Funding needs: 7.3 €B between 2023 and 2030
Use of the capital markets to refinance existing and incremental debt, exploiting the most suitable instruments to provide diversification of sources and investors
- Value from assets
- Sustainable growth
- Engagement con gli Stakeholder
Value from assets
The diversification of our activities enables us to manage the value chain of energy, the environment and networks
Le sinergie industriali tra i nostri business permettono la creazione di modelli di transizione ecologica.
La qualità e il rinnovamento dei nostri asset rende concreta la generazione di valore per gli stakeholder e i territori.
Portafoglio delle attività, ottimo posizionamento per massa critica e qualità degli asset.
We are increasing our corporate resilience, reducing the level of risk
Results
2021 Beyond the expectations
| A2A Group Highlights (million euros) |
2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|
| Revenues | 11,549 | 6,848 | 7,324 | 6,494 |
| Reported EBITDA | 1,428 | 1,200 | 1,234 | 1,231 |
| Ordinary EBITDA | 1,397 | 1,187 | 1,192 | 1,192 |
| EBIT | 660 | 554 | 687 | 588 |
| EBT | 590 | 473 | 581 | 490 |
| Group net income | 504 | 364 | 389 | 344 |
| Ordinary Group Net income | 400 | 335 | 378 | 438 |
| DPS (€) | 0.0904 | 0.080 | 0.0775 | 0.07 |
| Dividend Yield (%) | 5.4% | 6.1% | 4.8% | 4.6% |
| Net Financial Position | -4,113 | -3,472 | -3,154 | -3,022 |
| Consolidated Capex | 1,074 | 738 | 627 | 500 |
| Net Free cash flow - Change in NFP | -641 | -318 | -132 | 204 |
| Manpower (units) | 13,176 | 12,907 | 12,186 | 12,080 |
M&A track record
Dynamic M&A track record
To view the current and historical track record of A2A acquisitions and disposals
Sustainable growth
We are integrating ESG issues into the development of our businesses in order to achieve ambitious growth targets and sustainability goals
Our focus on ESG issues and, in particular, on the ecological transition, embraces all our activities and provides the Business Units with solid, clear guidelines to help in their decision-making and investment plans.
Highlights
A2A will achieve carbon neutrality on direct and indirect emissions by 2040
226gCO2/kWh
Group Emission Factor @2030
5GW
RES Installed Capacity @2030
7Mt
Net waste treated @2030
85%
2021-30 CAPEX 21 related to UN SDGs
16€B
10-years cumulative Capex
2.6€B
EBITDA @ 2030
0.7€B
Ordinary Net Income @2030
26%
FFO / Net Debt @2030
The new A2A strategy centres on two mainstays of sustainability
Targets
Robust growth over the entire plan period ensuring high returns and great financial soundness
| 2021 | 2022 | 2026 | 2030 | |
|---|---|---|---|---|
| Reported EBITDA (€B) (CAGR ‘21 – ’30: 7%) |
1.43 | 1.51 | 2.1 | 2.6 |
| Ordinary Net Income (€B) (CAGR ‘21 – ’30: 7%) |
0.37 | 0.38 | 0.6 | 0.7 |
| Dividend per share (€c) | 8.24* | 8.49* | CAGR 3% | |
* Dividend per share excluding the non-recurring component
Ordinary EBITDA ENERGY BU | B€
Ordinary EBITDA WASTE BU | B€
Ordinary EBITDA SMART INFRASTRUCTURES BU | B€
Our financial strategy
We have drawn up an investment plan for our transformation, maintaining solid credit indicators with a commitment to maintain current rating
Average expected cost of debt: 3% at 2026
Expected increase in the average cost of debt in the next years, due to the interest rate scenario, mitigated by our proactive funding management
Average debt duration: >5 years between 2023 and 2030
Stability in the average maturity of the debt thanks to our prudent liability management
Sustainable Finance: >75% of ESG Debt on total at 2026
Investments aligned with the UN SDGs and EU taxonomy allow for new issues of green / sustainability-linked bonds, as occurred in 2022
FFO / NET DEBT | %
2021-30
Outlook 2023
Stakeholder engagement
Constant and proactive commitment with the financial community
Dialogue and engagement with the financial community are of vital importance to our growth.
Dividend per share
More informations
Useful resources
Services
A2A S.p.A. - P.I. 11957540153