A Group has also protected its customers from market turbulence by leveraging a policy of stabilising margins through the hedging of electricity production at a fixed price and the frontloading of supplies with a view to hedging sales: A2A Energia’s free market Mass Market customers, in fact, benefited from a saving of 53% for electricity and 40% for natural gas in 2022 compared to the tariffs on the protected market.

 

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