Rome, 20 April 2018 – The Annual General Meeting (AGM) of ACEA SpA shareholders, having come together today in first call, approved the separate Financial Statements and presented the consolidated Financial Statements for the year ended 31 December 2017, which report a net profit, after minority interests, of 181 million Euro (214 million Euro on adjusted basis1). The 2017 Consolidated Non-Financial Declaration pursuant to Legislative Decree no.254/2016 (Sustainability Report) was also submitted to Shareholders.
Financial Statements for the year ended 31 December 2017
Consolidated EBITDA, at 840 million Euro, exceeded the guidance figure announced to the market (816 - 832 million Euro) and showed a growth on adjusted basis of 55 million Euro compared to 2016 (+7%).
EBIT, at 406 million Euro on adjusted basis, posted a downturn of 8 million Euro compared to 2016.
Group Net Profit amounted to 181 million Euro (214 million Euro on adjusted basis, up by 4 million Euro with respect to 2016). The increase in depreciation, net of the tax effect, impacted Net Profit by around 38 million Euro compared to 2016.
Investments carried out in 2017 totalled 532 million Euro, of which approximately 86% concerned regulated activities, and were essentially in line with a year earlier (531 million Euro).
Group Net Debt at 31 December 2017 was up by 295 million Euro, from 2,127 million Euro at the end of 2016 to 2,421 million Euro in 2017. On an adjusted basis2 the debt would be 2,325 million Euro (+198 million Euro compared to 2016), in line with the guidance provided to the market, indicating an improvement of around 77 million Euro compared to the forecast included in the Business Plan.
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