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Press release

Milan, 1 December 2021 – With reference to the partnership project envisaged in the nonbinding term sheet signed between A2A and Ardian on 8 June 2021, announced by means of the press release of the same date, it is communicated that A2A and Ardian today extended the exclusivity period from 31 December 2021 to 31 March 2022.

 

Contact information

A2A – Media Relations
Giuseppe Mariano
Tel. +39-02 7720.4583
ufficiostampa@a2a.eu

Investor Relations
Tel. +39-02 7720.3974
ir@a2a.eu

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2022 Financial Calendar of A2A S.p.A.

Milan, 16 November 2021 – The 2022 Financial Calendar of A2A S.p.A. is detailed below:

  • 23 February 2022: Board of Directors meeting on the preliminary consolidated results for 2021;
  • 17 March 2022: Board of Directors meeting to approve the 2021 draft annual and consolidated financial statements;
  • 28 April 2022 (possible second convening on 29 April 2022): Ordinary Shareholders' Meeting to approve the 2021 financial statements;
  • 12 May 2022: Board of Directors meeting to approve the financial reporting at 31 March 2022;
  • 29 July 2022: Board of Directors meeting to approve the half year financial report at 30 June 2022;
  • 10 November 2022: Board of Directors meeting to approve the financial reporting at 30 September 2022.

 

A dividend relating to the financial year 2021 may be payable from 25 May 2022, with exdividend date 23 May 2022 (record date 24 May 2022).

 

Contacts
A2A - Media Relations
Giuseppe Mariano
Tel. +39-02 7720.4583
ufficiostampa@a2a.eu

Investor Relations
Tel. +39-02 7720.3974
ir@a2a.eu
 

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A2A, results at september 30, 2021

Confirmed strong growth in margins and investments

Important awards for sustainability actions, A2A commitment to green finance continues

Financial results

  • Revenues at 6,456 million euro: +34% on the first nine months of 2020.
  • EBITDA as at 959 million euro, up by 137 million euro (+17%) on the first nine months of 2020 (822 million euro) thanks to significant organic growth and M&A transactions
  • Net profit at 394 million euro, +81% compared to last year (218 million euro in the first nine months of 2020).
  • Capex amounted to 640 million euro, +55% compared to the same period of the previous year.
  • Net Financial Position of 3,782 million euro, up 310 million euro compared to December 31, 2020 Net of changes in the scope of consolidation and the impact of the new ESMA guidelines (totalling 441 million euro), the NFP improved by 131 million euro to 3,341 million euro.

Ecological transition

  • +14% the installed capacity from renewable sources (hydroelectric, photovoltaic and wind), equal to 2,235 MW, compared to the corresponding period of 2020.
  • A 26% decrease in the Group Emission Factor to 316g CO2/kWh compared to 2017, the Science Based Targets Initiative baseline year.

Sustainability

  • Significant achievements for the sustainability strategy:
    • A2A was recognised as the company with the best sustainability report in the "Energy&Utilities" category, in first place in the "ESG Reporting Awards 2021" ranking by ESG Investing Global Markets Media Ltd (a UK-based financial media company) and came in second place in the "Best Climate -Related Reporting" category for reporting on climate change.
    • A2A has entered in the new MIB ESG index of Borsa Italiana, dedicated to listed blue-chips with the best practices at ESG level, in line with the principles of the UN Global Compact.
  • The Group's commitment to green finance continues: following the issue of the Sustainability-Linked Bond for 500 million euro, on October 25, A2A successfully placed a Green Bond for 500 million euro with a duration of 12 years, which will finance Green Projects aligned to the EU Taxonomy, in particular with reference to the “climate change mitigation” objective.

 

A2A S.p.A. Board of Directors has examined and approved the quarterly Financial Information as at 30 September 2021

***


Milan, 11 November 2021 – At today’s meeting of the Board of Directors of A2A S.p.A., chaired by Marco Patuano, the Board examined and approved the quarterly financial information as at 31 September 2021.

