The Board of Directors of A2A S.p.A. has examined and approved the quarterly information at September 30, 2018
Group net income up significantly to €335 million (+48% compared to the same period of 20171)
Gross operating margin steady at €875 million.
Gross operating margin net of non-recurring items at €824 million (up 1% with respect to the same period of 20171)
Capex of €304 million, up 24% with respect to the same period of 2017
Net financial position down significantly to €2,877 million (€349 million lower than registered at December 31, 2017)
Milan, November 13, 2018 – The Board of Directors, met today under the chairmanship of Giovanni Valotti, examined and approved the quarterly information at September 30, 2018.
Higher gas and electricity prices marked the first nine months of 2018 and, particularly, the third quarter of the year: the average gas price on the Virtual Trading Point (VTP) was €23.6/MWh, up 25.6% compared to the same period of 2017; the PUN base load rose by 14.7% to €58.9/MWh. CO2 prices nearly tripled on 2017, bouncing from €5.3/ton to €14.4/ton.
A2A consolidates the accounts of ACSM-AGAM group on a line-by-line basis, starting from July 1, 2018. The ACSM-AGAM group is the multi-utility company of Northern Italy resulting from the combination of the Como, Monza, Lecco, Sondrio and Varese public utility companies, bringing forward the industrial and corporate partnership of public utilities in the Lombardy region.
1 The restated figures reflect the reclassification of the EPCG group’s results in accordance with IFRS 5.