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A2A results as at december 31 2023

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Excellent economic and financial performance

Investments for the ecological transition continue to grow

Proposed total dividend of 0.0958 euro per share, up 6%

Commitment to sustainable finance continues

 

  • Ordinary EBITDA at 1,930 million euro, up 30% compared to 2022.
  • Net profit at 659 million euro, up 64% compared to 2022. Net of extraordinary items, Net Ordinary Profit at 635 million euro, +67% compared to 2022.
  • Revenues of 14,758 million euro: -36% compared to 2022 as a result of the downward trend of commodity prices.
  • Organic capex amounted to 1,376 million euro, up 11% on the previous year.
  • Net Financial Position: 4,683 million euro (4,258 million euros at December 31, 2022), corresponding to 2.4x NFP/EBITDA, down from 2.8x in 2022.
  • A dividend of 0.0958 euro per share was proposed to the shareholders' meeting, up 6% compared to the dividend distributed last year (0.0904 euro per share).

 

Energy transition

  • Acquisitions of corporate vehicles aimed at the development of new photovoltaic plants in Friuli Venezia Giulia (VGE05 –Santo Stefano) and Veneto (Juwi Development 12 S.r.l. and Juwi Development 13 S.r.l.) for a total of 80MW.
  • 428 GWh of renewable energy produced from wind sources, +71% compared to the previous year, thanks to the acquisitions  made in 2022 and the start-up of the Matarocco plant.
  • Growth in the customer base in the energy retail segment: +420 thousand compared to December 31, 2022.

 

Sustainability

  • Direct carbon dioxide emissions (Scope 1) down 36% compared to 2022 levels.
  • Eligible capex equal to 72% and aligned for 46% for the purposes of the European Taxonomy.

 

The Group's commitment to sustainable finance continues: In 2023, A2A successfully placed a new Green Bond of 500 million euro. Following this transaction, the share of sustainable debt in the Group's total gross debt reached 70% as at December 31, 2023 (58% as at December 31, 2022). A2A has also signed a new loan of 200 million euro, not yet drawn as of December 31, 2023, in line with REPowerEU, to support the electrification of consumption and the use of energy from renewable sources, to promote the decarbonisation
of the country.
In 2023, the Group signed a credit line for Green guarantees aligned with A2A's Sustainable Finance Framework and the EU Taxonomy.

***

Milan, March 12, 2024 - The Board of Directors of A2A S.p.A., under the chairmanship of Roberto Tasca, has examined and approved the draft Separate Financial Statements and the Consolidated Annual Report as at December 31, 2023.

"Thanks to the contribution of all the Group's Business Units and Companies, we ended 2023 with the best results ever and a net profit up 64% compared to 2022" - comments Renato Mazzoncini, CEO of A2A - "During the year we accelerated investments for the improvement and strengthening of the electricity distribution networks, the growth of renewable production -in particular from wind and photovoltaic-, the flexibility of generation plants and the recovery of materials and energy. We have proposed a dividend of 0.0958 euro per share, or 300 million euro, an increase of 6%. These are important goals that have been possible thanks to the work and dedication of all our people. We are ready to continue with the same commitment to help equip the country with strategic infrastructure for the ecological transition."

In 2023, A2A achieved excellent economic and financial results thanks to the excellent performance of the Generation & Trading and Market Business Units and the positive contribution of the other Business Units.

During the year, the Group was able to benefit from a gradual stabilization of the energy context in which it operates: 2023, in fact, saw an easing of the strong tensions on the energy markets that had characterized 2022, with wholesale electricity and gas prices falling significantly. The PUN (Single National Price) Base load decreased by 58% (from 303.1 €/MWh in 2022 to 127.4 €/MWh in 2023, aligning with 2021 levels) and the average cost of gas at the PSV by 65.3% (from 121.9 €/MWh to 42.3 €/MWh). In this context, the A2A Group has adopted effective hedging strategies, optimized its integrated electricity production portfolio and launched profitable commercial actions, consolidating and expanding its customer base.

 

Contacts:

Giuseppe Mariano
Media Relations, Social Networking and Web Manager

Silvia Merlo - Silvia Onni
Press Office
ufficiostampa@a2a.it
Tel. [+39] 02 7720.4583

Marco Porro
Investor Relations Manager
ir@a2a.it Tel. [+39] 02 7720.3974

 

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