The A2A S.p.A. Board of Directors has approved the 2015 results

• The Operating Margin (EBITDA) was up by 2.3% to 1,048 million euros.
• Significant improvement of the Ordinary Net Profit, amounting to 278 million euros (+58.9%)
• Further substantial reduction of the Net Financial Position by 466 million euros, amounting to 2,897 million euros at the end of 2015 with investments and dividends up (PFN/EBITDA amounting to 2.76x)
• Return to Group Net Profit, 73 million euros – despite the write-down of assets belonging to the Group for over 200 million euros

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A dividend of 0.041 euros per share (corresponding to paid dividends of approximately 126 million euros), up by 13% compared to the previous year, was proposed to the Shareholders' Meeting

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Milan, 06 April 2016 – At yesterday’s meeting of the Board of Directors of A2A S.p.A., chaired by Mr. Giovanni Valotti, the Board approved the drafts of the Separate financial statements and of the Consolidated annual financial report at 31 December 2015.

These drafts will be subject to approval by the ordinary Shareholders' Meeting which will be held on 18 May, together with the proposal for the coverage of the loss of the year and the distribution of dividends.

The first year of the business plan concluded with all the performance, economic, financial and operating indicators in line with or better than expectations, confirming the validity of the strategic 2 approach outlined one year ago. 2015 also brought improved results compared to 2014, a year characterized by strong and unusual hydraulicity as well as by substantial positive non-recurring items.

These excellent results are even more satisfying in light of the substantial write-downs of assets sustained, overall worth 357 million euros (of which 214 million euros relate to A2A and 143 million euros to the Montenegrin shareholder) and resulting from both the continuing economic crisis in the Italian thermoelectric sector and the changed expectations, primarily regulatory, of Montenegro.

 

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