Acea: board approves results for 9m 2012PDF , 267kb
Consolidated revenue: 2,651.3 million euros, up 6.8%
Pro forma EBITDA : 484.6 million euros, up 3.1%
492.9 million euros, up 4.9% excluding Antitrust fine
Pro forma EBIT1: 221.3 million euros, up 62.1%
229.6 million euros, up 68.2% excluding Antitrust fine
Group Net profit:
Pro forma Group Net profit1: 56.4 million euros, down 11.0%
64.7 million euros, up 2.1% excluding Antitrust fine
Rome, 12 November 2012 – A meeting of the Board of Directors of Acea SpA, chaired by Giancarlo Cremonesi, has approved the report for the nine months ended 30 September 2012 (9M 2012).
Despite continuing macroeconomic uncertainty and difficulties, the Acea Group’s results for 9M 2012 show significant increases in operating margins across all areas of business. The improvement in earnings was driven by organic growth, essentially reflecting the measures taken by management to boost operating and organisational efficiency.
The results for 9M 2011 reflect provisions made in response to uncertainty surrounding recovery of tariff adjustments due to ATO5-Frosinone and Gori and inclusion of the joint venture with GdF Suez Energia Italia (the unwinding of which was completed on 31 March 2011). The results also, therefore, include the gains realised as a result of the unwinding.
It should also be noted that during the third quarter of 2012 the Council of State judgement overturning the previous judgement handed down by Lazio Regional Administrative Court, and thereby confirming the fine imposed by the Antitrust Authority on Acea (8.3 million euros) and Suez Environnement in 2007 for anti-competitive practices following their joint participation in the bidding process organised by the Municipality of Florence for the acquisition of 40% of Publiacqua (the company that manages water services in Florence), was published. The Company will explore all options open to it before the competent courts in order to challenge the Council of State judgement.
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