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Highlights of 2020 Consolidated Financial Statements

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Highlights of 2020 Consolidated Financial Statements 2020 FINANCIAL STATEMENTS OF ACEA SPA ACEA GROUP CONSOLIDATED FINANCIAL STATEMENTS SUMMARY FIGURES WHO WE ARE A LEADING INTEGRATED MULTIUTILITY IN THE ITALIAN MARKET THAT INVESTS IN SUSTAINABILITY, A PRIMARY FACTOR GUIDING THE GROUP'S BUSINESS STRATEGIES, COMBINING ECONOMIC GROWTH AND VALUE CREATION. WE INVEST IN INNOVATION, DIGITISATION AND STRENGTHEN OUR COMMITMENT TO THE ENERGY TRANSITION PROCESS. 2 ACEA GROUP / 2020 CONSOLIDATED FINANCIAL STATEMENTS Leader in the integrated water sector and one of the leading operators in the electricity distribution, energy and environment sectors, it is a company that puts its business and expertise at the service of the territory and its citizens. The Group's industrial vocation also passes through the strategy of sustainable growth and innovation, cross-cutting development leverage applied to every business activity. SUMMARY FIGURES 3 LETTER TO SHAREHOLDERS DEAR SHAREHOLDERS, In fact, the experience of this past year highlights how es- sential sustainability is for a new development model on a The year ended 31 December 2020 was made histor- global level and how crucial the role of utilities is to enable ic year by the spread of a pandemic that has not only this evolution and to relaunch the economy in our country. overwhelmed the whole of the human race in terms of health, but has unbalanced much that was thought to be Once again Acea has outlined its sustainable growth plan in unshakeable. the new 2020-2024 Business Plan, which shows, in pre- senting substantial aspects of continuity with respect to Our company faced the crisis with an extraordinary re- the previous plan, notable elements of change, especially sponse which deserves to be read beyond the numbers with regard to the significant growth in the production of represented here, but which are also an expression of the electricity from renewable sources, particularly in regard to commitment made. the photovoltaic sector, and activities carried out in view of This effort, combined with our financial strength and the smart city concepts, to contribute to the energy transition strength of our operating businesses allowed us, despite and decarbonisation in an increasingly pronounced way. the situation, to achieve results that grew compared to the previous year. Therefore, the position of the Group as an operator with a strong industrial vocation has been further consolidated The considerable increase in EBITDA is mainly attributa- and the desire to make major investments has been ble to the positive performance of the regulated activities strengthened that, while maintaining the robustness of the of water and electricity distribution. This demonstrates financial structure, have a positive impact on the Group's the effectiveness of a strategy aimed at achieving sus- operating and economic performance. tainability objectives that combines economic growth and Additionally, the constant drive towards innovation should value creation. be highlighted, with further investments in digitisation and 4 ACEA GROUP / 2020 CONSOLIDATED FINANCIAL STATEMENTS the creation of intelligent management systems for grids users, suppliers and in general anyone who had access to and services. the Group locations. The forecast for 2021 is for even more growth, even though At the same time, the commitment to protect water re- it is still a complex scenario. sources and to prevent and mitigate the effects of climate change continues, together with infrastructural growth in The success of the Green Bond placement last January con- the waste treatment sector and in the circular economy, firms that sustainability is a structural factor that guides stra- expanding know-how in asset management and bringing tegic business choices and operational management, with a value through the application of new technologies. view to consolidation and strengthening through new oppor- tunities for positioning the Group in the sectors of reference. Precisely by virtue of the role performed in these essen- tial sectors, Acea worked from the earliest evidence that Thank you to everyone who dedicated their time not only Covid-19 was spreading, to define and implement all the to achieving these results, but also for having contributed measures necessary to guarantee the continuity and to making Acea a company that is reliable and worthy of its quality of service, while at the same time adopting preven- customers' and stakeholders' trust. By talking and listening tion protocols for the safety of its people working in the to us, our customers and stakeholders have seen a distinc- territory, in the plants, in the offices and in branches open tive element in our company that we trust will continue to to the public, and taking care to also protect customers, grow over time. The Chief Executive Officer The Chairperson Giuseppe Gola Michaela Castelli SUMMARY FIGURES 5 6 GRUPPO ACEA / BILANCIO CONSOLIDATO 2020 DATI DI SINTESI 7 GROUP STRUCTURE THE