A2A forms part of the following indices
- FTSE MIB
- STOXX Europe 600
- STOXX Europe Utilities
- EURO STOXX
- EURO STOXX Utilities
- MSCI Europe Small Cap
- WisdomTree International Equity
- S&P Global Mid Small Cap
The A2A share (ISIN Code: IT0001233417) is traded on Euronext Milan (“EXM*”) run by Borsa Italiana; it is part of the FTSE-MIB segment and comes under "utilities-electricity".
In this section are reported the key financial data relating to A2A share, as follows.
|Key figures||Unit of measurement||Value|
|Average price||euro per share||1.37||1.68||1.32||1.60||1.52||1.42||1.18||1.09||0.84||0.64||0.50||0.98||1.20|
|Lowest price||euro per share||0.95||1.31||1.00||1.43||1.39||1.23||0.96||0.79||0.70||0.39||0.29||0.69||0.99|
|Highest price||euro per share||1.74||1.95||1.90||1.81||1.69||1.64||1.29||1.35||1.03||0.91||0.79||1.18||1.47|
|Number of shares||million||3,133||3,133||3,133||3,133||3,133||3,133||3,133||3,133||3,133||3,133||3,133||3,133||3,133|
|Average market capitalisation||million of euro||4,292||5,259||4,143||5,011||4,763||4,455||3,685||3,405||2,639||1,990||1,574||3,058||3,773|
|% of share
|2021 - 2022||3,132,905,277||0.52||1,629,110,744||0||0.00%|
|2016 - 2020||3,132,905,277||0,52||1,629,110,744||23,721,421||0.76%|
|2009 - 2015||3,132,905,277||0.52||1,629,110,744||26,917,609||0.86%|
From 2008 to 2022 (current date) neither changes in share capital nor stock splits have occurred
At 31 December 2022, A2A share capital amounts to 1,629 million euros, divided into 3,132,905,277 shares with a par value of 0.52 euro each. All shares are voting shares, although - as laid down in art. 9 of by-laws - no individual shareholder other than the Municipality of Milan and the Municipality of Brescia may hold an equity interest exceeding 5% of the share capital. Should such ceiling be exceeded, the voting right attached to the shares held in excess of 5% of the share capital may not be exercised.
On 29 April 2021 A2A Shareholders’ Meeting confirmed the purchase and disposal of treasury shares. A2A currently didn’t holds own shares.
|31 december 2022||31 december 2021|
|Municipality of Brescia||25%||25%|
|Municipality of Milan||25%||25%|
After 31 December 2021 no changes in relevant shareholders (stakes higher than 3% of the share capital) have occurred
|Cluster||Number of shareholders||%||Number of ordinary shares||%|
|1 - 100||2,639||3%||115,702||0.0%|
|101 - 500||9,381||12%||4,402,253||0.1%|
|501 - 1,000||14,816||20%||14,258,897||0.5%|
|1,001 - 5,000||32,298||43%||84,794,564||2.7%|
|5,001 - 10,000||8,338||11%||57,345,883||1.8%|
|10,001 - 50,000||6,538||9%||118,944,205||3.8%|
|50,001 - 100,000||744||1%||46,232,224||1.5%|
|100,001 - 500,000||637||1%||127,181,553||4.1%|
|500,001 - 1,000,000||154||0%||101,376,449||3.2%|
|1.000.001 - 99,999,999,999||196||0%||2,578,253,546||82.3%|
A2A has about 76,000 shareholders, divided between institutional investors and retail investors. The institutional investors (investment funds and other financial institutions) hold about 30% of the share capital. 44% of the free float in the hands of institutional investors is held by US investors, 21% by British investors, 16% by Italian investors, 6% by French investors and 4% by German investors. Approximately 30% of the shares held by institutional investors are in funds that integrate ESG analyses into their investment processes.
There are approximately 75,000 retail investors (natural persons and legal entities in this category), holding 15% of the share capital. Almost all of the retail shareholding is resident in Italy, and in particular 58% in Lombardy. The investors residing in the provinces of Milan and Brescia hold 26% and 14%, respectively, of the total retail1 .
The data were prepared on the basis of the Shareholders' Register updated as of the dividend distribution date (May 25, 2022), communications received pursuant to Article 120 of the Consolidated Finance Act and other available information.
