2030 objectives
We confirm the objectives of the first ten-year Plan
The update of the 2021-2030 Strategic Plan foresees an EBITDA rising from 1.4 billion euros in 2021 to 1.45-1.50 billion euros in 2022, to 2.1 billion euros in 2026 and to 2.6 billion euros in 2030, in line with the first strategic plan announced to markets in January 2021. Over 40% of 2030 EBITDA is regulated and contractualised, thus characterized by low volatility.
The update of the Business Plan, characterised by flexibility, by caution and the management of risk, as well as by an optimisation of financial resources, sees us focusing on the core businesses of the domestic market by means of organic growth.
Cumulative CAPEX | €B
16€B
@2030
EBITDA | B€
The bar chart shows the estimate for EBITDA for 2026 in the region of €2.1bn and divided into merchant <60% and low volatility >40%. EBITDA is expected to stand at around €2.6bn in 2030, divided between merchant <60% and low volatility >40%.
The bar chart shows the estimate for EBITDA for 2026 in the region of €2.1bn and divided into merchant <60% and low volatility >40%. EBITDA is expected to stand at around €2.6bn in 2030, divided between merchant <60% and low volatility >40%.
65%
CAPEX UE taxonomy aligned
cumulative 2021-2030
85%
CAPEX UN SDGs aligned
cumulative 2021-2030
EBITDA and investments
In line with the first ten-year plan
Cumulative CAPEX 2021-30 | €B
16 €B CAPEX 2021-30
~85% aligned to UN SDGs
~65% aligned to EU Taxonomy
The graph shows a cumulative increase in investment (CAPEX) to 2030 amounting to €16bn updated in November 2022, compared to the January 2022 figure of €18bn.
The graph shows a cumulative increase in investment (CAPEX) to 2030 amounting to €16bn updated in November 2022, compared to the January 2022 figure of €18bn.
EBITDA @2030 | B€
~2,6 B€ EBITDA
@2030
Main economic-financial objectives
The development of marginality is well balanced in terms of timescales. The EBITDA development target foresees reaching 2.1 billion euros in 2026 with further growth of about 0.4 billion euros in the final years of the plan, arriving at 2030 EBITDA of 2.6 billion euros, in line with the first ten-year plan presented.
The ordinary net earnings growth trend is coherent with that of operational marginality, moving from 0.4 billion euros in 2021 to 0.34-0.38 billion euros in 2022, to 0.6 billion euros in 2026 and to 0.7 billion euros in 2030 (2021-2030 CAGR at 6%), corresponding to a 2030 EPS of 22 euro cents (13 euro cents per share in 2021).
EBITDA | €B
The bar chart shows EBITDA from 2021 to 2030: €1.4bn in 2021, €1.45-1.50bn in 2022F, €2.1bn in 2026, €2.6bn in 2030, with +7% growth compared to 2021 and +8% growth between 2021 and 2026.
The bar chart shows EBITDA from 2021 to 2030: €1.4bn in 2021, €1.45-1.50bn in 2022F, €2.1bn in 2026, €2.6bn in 2030, with +7% growth compared to 2021 and +8% growth between 2021 and 2026.
CAPEX | €B
2021-2022F: 1.7 | 2023-2026: ~1.4 | 2027-2030: ~1.6
The bar chart shows investment growth to 2030: €3.5bn in 2021-2022F, ~€6bn in 2023-2026, ~€6.5bn in 2027-2030.
The bar chart shows investment growth to 2030: €3.5bn in 2021-2022F, ~€6bn in 2023-2026, ~€6.5bn in 2027-2030.
Net income | €B
Il grafico a istogrammi rappresenta il valore dell’Utile dal 2021 al 2030: 0,4B € nel 2021, 0,34-0,38B € nel 2022F, 0,6B € nel 2026, 0,7B € nel 2030 per una crescita +6% rispetto al 2021 e +8% tra 2021 e 2026.
Il grafico a istogrammi rappresenta il valore dell’Utile dal 2021 al 2030: 0,4B € nel 2021, 0,34-0,38B € nel 2022F, 0,6B € nel 2026, 0,7B € nel 2030 per una crescita +6% rispetto al 2021 e +8% tra 2021 e 2026.
