A2A overview
A2A was born on 1st January 2008 from the merger of AEM/ASM/AMSA (technically, AEM incorporated ASM and AMSA).
A2A comes as a result of developments in the Italian local utilities sectors, which are being gradually opened to competition. As a consequence, a consolidation process is under way that is resulting in a smaller number of larger entities.
The combined entity has a size comparable to major European players, as the figures for 2010 show:
- Revenues: EUR 6.0 billion;
- EBITDA: EUR 1.0 billion;
- Stock market capitalisation is approximately EUR 3.8 billion.
The operating figures put A2A in pole position in Italy in the local utilities sector (2010 figures):
- in power generation, with own or directly managed installed power totalling around 6.5 GW;
- in electricity and gas sales, with 34.0 billion KWh of electricity sold and 5.7 billion cubic metres of gas sold;
- in cogeneration and district heating, A2A sold 3.0 TWht of heat;
- in environmental services, A2A is national leader, with 2.8 million tonnes of waste treated and disposed of, and significant assets;
- in electricity, gas and water distribution, with 11.4 billion KWh of electricity, 2.3 billion cubic metres of gas and 69 million cubic metres distributed;
A2A has a number of targets:
- to reach a critical mass and be able to compete with the other domestic and foreign operators,
- to strengthen integration both at the top and bottom of the value chain of core activities,
- to boost contractual power on the free market,
- to exploit economies of scale and cost and investment synergies, with a view to improving service quality,
- to strengthen the local presence, operating in Milan, Brescia and Bergamo, as well as numerous towns in Lombardy and Emilia Romagna,
- to promote energy-saving initiatives and sustainable development using innovative technologies.
Finally, the investments currently under way, and the commercial initiatives launched abroad also through the shareholdings in Edison, will act as a launchpad for A2A's expansion abroad.
The 2010 -2014 Business Plan was approved last February.
| Key figures | Value (€ mln) | |
| 2010 | 2009 | |
| Revenues | 6,041 | 5,401 |
| Ebitda | 1,040 | 1,023 |
| Ebit | 498 | 609 |
| Net Income | 308 | 80 |
| Net Income adjusted* | 308 | 324 |
| Capital Employed | 8,738 | 9,239 |
| Net Financial Position | (3,893) | (4,644) |
| Group Net Equity | 4,845 | 4,595 |
| Download Excel spreadsheet |  |
* Net Income 2009 adjusted for the "Fiscal Moratorium"
| Key figures | Value | |
| 2010 | 2009 | |
| Ebitda margin | 17.2% | 18.9% |
| Ebit/CIN | 6.6% | 5.7% |
| Net Debt/Equity | 0.80x | 1.01x |
| Net Debt/EBITDA | 3.7x | 4.5x |
| Download Excel spreadsheet | |