For further information about the shareholders that hold, directly or indirectly, a significant stake in the company (i.e., more than 3% of the share capital), please visit the Consob website
With reference to year 2022, the Board of Directors proposed that Shareholders' Meeting approves the distribution of a dividend equal to 0.0904 euro per share (corresponding to approximately € 283 million of total dividends).
Entirely taken from 2022 A2A S.p.A. net income.
The Strategic Plan 2021-2030 Update confirms the targets of dividend distribution to shareholders:
Dividends no longer attract any tax credit and, depending on who the recipient is, they may be subject to withholding tax at source or, in part, contribute towards taxable income.
|Year||No. of shares
(milion of euros)
|Ex date||Payment date||Dividend
|2022***||3,132.9||0.084||266||22 May 2023||24 May 2023||6.6||74.5|
|2021||3,132.9||0.0824||258||23 May 2022||25 May 2022||5.4||70.8|
|2020||3,109.2||0.080||249||24 May 2021||26 May 2021||6.0||74.3|
|2019||3,109.2||0.0775||241||18 May 2020||20 May 2020||4.8||63.8|
|2018||3,109.2||0.070||218||20 May 2019||22 May 2019||4.6||49.8|
|2017||3,109.2||0.0578||180||21 May 2018||23 May 2018||4.1||43.5|
|2016||3,109.2||0.049||153||22 May 2017||24 May 2017||4.2||40.6|
|2015||3,106.0||0.041||126||20 June 2016||22 June 2016||3.8||45.3|
|2014||3,106,0||0.0363||113||22 June 2015||24 June 2015||4.3||64.4|
|2013||3,106,0||0.033||102||23 June 2014||26 June 2014||5.2||65.7|
|2012||3,106,0||0.026||81||24 June 2013||27 June 2013||5.2||69.6|
|2011||3,106,0||0.013||40||18 June 2012||21 June 2012||1.3||24.5|
|2010||3,106,0||0.060||298||20 June 2011||23 June 2011||8.0||122.7|
|0.036||21 November 2011||24 November 2011|
|2009||3,106,0||0.070||217||21 June 2010||24 June 2010||5.4||67.1|
|2008||3,106,0||0.097||301||22 June 2009||25 June 2009||4.5||95.3|
|2007||3,085,5||0.097||299||23 June 2008||26 June 2008||3.6||57.4|
* Dividend Yield calculated on annual average share price
** Pay-out calculated on ordinary income (net of non-recurrent items)
*** Dividend Proposal
On 4 January 2008 an extraordinary dividend ,merger-related and equal to 0.11 euro per ASM share, was paid to ASM shareholders (ex-dividend date on 28 December 2007).
The publication of analyst target prices and recommendations as well as of consensus estimates on A2A Group is for informative purposes only and does not represent a solicitation to purchase, hold or sell A2A shares.
This information is expressed by analysts autonomously and does not represent forecasts or anticipations by A2A.
The company commits to a periodic updating of this information and does not accept any responsibility concerning potential inaccuracy in the published data
|Company||Financial Analyst||Target Price (€)||Recommendation||Date|
|Banca Akros||F. Sala||1.85||ACCUMULATE||05/12/2023|
|Intesa Sanpaolo||D. Candela||1.87||HOLD||05/18/2023|
|Citigroup||coverage in transition|
|Kepler Cheuvreux||E. Oggioni||2.00||BUY||05/19/2023|
|Morgan Stanley||S. Lester||1.85||EQUAL WEIGHT||05/22/2023|
|Financial KPIs||2023E (€M)||2024E (€M)|
|Adjusted Net Income||405||432|
|Capex (including M&A)||1,338||1,350|
The table is based on the arithmetic average of the updated estimates by the financial companies currently covering the stock.
Data updated at 05/23/2023
Source: Bloomberg and Company information
|CDP Climate Change||A-|
|FTSE ESG Rating||3.7/5|
|S & P CSA||77/100|
Moreover, A2A has been included in the Ethibel Excellence Investment Register, in the Ethibel Pioneer Investment Register.
(update at 31 December 2022)
A2A S.p.A. - P.I. 11957540153