GROUP STRUCTURE, IN ITS VARIOUS BUSINESS SEGMENTS, COMPRISES THE FOLLOWING MAIN COMPANIES. UMBRA 40% ACQUE 50% ECOMED ENERGY WATER INFRASTRUCTURE INTESA 96% ACEA ATO 2 35% ARETINA COMMERCIAL 100% ARETI 46% NUOVE ACQUE AND TRADING ACEA ENERGIA ACEA GESESA 98% ACEA ATO 5 58% 100% 50% UMBRIA 100% PRODUZIONE ENERGY 100% ECOGENA 100% ACEA SOLAR 100% FERGAS SARNESE PESCARA 100% ACEA SUN 99% VESUVIANO 51% DISTRIBUZIONE 100% ACEA ENERGY CAPITAL 37% GORI GAS MANAGEMENT 100% KT4 65% SOLARIA REAL ESTATE ALTO SANGRO ACEA 100% TRINOVOLT ACEA DISTRIBUZIONE 100% MARCHE % % 100% INNOVATION 100 51 GAS SOLAR MOLISE 100% EDI 55% NOTARESCO GAS 100% EUROLINE 3 100% IFV ENERGY UMBRIADUE 100% PF POWER SERVIZI IDRICI OF FUTURE 99% 49% ENERGY 40% INTEGRATED 49% BELARIA WATER SERVICES ENVIRONMENT OVERSEAS OMBRONE ACEA ACEA 99% 40% ACQUED. 100% 100% INTERNATIONAL ENGINEERING DEL FIORA ENVIRONMENT 100% ACEA 100% BIOECOLOGIA DOMINICANA AND SERVICES 90% DEMAP 100% ACEA PERU 80% ISECO 61% AGUAS ACQUE BLU 60% BERG DE SAN PEDRO ACEA % ARNO BASSO 60% CAVALLARI 77 51% CONSORCIO 100% ELABORI 45% ACQUE 60% MULTIGREEN SERVICIO SUR 70% SIMAM 60% FERROCART 44% CONSORCIO AGUA AZUL ACQUE BLU TECHNOLOGIES AQUASER CONSORCIO 75% FIORENTINE 88% 100% ACEA 100% WATER 40% PUBLIACQUA SERVICES ACQUE AGUAZUL INGEGNERIE 48% G.E.A.L. 51% INDUSTRIALI 51% BOGOTA 44% TOSCANE 8 ACEA GROUP / 2020 CONSOLIDATED FINANCIAL STATEMENTS INVESTOR RELATIONS THE SHARE CAPITAL OF ACEA SPA AT 31 DECEMBER 2020 WAS MADE UP AS FOLLOWS: 51,00% Roma Capitale 23,33% Suez 20,22% Market The above chart only shows equity 5,45% investments of more than 3%, as Caltagirone confirmed by CONSOB data. ACEA STOCK PERFORMANCE IN 2020 % CHANGE AT 31/12/2020 COMPARED TO 31/12/2019 22.0 ACEA 7.0% FTSE MIB -5.4% FTSE ITALIA ALL SHARE -5.6% FTSE ITALIA MID CAP -5.8% 20.0 18.0 16.0 14.0 12.0 12/01/2020 17/03/2020 12/04/2020 16/06/2020 12/07/2020 15/09/2020 11/10/2020 19/11/2020 15/12/2020 10.0 30/12/2019 25/01/2020 07/02/2020 20/02/2020 04/03/2020 30/03/2020 25/04/2020 08/05/2020 21/05/2020 03/06/2020 29/06/2020 25/07/2020 07/08/2020 20/08/2020 02/09/2020 28/09/2020 24/10/2020 06/11/2020 02/12/2020 28/12/2020 ACEA FTSE ITALIA ALL SHARE FTSE MIB FTSE ITALIA MID CAP (Graph normalised to Acea values. Source: Bloomberg) SUMMARY FIGURES 9 CORPORATE HIGHLIGHTS WATER ENERGY COMMERCIAL INFRASTRUCTURE AND TRADING NUMBER ONE ONE OF THE ONE OF THE OPERATOR LEADING LEADING in Italy for energy distribution national players water services operators in Italy in the energy market With around 9 mln With over 9 With around 7.1 residents served in TWh TWh Lazio, Tuscany, Umbria, of electricity of electricity Campania and Molise distributed sold ENVIRONMENT OVERSEAS ENGINEERING AND SERVICES ITALY’S LEADING A TOTAL FOUR DEDICATED OPERATOR OF COMPANIES in Waste Management 5 companies 448,185 operating drinking With around in water services water analyses 1.45 mln 7 mln 214,819 tonnes residents served in waste of waste managed Latin America water analyses 12 ACEA GROUP / 2020 CONSOLIDATED FINANCIAL STATEMENTS FINANCIAL HIGHLIGHTS FIGURES IN MILLIONS OF EUROS CONSOLIDATED REVENUES EBITDA 2020 3,379 2020 1,155 2019 3,186 2019 1,042 EBIT PROFIT/(LOSS) BEFORE TAX 2020 535 2020 461 2019 518 2019 430 NET PROFIT/(LOSS) OF THE GROUP GROUP INVESTMENTS 2020 285 2020 907 2019 284 2019 793 SUMMARY FIGURES 13 THE ORGANISATIONAL MODEL Acea adopts an operational model based on an organisational layout in line with the Strategic Business Plan consolidating its role to govern, guide and control the Holding not only with the current business portfolio focused on areas of greater value, but also on the strategic development of the Group in new business segments and territories. Acea's macro structure is organised in corporate functions and six operating segments: Water, Energy Infrastructure, Commercial and Trading, Environment, Overseas and Engineering and Services. The activities of each business segment are described below. EBITDA 2020 85% 15% 1,155 €mln REGULATED UNREGULATED ACTIVITIES ACTIVITIES WATER The Acea Group is the top Italian operator in the water sector serving around 9 million people. The Group manages the Integrated Water Services in Rome and Frosinone and in the respective provinces, as well as in other parts of Lazio, in Tuscany, Umbria, Campania and Molise. NUMBER ONE OPERATOR IN ITALY EBITDA +21.7% • Around 9 million residents served and 1,397 million cubic metres of water supplied annually 2020 614 • Around 58,700 km of drinking water supply network and 2019 23,700 km of sewer network managed 505 • Management of the entire integrated water cycle supply chain from collection of water through to its return to the environment • Design, construction and operation of distribution plants and networks using innovative technologies • Focus on protecting water resources and sustainability INVESTMENTS +25.2% 2020 476 53% of consolidated EBITDA 2019 380 14 ACEA GROUP / 2020 CONSOLIDATED FINANCIAL STATEMENTS FIGURES IN MILLIONS OF EUROS ENERGY INFRASTRUCTURE The Acea Group is a major operator in Italy with over 9 TWh of electricity distributed in Rome and Formello.
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