Appointment of new Board of Statutory Auditors and member of Board of Directors
Today’s Annual General Meeting of Acea (AGM), held in first call, has approved the separate financial statements and presented the consolidated financial statements for the year ended 31 December 2021, which report a net profit of €313.3m. The Consolidated Non-financial Statement, prepared in accordance with Legislative Decree 254/2016 (the 2021 Sustainability Report) was also presented to shareholders.
The AGM also appointed the new Board of Statutory Auditors and the member of the Board of Directors, Francesca Menabuoni.
In view of the legislation enacted in order to contain the spread of Covid-19 – in compliance with the provisions of art. 106, paragraph 4 of Law Decree 18 of 17 March 2020, as converted with amendments into Law 27 of 24 April 2020 and amended by art. 3, paragraph 1 of Law Decree 228 of 30 December 2021, converted with amendments into Law 15 of 25 February 2022 – attendance at the AGM by those entitled to do so was only permitted through the representative designated by the Company pursuant to art. 135-undecies of Legislative Decree 58 of 24 February 1998. At the start of the AGM, shareholders representing approximately 90.56% of the share capital were represented.
Financial statements for the year ended 31 December 2021
Consolidated EBITDA is up 8.7% to €1,256.1m (€1,155.5m in 2021). The improvement reflects positive performances across all the businesses.
EBIT is up 8.6% to €581.1m.
Group net profit of €313.3m increasing 10.0% year on year (€284.9m in 2020).
Capex, net of investments related to the photovoltaic assets held for sale and of grant-funded investments, rose to €931m in 2021 (up 5.1%), with 83% of the total invested in regulated assets.
The Group’s net debt totals €3,977.2m, compared with €3,528.0m at 31 December 2020. The performance reflects the higher capex, the wider scope of consolidation and an increase in working capital absorption. The change in working capital primarily reflects an increase in turnover at Acea Energia, linked to the sharp increase in the national single price of energy and the reduction in general system costs introduced by the Government to contain the impact of rising energy prices on consumers.
Net debt in accordance with the new ESMA guidance amounts to €3,988.4m.
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