EPS | €c
The bar graph shows earnings per share from 2021 to 2030: €0.13 in 2021, €0.11-0.12 in 2022F, €0.19 in 2026, €0.22 in 2030, with +6% growth compared to 2021 and +8% growth between 2021 and 2026.
The bar graph shows earnings per share from 2021 to 2030: €0.13 in 2021, €0.11-0.12 in 2022F, €0.19 in 2026, €0.22 in 2030, with +6% growth compared to 2021 and +8% growth between 2021 and 2026.
Notes:
The percentage shown in the arrows represent the CAGR(compound annual growth rate)
(1) Net ordinary income net of special items
Dividend per share1 | €c
| 2020 | 2021 | |
|---|---|---|
| Dividend per share (€c) | 8.00 | 8.242 |
Dividend growth of 3% YoY
Notes: A2A outlook forecast an inflation rate of 2.7% in 2023, 1.7% in 2024, 1.4% from 2025
(1) Dividend per share
(2) dps excluding the non-recurring component of 0,8 €c per share
Our Business Units
- 6.3 billion euros of investments for the Energy Business Unit between 2021 and 2030, including 2 billion expected in the period 2023-2026 and 3.1 billion in the period 2027-2030
- Waste Business Unit reports 3.6 billion euros investments in the ten-year period, of which 1.5 billion euros between 2023-2026 and 1.2 billion euros in 2027-2030
- The Smart Infrastructures Business Unit accounts for 4.8 billion euros between 2021 and 2030, 1.9 billion euros in the period 2023-2026 and 1.8 billion euros between 2027 and 2030
The EBITDA of the Energy Business Unit is expected to grow from 0.6 billion euros in 2021 and in 2022F to 1.1 billion euros in 2026 and finally to about 1.2 billion euros in 2030 mainly following the strong contribution of the new renewable capacity (+2.5GW vs 2022 due to organic growth), developments in plants aimed at increasing the flexibility of the electricity system and of the customer base (5 million gas and power customers to 2030) also following the end of the protected market.
Cumulative CAPEX 2021-2030 | €B
EBITDA | B€
The bar chart shows EBITDA of the Energy Business Unit from 2022F to 2030: €0.6bn in 2022F, €1.1bn in 2026, €1.2bn in 2030.
The bar chart shows EBITDA of the Energy Business Unit from 2022F to 2030: €0.6bn in 2022F, €1.1bn in 2026, €1.2bn in 2030.
The growth in the Waste Business Unit is attributable to the acquisition of treatment plants for the closure of the waste cycle as well as the strengthening of material and energy recovery. EBITDA is expected to increase from 0.3 billion euros in 2021, to 0.4 billion euros in 2022, to 0.5 billion euros in 2026 and to 0.7 billion euros in 2030.
Cumulative CAPEX 2021-2030 | €B
EBITDA | B€
The bar chart shows EBITDA of the Waste Business Unit from 2022F to 2030: €0.4bn in 2022F, €0.5bn in 2026, €0.7bn in 2030.
The bar chart shows EBITDA of the Waste Business Unit from 2022F to 2030: €0.4bn in 2022F, €0.5bn in 2026, €0.7bn in 2030.
Nella Business Unit Smart Infrastructures, l’Ebitda è in crescita da 0, 5 miliardi di euro del 2021 a 0,7 miliardi di euro del 2030. Gli importanti investimenti previsti saranno indirizzati soprattutto allo sviluppo delle Rete elettrica.
Cumulative CAPEX 2021-2030 | €B
EBITDA | B€
The bar chart shows EBITDA of the Smart Infrastructures Business Unit from 2022F to 2030: €0.5bn in 2022F, €0.5bn in 2026, €0.7bn in 2030.
The bar chart shows EBITDA of the Smart Infrastructures Business Unit from 2022F to 2030: €0.5bn in 2022F, €0.5bn in 2026, €0.7bn in 2030.
Note:
(1) includes electricity networks, gas networks and water cycle
Useful resources
Services
A2A S.p.A. - P.I. 11957540153