Press Release

EBITDA increased to 717.7 million euros (+ 6.3%), with contributions from all business areas and Corporate. Growth in EBIT (+ 7.5%) and net profit (+ 14.4%).

Reduction in net financial debt to 2,089.1 million euros, compared to 2,248.6 million euros of the 31/12/2013 and the 30/09/2014 EUR 2,412.0 million, reflecting the positive effects of the current management . The ratio of net debt / EBITDA decreased from 3.3x in 2013 to 2.9x at the end of 2014.

At the Shareholders it will be proposed to distribute a dividend for 2014 of 0.45 euros per share (59% payout).

Rome, 11 March 2015 - The Board of Directors of ACEA, chaired by Catia Tomasetti, approved the draft financial statements, the consolidated financial statements at 31 December 2014 and the 2014 Sustainability Report, which is a major tool for dialogue with all stakeholderdella society and the territory of reference.

The Ordinary Shareholders' Meeting will be convened on 23 April and 24 April 2015, on first and second call, to vote on the approval of the financial statements and allocation of net income.

The documentation of the approval of the Budget 2014 and the Reports on the other items on the agenda, provided by law, will be made available to the public in accordance with law.


"We have achieved all financial targets we set ourselves - said Catia Tomasetti, President of ACEA - and, at the same time, we started so strong and concrete modernization of all the Group companies. Through strategic investments in new technologies and the cooperation of our employees, soon all the industrial activities and the services provided by Acea will be handled digitally. This process of structural change and innovation, once completed, will transform us, in a short time, in a new multi-utility, more and more competitive. Customer focus, efficiency in the management of infrastructure and capacity to innovate are the guidelines on which we remain committed. "


"The increase in EBITDA and debt reduction are the most important sign of a company that wants to continue to innovate - said Alberto Irace, CEO of Acea -. The growth and profitability confirms cover all areas of business and, in particular, the water and energy sectors. This is accompanied by an improvement in working capital compared to 2013 and, therefore, a tangible strengthening of the financial structure. E 'on the basis of results of this type that we can work with commitment and security, the construction of the new Acea 2.0. Our goal is to create a company that, for quality of service and response times, will be able to compete with the best players in Europe ".


It is noted that, as of 1 January 2014, is mandatory the adoption of new international accounting standards on control (IFRS10 "Consolidated Financial Statements" and IFRS11 "jointly controlled Agreements"), which involves, essentially, the consolidation at equity of investments in water companies in Tuscany, Umbria and Campania (previously proportionately consolidated).

For comparative purposes, the balance sheet and income statement figures at December 31, 2013 have been restated.

It is noted that the synthetic result deriving from the equity consolidation is conventionally included as a by non-financial holdings "A contribution to EBITDA training, under" Financial income / (expense), because no events have occurred that they have led to a discontinuity nell'assetto corporate or shareholders' forecasts and activity management of the industrial partners.


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