Acea, profits on the rise: new plan in the autumn

Acea closes the first half of the year with clearly growing results and is working on a new industrial plan that aims to develop the three strong sectors in which it operates: water, electricity and the environment, also considering the need to remunerate its shareholders. From January to June, the multi-utility led by Fabrici Palermo made an adjusted net profit of 144 million, up 6% compared to the six months of 2022, and gross operating margin stood at 670 million, with growth of 3%. Investments, however, in the first six months of 2023 grew by 9%, up to 503 million, and the net financial debt was 4,700 million.

“In a difficult context, characterized by the increase in interest rates and the volatility of prices – explained Palerm – Acea has launched actions aimed at increasing operational efficiency and strengthening investments, guaranteeing the growth of economic results and a solid financial structure”. The future of the group will be outlined more precisely in the coming months, at the end of autumn, with the new industrial plan.

The aim is to continue supporting the growth of the country’s infrastructure. In the coming years, Acea intends to devote maximum attention to the objectives it has set, also in terms of investment, with the aim of supporting the growth of its three main businesses, but with a strong focus on maintaining adequate levels of capital remuneration and, at the same time, with a strong focus on cash management. Among the objectives set by the management is also the development of new renewable capacities to deal with the energy transition. “Our goal – said Palerm – is to maintain a significant return on investment for our shareholders. We will do this by focusing on maintaining a position in the three sectors in which we operate».

According to the CEO, one of the company’s future challenges is that of large plants, “such as the waste-to-energy plant that will be built in Rome and the one already present in San Vittore”. In fact, as Palermo himself recalled, Acea “is participating in the tender for the construction of the waste-to-energy plant in Rome and is working on the project of the fourth line of the San Vittore plant”. On March 1st, the expression of interest was presented for the new structure that will be built in the capital. The company’s goal is to “satisfy any new plant requirements in central Italy.” Again with reference to Rome, then, the group aims to strengthen and digitize the electricity network.

Source : IL Messaggero

Related Stories