In the first 9 months of 2021, we continued with our significant industrial and economic growth driven by sustainability and green transition. We have recorded an increase in all our financial indicators and a record level of investments for the period; we have further speeded up on our installed capacity from renewable sources and reduced the Group's emission factor" - commented Renato Mazzoncini, Chief Executive Officer of A2A - "Our commitment remains focused on the energy transition and the circular economy in order to guarantee an important contribution to the achievement of the decarbonisation objectives and to build the infrastructures necessary to bridge the gap between the plants in certain areas. Strategic assets that will allow our country to remain protected from market turbulence and the consequent increase in the cost of energy, to the benefit of citizens".

In the period under review A2A recorded excellent results, with economic and financial indicators showing significant growth, thanks to the contribution of all the Group's Business Units and to the M&A transactions completed in the previous and current year.

The period results should be viewed against the backdrop of a complex scenario that included a recovery in demand for goods and services, particularly energy consumption, caused by the easing of the measures implemented to contain the pandemic, and strong pressure on the energy market due to a combination of factors: climatic factors, low levels of domestic energy supply, volumes of renewable energy production at their lowest levels since the beginning of the year - particularly in the hydroelectric area - which fuelled an upward pressure on energy prices, which then strengthened steadily during the reporting period.

In the first nine months of 2021, in fact, the PUN (Single National Price) increased by +141.8% compared with the same period in 2020, reaching an all-time high of 158.6 €/MWh in September. The increase in the PUN reflects a similar escalation in the prices of natural gas at the PSV (virtual exchange point) and of CO2. The average cost of gas at the PSV, in fact, was 30.1 € /MWh, up 234.5% on the same period of last year. CO2 quotations stood at an average price of 48.3 €/tonne in the first nine months of 2021 (23.8€/tonne in the same period of the previous year, +102%).

A2A has continued to pursue a prudent commodity price hedging policy, aimed at containing risk and volatility over the medium-term. The high level of hedging (more than 70% of expected production in 2021), which began as early as 2020, therefore limited the benefit potentially obtainable from the significant - and unexpected - increase in energy prices.

The extraordinary price dynamics combined with the growth in demand, the excellent performance of all Business Units and the contribution of the newly acquired companies, ensured good results for the first nine months of 2021:

  • strong increase in turnover (+34%);
  • growth in operating margins (+137 million euro, or +17%), in line with the results achieved in the first half of the year.

Capex amounted to 640 million euro, a 55% increase on the same period of the previous year.

In particular, a strong boost was given to development investments aimed at recovering energy and materials, upgrading distribution networks, water and sewage networks, purification plants, photovoltaic plants and digitalisation of the Group (approximately 390 million euro, +73% compared to the first nine months of 2020).

M&A transactions, fully in line with the 2021-2030 Business Plan based on energy transition and circular economy, mainly concerned the field of bioenergy (acquisition of Agripower, a company managing and developing biogas power generation plants) and the increase of installed power from renewable sources (acquisition of 17 photovoltaic plants from Octopus for a total installed capacity of 173MW). At September 30, total installed capacity from renewable sources (hydroelectric, photovoltaic and wind) was 2,235 MW, an increase of 14% compared to the corresponding period in 2020.

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A2A issues its first green bond with uop aligned to EU taxonomy

Strong response with orders from investors in the region of €1.6bn, which implies an oversubscription ratio greater than 3x

Milan, 25 th October 2021 - A2A (Moody’s Baa2/stable - Standard & Poors BBB/stable) successfully launched a new Green Bond with a size of €500mln and maturity 12 years.

The new transaction received a strong investor response: indeed, the total order book was in the region of € 1.6bn, implying an oversubscription ratio greater than 3x. The new Green Bond, which is addressed to institutional investors only and has been issued under the Euro Medium Term Notes Programme, is based on A2A’s Sustainable Finance Framework.

Notes have an issue price of 99.204% and a reoffer yield equal to 1.071%. Coupon has been set at 1.000% whilst the final spread over the reference mid swap rate is equal to 70bps.

The net proceeds from the issuance will be used to finance and/or refinance strategic projects in the fields of circular economy and energy transition: the so-called Eligible Green Projects mainly related to renewable energy and networks, as defined in A2A’s Sustainable Finance Framework. A2A pre-emptively  assessed the  alignment  of those  green  projects to  the  EU Taxonomy (with  particular reference  to  the  substantial  contribution  to  the environmental  objective  of  'Climate  Change Mitigation').

In addition, A2A commits to disclose, as part of its allocation report, the actual amount of investments aligned to the EU Taxonomy that have been financed through the Green Bond.

