Price Sensitive Press Release

THE SHAREHOLDERS 'MEETING OF ACEA:

  • APPROVES 2014
  • APPROVES DISTRIBUTION OF A DIVIDEND OF 0.45 EURO PER SHARE
  • APPROVES EXPANSION OF THE BOARD OF DIRECTORS FROM 7 TO 9 STATES AND APPOINTMENT 2 DIRECTORS

 

Rome, 23 April 2015 - The shareholders of Acea Shareholders, held today in first call, approved the financial statements and presented the consolidated financial statements at December 31, 2014, which show a net profit, after allocations to third, to 162.5 million euros.

 

FINANCIAL STATEMENTS AS OF December 31, 2014
The positive contribution of all business and corporate areas, as well as the measures taken in terms of efficiency of management, have allowed in 2014 an increase in gross operating margin (EBITDA), which rose from 675.4 million euros to 717, 7 million euros (+ 6.3%), in an economic environment still characterized by considerable critical.

Operating profit (EBIT) amounted to 390.4 million euros, marking an increase (+ 7.5%) compared to 363.2 million euros recorded in 2013.

Net profit, after minority interests, increased by 14.4% to 162.5 million euros. This result incorporates the burden negative impact of 17 million euros arising from the deferred tax recalculation sull'addizionale IRES (Robin Tax). Excluding this charge, net income for the Group would have recorded a growth of over 26%.

During 2014, Acea has invested 318.5 million euros (268.6 million euros in 2013), broken down as follows: Water 148.9 million euros; Networks 122.4 million; Energy 19.7 million euros; Environment EUR 13.3 million; Parent company 14.2 million euros.

Net financial indebtedness at 31 December 2014, amounted to 2.0891 billion euros, a decrease compared to September 30, 2014 (- 322.9 million euros) and compared to 31 December 2013 (- 159.5 million euros) . This decline reflects the positive effects of working capital management (which decreased by more than 185 million euros), particularly significant in the last quarter of the year, partly due to invoicing of previous adjustments Area Water (invoicing initiated by 1 July) as well as for billing recoveries of Acea Energia.

 

The ratio of net debt / EBITDA decreased from 3.3x in 2013 to 2.9x at the end of 2014.

 

 

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