Margins and investments grow
Further boost to sustainable development thanks to renewables and circular economy
A2A S.p.A. Board of Directors has examined and approved the quarterly Financial Information as at March 31, 2021
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Milan, May 13, 2021 – At today’s meeting, chaired by Marco Patuano, the Board of Directors of A2A S.p.A. examined and approved the quarterly financial information as at March 31, 2021.
“We are very pleased with the results of this first quarter. Revenues, EBITDA and net income recorded double-digit growth, confirming the founding elements of the new ten-year Business Plan: an extremely positive European scenario in the circular economy and energy transition sectors, the value of our assets in the network, waste and energy sectors and, last but not least, the value of the A2A Group's important know-how and our human capital, which is interpreting the new Plan with skill and passion” commented Renato Mazzoncini, Chief Executive Officer of A2A. “We have also increased investments by 26%; a particularly significant increase coming from a record 2020 (+18% on 2019) and which allowed us to conclude strategic operations in line with the Plan announced in January.With the recent acquisition of a portfolio of 17 photovoltaic plants of 173 megawatts, we have consolidated our second position among operators in the renewable energy sector and are among the leaders in solar energy in Italy. With these foundations, we want to continue to provide our contribution to the creation of innovative infrastructures, strategic for the sustainable development of the Country”.
The results for the first quarter of the year were achieved through the contribution of all Group's Business Units.
In the reporting period, A2A operated against a backdrop of a recovery in consumption and an upward trend in energy prices, within a framework of gradually overcoming the related anomalies associated with the COVID emergency. Thanks to sustained organic growth and M&A transactions completed in the previous year, the results achieved far exceeded those of the first quarter of 2020, which was only partially affected by the highly negative impacts related to the energy scenario and the pandemic, both characterizing the rest of 2020.
As far as energy consumption is concerned, the net electricity demand in Italy in the first three months of 2021 was 78,634 GWh, up +2.2% compared to the first quarter of the previous year, however still down compared to the corresponding period of 2019 (-2.1%). In addition, natural gas consumption for the period totalled 25,245 Mcm, or 5.7% more than in the first quarter of 2020.
In relation to price dynamics of energy goods, in the first three months of 2021 the PUN (Single National Price) increased by 49.6% compared to the first quarter of 2020, reaching 59.2 €/MWh as a result of the rise in gas and CO2 costs. The average price of gas to the PSV in the period under review amounted to 18.7 €/MWh, up 65.3% compared to the same period of the previous year. CO2 quotations stood at an average price of 37.5 €/tonne in Q1 2021 (22.9 €/tonne in Q1 2020, +64%).
Growing price and quantity dynamics, the excellent performance of all the Group's Business Units, the contribution of the consolidation of AEB, the launch of the 2021 - 2030 Strategic Plan approved in January 2021, resulted in:
For further information:
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Giuseppe Mariano
tel. 02 7720.4583
ufficiostampa@a2a.eu
Investor Relations:
tel. 02 7720.3974
ir@a2a
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