A2A Group Website


Brescia Milan Bergamo
Via Lamarmora 230 -25124 BRESCIA
Phone +39  030 35531 - Fax +39  030 3553204

How to reach it

Corso di Porta Vittoria, 4 - 20122 MILAN
Phone +39 02 77201 - Fax +39 02 77203920

How to reach it

Via Suardi 26 - 24124 BERGAMO
Phone +39 035.351.111 - Fax +39 035.246645

How to reach it


Toll free number

800 011 639
(from Monday to Friday from 8.30 to 17.00)

Customer centre
Via Lamarmora, 230
(Monday, Tuesday, Thursday 8.15 - 13.00,  14.00 - 15.30
Wednesday 8,15 - 15,30
Friday 8.15 - 13.00

Toll free number
800 199 955
(from Monday to Friday from 8.30 to 17.00)

For calls from mobile or from abroad 
02 36609191
(from Monday to Friday from 8.30 to 17.00)

DTS  (Telephone system for hearing-impaired people)
02 77203222
(from Monday to Friday from 8.30 to 17.00)

Customer centre
Via Francesco Sforza, 12
(from Monday to Friday  from 8.30 to 16.00)


Toll free number
800 012 012
(from Monday to Friday from 8.30 to 17.00)

Customer centre
Via Suardi, 26 - Bergamo
(from Monday to Friday  from 8.00 to 12.30 and from 14.00 to 16)

Direction of Communication and External Relations Investors

Phone  +39 02 77204583
Fax +39 02 77203591

Press office:

Social Responsibility
Phone +39 02 77204175 
Fax +39 02 77203535

A2A Investor Relations Team

Qualifying statements concerning the December 2, 2012 Report (tv programme broadcasted on RAI3 channel

A2A and operations in Montenegro

Referring to the Rai 3 Report of 2.12.2012 and in particular to the service dedicated to the purchase of the electrical company EPCG by A2A, we consider it necessary to make certain observations:

Result of A2A for the year 2011

In this Report it was stated that in 2011 A2A recorded a balance sheet loss amounting to €916 million and that such result derived from the losses of EPCG in Montenegro. As stated in the 2011 Report and Accounts, the A2A business year closed with a net loss for the Group amounting to € 420 million, the figure of €916 million also includes losses attributable to third parties for € 496 million. The losses are mainly due to non-recurrent depreciation related to the loss of value of investments in Edison and Edipower, companies that have been affected by the sharp decline in demand for electricity and gas in Italy. The impact of EPCG on the A2A loss in 2011 amounted to €70 million (41 for depreciation and 29 loss for the business year). The ordinary running of A2A, when the extraordinary effects and afore-mentioned non-recurrent factors are removed, closed in 2011 with a profit of € 168 million, despite the strongly negative macroeconomic and sectorial context. We would also point out that in just the first nine months of 2012 the net profit of A2A amounted to € 169 million. All this information was provided to the Report journalist and was published in the A2A Balance Sheet.

Purchase of 43.7% of EPCG by A2A

The purchase of a 43.7% holding in EPCG by A2A came about through a competition in which, at the final phase, four international companies participated. A2A decided to participate on the basis of two fundamental business objectives: to acquire new capacity from renewable sources, including hydropower, and to safeguard a geographic area more and more integrated into the Italian and European system, due to the planned interconnection between Italy and Montenegro in a 1000 MW undersea cable. The advisor of the Government of Montenegro was Unicredit and A2A was assisted by Mediobanca. A2A bought approx. 15% of EPCG on the Montenegrin stock market during the first months of 2009. It subsequently won the competition and as required by the rules of the call, launched an acquisition offer (OPA) under the same conditions of the competition. The competition also provided for a capital increase, the share capital was and is available to EPCG for the management and investment to develop its activities. The capital increase amounted to €96.2 million and to date, after the investmentsmade in Montenegro, the current available cash of EPCG is about €60 million.

Results for the year 2011 of EPCG

The financial balance of EPCG of 2011 closed with a loss of € 66 million, a result which was mainly generated by low rainfall bringing about a low production of hydroelectric power, thus obliging EPCG to import. Other important factors were the reduction in regulated tariffs (approx.- 10%) and the criticality of the KAP energy consuming customer These factors were partially resolved during 2012: since the beginning of October, EPCG has had no contractual relationship with the company KAP and up to December 2012 it will supply to a trading company, wholly-owned by the State of Montenegro, only the half of the volume previously provided to KAP. In addition, as regards tariffs, a new method of pricing has come into effect. In 2012 the growth of regulated prices is equal to an average 11%. We would also draw attention to the fact that in 2010, the first full year of the presence of A2A among the shareholders of EPCG, despite the afore-mentioned criticality, EPCG had produced a gross operating profit (earnings before interest, taxes, depreciation and amortisation) of € 61 million and a profit of €16 million.