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Our business is closely involved in people lives.

We ensure residents receive essential services for their daily life.

At your side in your community

Managing your water services. Distributing energy. Selling electricity and gas. Recycling waste. Our one objective: to create value for the people and the community in which we operate.

Nowadays, innovation is at everyone's fingertips.

Acea sees innovation as the driving force to become more efficient, to raise the quality of life for our customers, to improve services for the residents and the community. Acea has used all this to create a new culture of innovation: an open culture, which everyone can share and take part in.

Our Group serves local communities and their citizens.

We are fully aware of our role of responsibility towards our stakeholders for our major economic, social and environmental impact. This is why our Sustainability Plan is part and parcel of our Business Plan.

The latest news from the Acea world

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Our stories

Technology, sustainability, and talent development: we tell the story of Acea through our people, projects, and initiatives for the local communities.

Economic-financial and business objectives

The 2024-2028 Business Plan, presented on 6 March 2024, features a steady increase in investments and RAB, which will translate into a solid growth in economic and financial results.

The 2024-2028 “Green Diligent Growth” Plan, focused on consolidation of our infrastructure leadership in the regulated sectors pertaining to Water, Electricity and Environment, leverages financial discipline with regard to costs and investments, to support cash generation and optimise our financial structure and capital allocation.

Green Diligent Growth: Targets

		From 2020-2023	To 2028
Green	% regulated EBITDA¹	87%	90%
Green	ESG linked Capex (yearly)	0.4 bn€	1.0 bn€
Diligent	EBITDA margin	30%	43%
Diligent	NFP/EBITDA	3.5x	3.1x
Growth	Total Capex (yearly)	1.0 bn€	1.5 bn€
Growth	Net Profit (CAGR)	1%	5%

1. Regulated Includes, in addition to the regulated businesses Water Italy and Networks, the Public Lighting and Environment business

Main economic-financial targets

	2023	2026P	2028P	CAGR 2023-2028
EBITDA(million €) Net Profit(million €)	1.391 294	1.630 350	1.800 375	+5% +5%
RAB(billion€)	7,4	9,6	10,5	+7%
NFP/EBITDA(x)	3,5x	3,4x	3,1x

Overall investments will amount to €7.6 billion, with average annual capex corresponding to €1.5 billion, compared with around €1 billion during the period 2020-2023.

EBITDA during the plan period shows an annual average growth of over 5%, to reach €1.8 billion by the end of 2028 (of which 90% from regulated businesses), compared with €1.4 billion in 2023 (+29%). This increase is attributable above all to organic growth and operating efficiency.

Net profit will also have a CAGR of 5% during the plan period.

Consolidated RAB (Regulatory Asset Base) will reach €10.5 billion by 2028, up by 42% compared with 2023, indicating a CAGR of over 7% during the plan period.

The substantial operating cash flow generated during the plan period, together with the overall improvement in working capital, will also guarantee an expected reduction in the NFP/EBITDA ratio from 3.5x in 2023 to 3.1x in 2028.

Dividends will show a steady growth throughout the plan period: we anticipate a total distribution of €1 billion.

The objectives as regards our main business sectors

Water

EBITDA of the Water Italy regulated business is expected to show a steady increase (CAGR 2023-2028 +7%), driven by organic growth.
We aim to carry out a structured investment plan worth €4.7 billion to develop high quality and reliable infrastructures, enabling further improvement of operating efficiency in resource management.
RAB in 2028 is expected to reach €6.9 billion.

Electricity

EBITDA pertaining to the Electricity sector is expected to steadily increase (CAGR 2023-2028 +2%), mainly thanks to development investments, from €0.5 billion in 2023 to €0.6 billion in 2028. Overall investments during the plan period will amount to €2.0 billion.

RAB is expected to reach €3.7 billion by 2028.

Environment

EBITDA pertaining to the Environment business is expected to increase during the plan period (CAGR 2023-2028 +13%), from €84 million in 2023 to €155 million in 2028. Investments, totalling almost €500 million, will enable a growth in waste treatment capacity. The volume of waste treated is expected to reach 2.2 million tonnes by 2028 (1.8 million in 2023).

Economic-financial and business objectives