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The Board of Directors has examined and approved the 2015-2019 Strategic Plan of the A2A Group

Important relaunch of investments 2.1 billion euros of investments in five years (+40% compared to the previous five-year period)

Rebalancing and innovation in the industrial portfolio strong developments planned for the environment, smart networks and new energy services

Significant growth of the EBITDA 1.35 billion euros of gross operating margin in 2019 (+32%)

Further reduction of the debt Net Financial Debt amounting to around 2.5 billion euros in 2019, reduced by over 800 million euros compared to 2014. Improvement of Net Financial Position/EBITDA ratio from 3.3x to 1.9x

Relaunch of the dividend policy the cash flow generation supports the increase of dividends, expected to double at the end of plan


Milan, 10 April 2015 – At yesterday’s meeting of the Board of Directors of A2A the Board examined and in the late evening approved the 2015-2019 Strategic Plan of the A2A Group. It is the first strategic plan prepared by the new governance of the company, led by the Chairman Giovanni Valotti and the CEO Luca Valerio Camerano, both appointed last June.

The main objective of the Plan is to relaunch and redesign A2A, initiating a path of strategic repositioning that will deliver, in 2020, a more modern multi-utility company and a leader in the environment, smart networks and new energy models, which is more balanced, profitable, and capable of seizing the opportunities that will open up in the Green Economy and Smart Cities.

The main development lines of the Plan can be attributed to three macro areas of intervention, characterized by three different missions:

  1. Restructuring and reduction of exposure in the thermoelectric sector;
  2. Relaunch of the investments in the key areas of the environment, networks and the free market of energy;
  3. Redesign of the mission of A2A to seize the opportunities of the future.



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