FAQ

A2A in a few words

A2A is a multiutility born on 1st January 2008 from the merger of AEM/ASM/AMSA (technically, Aem incorporated Asm and Amsa). The new entity is the first player among Italian multiutilities with both a primary position in regulated and unregulated businesses and a promising potential for international expansion. The company operates in the following sectors: energy (electricity and gas), district heating and cogeneration, waste and distribution networks

Overview questions

The A2A Group operates in the following “Business Units”:

 

Generation and Trading
The activities of the Generation and Trading Business Unit are related to the management of the generation plant portfolio of the Group. The “Generation” sector has the specific goal of maximizing plant availability and efficiency, minimizing operating and maintenance (O&M) costs. Instead, the “Trading” sector has the task of maximizing the profit from the management of the energy portfolio through the purchase and sale of electricity, fuel (gaseous and non gaseous) and environmental certificates on domestic and foreign wholesale markets. This Business Unit also includes the activity of trading on domestic and foreign markets of all energy commodities (gas, electricity, environmental certificates).

 

Commercial
The activities of the Commercial Business Unit Sales are aimed at the retail sale of electricity and natural gas to customers in the free market and sale to customers served under protection scheme.

 

Environment
This Business Unit’s activity relates to the whole waste management cycle, which ranges from collection and street sweeping to the treatment, disposal and recovery of materials and energy. In particular, collection and street sweeping mainly refers to street cleaning and the collection of waste for transportation to its destination. Instead, waste treatment is an activity that is carried out in dedicated centers to convert waste in order to make it suitable for the recovery of materials. Lastly, disposal of urban and special waste in combustion plants or landfills ensures the possible recovery of energy through waste to energy or the use of biogas.

 

Heat and Services
This Business Unit’s activity is mainly the sale of heat and electricity produced by cogeneration plants (mostly owned by the Group). Cogenerated heat is sold through district heating networks. The Business Unit also ensures the operation and maintenance of cogeneration plants and district heating networks, as well as management services of heating plants owned by third parties (heat management services).

 

Networks
This Business Unit’s activity consists of the technical and operational management of networks for the distribution of electricity, the transport and distribution of natural gas and the management of the entire integrated water cycle (water captation, aqueduct management, water distribution, sewerage network management, purification). Also included are activities relating to public lighting, traffic regulation systems, the management of votive lights and systems design services.

 

EPCG
The Business Unit includes the activities carried out by the investee company Elektroprivreda Crne Gore AD Nikšic ' (EPCG) in relation to the production and sale of electricity in Montenegro and the operational technical management of the related electricity distribution networks.

 

Other Services and Corporate
Corporate services consist of the guidance, strategic direction, coordination and control of industrial operations, as well as business and operating activity support services (e.g. administrative and accounting services, legal services, procurement services, personnel management services, information technology services, telecommunications services, etc.). Other services include video-surveillance, data transmission, telephony and internet access services.

The name "A2A" is a symbolic synthesis of the name Adda, the river from which derives the industrial wealth of AEM Milano and ASM Brescia. "A" is also the first letter of the name of the two companies.

 

Financial markets

A2A is listed on the Italian Stock Exchange (Borsa Italiana) and is a member of the FTSE Mib (Blue Chips) and in the FTSE Italia All-Share Utilities super-sector index.

The code is an ISIN (International Securities Identification Number).

 

For A2A shares the ISIN code is IT0001233417.

The updated price of A2A stocks on the financial market is available on the homepage of our website and (with further details) at the page QUOTATION

The two main shareholders are the Municipality of Milan and the Municipality of Brescia. For further details about other relevant shareholders, go to Sub Home INVESTORS

For details about A2A bonds please go to the DEBT-BONDS

A2A peers are the main listed utilities that operate in the energy sector on a national or on a local basis: Enel, Acea, Hera, Iren, Ascopiave and Acsm-Agam.

Results and business plan

The release date of results (quarterly and annual) is shown in the FINANCIAL CALENDAR

The financial and industrial objectives are publicly disclosed when the BUSINESS PLAN is approved.

The main information about the debt breakdown and maturity can be found on our website at the following page: DEBT

The rating of A2A is available at the following page: DEBT - RATING

A2A external auditors are::

  • PricewaterhouseCoopers S.p.A for the years 2007-2015
  • Reconta Ernst & Young S.p.A.. for the years 2016-2024, mandate conferred by A2A Shareholders’ Meeting on June 2015.

 

A2A quarterly and annual reports are compliant with the IAS/IFRS reporting rules. The "International Financial Reporting Standards" (IFRS) are a set of international reporting rules, ratified by the European Commission, that Companies with securities listed on regulated markets of Member States of the European Union are required to adopt for their consolidated financial statements starting in 2005.

