Appointment of the Board of Statutory Auditors and a Board Director
Rome, 17 April 2019 – The Annual General Meeting (AGM) of ACEA S.p.A. 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 2018, which report a net profit, after minority interests, of 271 million Euro. The 2017 Consolidated Non-Financial Statement pursuant to Legislative Decree no.254/2016 (2018 Sustainability Report) was also submitted to Shareholders.
Financial Statements for the year ended 31 December 2018
Consolidated EBITDA, at 933 million Euro, exceeded the guidance figure announced to the market in November 2018, even excluding the effect of Gori’s consolidation during the last two months of 2018.
EBIT, at 479 million Euro, was up by 119 million Euro (+33%) compared to 2017, mainly following the significant growth in EBITDA.
Group net profit amounted to 271 million Euro, with an increase of 90 million Euro with respect to 2017 (+50%).
Investments carried out in 2018 totalled 631 million Euro, with a notable growth compared to a year earlier (532 million Euro), of which around 88% concerned regulated activities.
Group Net Debt at 31 December 2018 was up overall by 147 million Euro, from 2,421 million Euro at the end of 2017 to 2,568 million Euro at 31 December 2018. This variation is primarily ascribable to the investments carried out during the period. Net debt shows a decrease of 63 million Euro with respect to the figure at 30 September 2018, reflecting the improvement in working capital performance. The net debt-to-EBITDA ratio stands at 2.8x, with an improvement compared to 2.9x in 2017.
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