This  new  Green  Bond,  which  follows  the Sustainability-Linked  Bond  of  July,  reinforces the  link between the Group's financial and sustainable strategy” - Andrea Crenna, CFO of A2A, said - With this Green Bond we are committed to financing green projects aligned to the EU Taxonomy ensuring full transparency in the allocation reports”.

The notes are subject to the English Law and will be listed on the Luxembourg Stock Exchange from the 2 nd of November 2021 once all the relevant documentation will be signed. BNP Paribas and Goldman Sachs International acted as Global Coordinators whilst BNP Paribas, Citi, Goldman Sachs International, IMI-Intesa Sanpaolo, JP Morgan, Mediobanca, Santander, Société Générale and Unicredit acted as Joint Bookrunners.

A2A was supported by the legal counsel Orrick whilst the Joint Bookrunners were assisted by Allen & Overy.


Contacts:

Giuseppe Mariano
Media Relations, Social Networking and Web Responsabile

Silvia Merlo – Silvia Onni
Ufficio stampa
ufficiostampa@a2a.eu
Tel. [+39] 02 7720.4583

A2A – Investor Relations
ir@a2a.eu
Tel. [+39] 02 7720.3974

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Lead Independent Director

Brescia, 21 October 2021 – Today, the Board of Directors appointed, until approval of the financial statements as at 31 December 2022, as Lead Independent Director Secondina Giulia Ravera (Independent Director taken from the minority list), who will be paid the annual gross remuneration already approved for this office of €10,000.00 pro rata temporis.

 

Contact information

A2A – Media Relations
Giuseppe Mariano
Tel. +39-02 7720.4583
ufficiostampa@a2a.eu

Investor Relations
Tel. +39-02 7720.3974
ir@a2a.eu

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A2A grows in the circular economy partnership with F.lli Omini SPA for the decommissioning of industrial plants

Milan – 21 October 2021 – A2A – through its subsidiary A2A Ambiente - has signed an agreement for the acquisition of a 30% stake in F.lli Omini SpA, a company specialised in demolition, aimed at creating a collaboration for the decommissioning of industrial plants. 

In line with A2A's strategic plan, the management of the final stage of the life cycle of industrial assets is an activity inspired by the principles of circular economy, recovery of materials and enhancement of resources. The partnership will allow for the effective decommissioning of industrial plants to the benefit of the territories, and will contribute to eliminate negative impacts on the environment. 

F.lli Omini is a leading company in the demolition of civil and industrial sites (in the chemical, petrochemical, energy and nuclear fields). With a turnover of about 20 million euros per year, and equipped with a wide range of certifications, the company is qualified to participate in major tenders in high-tech sectors.  Of particular importance are two projects carried out in recent years by F.lli Omini: the demolition of the Concordia wreck and, as leader of a pool of highly specialised companies, the design and demolition of the Morandi Bridge - an activity that, in terms of timing and execution, will remain an international reference point for the entire sector.

"With this operation A2A further expands the scope of activities related to the circular economy. Entering this new sector allows us to add a fundamental step to our consolidated businesses: the optimal management of the end of life of plants. An important area which requires adequate skills and advanced technologies to guarantee safe, efficient and sustainability-oriented processes" - commented Renato Mazzoncini, Chief Executive Officer of A2A - "This partnership represents further confirmation of the Group's attention to territories and its commitment to contribute to the country's ecological transition". 

 "The arrival of A2A in 30% of our share capital and the commercial partnership aimed at the activity of decommissioning of industrial plants” - said Emilio Omini, CEO and founder of F.lli Omini S.p.A. “ - representing a further tangible appreciation by the market of our company, which in the last 10 years has demonstrated great capacity for technical and managerial reliability. I am certain that this will be a crucial starting point for the development of important synergies that will allow a further improvement of our positioning in a market in great evolution, such as that of demolition".

The transaction is expected to be completed by the end of 2021. The agreement provides for a call option in favour of A2A on the entire share capital of F.lli Omini.


Contacts:
Giuseppe Mariano

Media Relations, Social Networking and Web Responsabile
Silvia Merlo – Silvia Onni
Ufficio stampa
ufficiostampa@a2a.eu 
Tel. [+39] 02 7720.4583
 

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