Dividends

For detailed information about the dividend per share amount, distribution and taxation as well as A2A dividend policy, please visit the SHARES - DIVIDENDS

Corporate social responsibility

The main instruments of Sustainability adopted by A2A are: the Chart of Values, the Code of Ethics, the Quality, Safety and Environment Policy and the Sustainability Report.

For further information please go to the section: Sustainability

Governance

A2A adopts the traditional corporate governance model.  The roles of the main bodies are the following:

Shareholders’ Meeting

  • appoints and revokes the Board of Directors members
  • approves the remuneration of the Board and deliberates on its responsibilities
  • approves the Annual Financial Statements
  • deliberates on the earnings distribution
  • appoints the Board of Statutory Auditors
  • appoints the External Auditors

Board of Directors

  • may appoint an Executive Committee
  • appoints other Commitees
  • appoints and revokes the Manager in charge of drafting the company accounting documents.

For further details go to GOVERNANCE

The Board of Directors will remain in charge for three years until 2017 Shareholders’ Meeting

The Board of Directors has set up four Committees.

As laid down in A2A By-Laws, the company holds one compulsory Shareholders’ General Meeting per year. The Annual General Meeting is called by the Board of Directors, within 120 days (or 180 days under certain circumstances) after the end of the fiscal year.

You can find information on when the Shareholders’ Meeting is held in the Financial Calendar

The notice of call shall be published on the Company’s website and, as excerpt, in the daily newspaper “Il Sole 24 Ore” within 30 days before the first call of Shareholders’ Meeting (unless there are further items in the agenda of the Shareholders’ meeting besides the approval of the Annual Financial Statements which require different time limits for the call). The notice of call is also sent to Consob (market regulator) and Borsa Italiana

Are legitimate to participate the shareholders:

  • who hold voting right at the end of the seventh trading day prior to the date of the Shareholders' Meeting (record date)
  • whose entitlement of the relative right is certified by a statement issued by an authorized intermediary and sent to the Company by the end of the third trading day prior to the date of the Shareholders' Meeting.

However, it's possible to attend and vote if the statement is received by the Company before the opening of the Shareholders' Meeting on first call.

Each shareholder entitled to participate may confer a proxy to a single representative in writing in the manner set forth by current laws.

Morever, experts, financial analysts, members of the economic-financial community, entitled journalists (from daily and periodic newspapers, Italian or foreign or radio/TV channels, Italian or foreign) can participate in the Shareholders’ Meeting, under authorization by the Company, as listeners only with no voting rights.

Key strenghts

Generation and Trading

  • Diversified and balanced generation mix
  • More than 50% domestic renewable production in 2014
  • Almost 90% of hydro flexible reservoir/basin
  • High energy management skills
  • Relevant market share in the Northern Zone

Commercial

  • Strong and balanced customer base ~ 2 m contracts
  • Low and stable churn rate in each segment
  • 65% dual fuel customers
  • Efficient customer care

Heat and Services

  • Strong presence in Lombardy’s main cities
  • Long-term concessions
  • Churn rate structurally close to zero
  • Efficient cross-industry business mix
  • Strong environmental benefits at local level
  • District cooling option

Environment

  • Full integration along the value chain
  • Strong ties with district heating
  • Proven experience in development and management of treatment plants with material and energy recovery
  • Proven track record in tenders
  • Proven abilities to develop activities outside local footprint: successful management of Acerra plant

Networks

  • Cross sector presence: electricity, gas, water and public lighting
  • Opportunity of consolidation in Lombardy and in the northern part of Italy (gas distribution)
  • High service quality
  • Good continuity of electricity and gas distribution services
  • Focus on new technologies (e.g., LED, smart grids)

How to contact us

A2A IR team has created a mailbox for the contacts with investors ir@a2a.eu.

In order to receive the price sensitive press releases of A2A, a press alert system has been set up. To subscribe, please go to the page: Home INVESTORS o nella pagina Press Releases.

In order to receive the price sensitive press releases of A2A, a press alert system has been set up. To subscribe Send an email to ir@a2a.eu

Useful links

  • Autorità Garante della Concorrenza e del Mercato (Antitrust) www.agcm.it
  • The Italian Regulatory Authority for Energy, Networks and Environment www.arera.it
  • Autorità per le Garanzie nelle Comunicazioni (Telecom Authority) www.agcom.it
  • Borsa Italiana (Italian Stock Exchange) www.borsaitaliana.it
  • Consob (Financial Market Authority) www.consob.it