Index
| A2A 2025 Investor Databook | |
| This excel file includes the historical economic, financial and operational company data - on annual and quarterly basis, mainly relevant to a quantitative analysis. | |
| INDEX | |
| About A2A | Annexes |
| - Highlights | - Consolidated Income Statement |
| - A2A assets | - Capital Empoyed and Sources of Financing |
| - Consolidated Balance Sheet | |
| Our Results | - Historical Energy Scenario |
| - BU Generation | |
| - BU Market | |
| - BU Waste | |
| - BU Smart Infrastructures | |
| - BU Corporate | |
| - Quarterly Volumes | |
| - Quarterly Results |
Highlights
| Back to Index | ||||||||||||||||||
| A2A Group Highlights | ||||||||||||||||||
| (million euros) | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | |
| Consolidated income statement | Revenues | 12,857 | 14,758 | 23,156 | 11,549 | 6,848 | 7,324 | 6,494 | 5,796 | 5,093 | 4,921 | 4,984 | 5,604 | 6,480 | 6,130 | 6,041 | 5,401 | 6,094 |
| Reported EBITDA | 2,328 | 1,971 | 1,498 | 1,428 | 1,200 | 1,234 | 1,231 | 1,199 | 1,231 | 1,048 | 1,024 | 1,133 | 1,068 | 924 | 1,040 | 1,023 | 1,068 | |
| Ordinary EBITDA | 2,317 | 1,930 | 1,488 | 1,397 | 1,187 | 1,192 | 1,192 | 1,135 | 1,103 | 1,022 | 988 | |||||||
| D&A and Provisions | -1,011 | -954 | -816 | -755 | -641 | -538 | -483 | -455 | -474 | -474 | -503 | -626 | -565 | -508 | -533 | -414 | -347 | |
| Write-Downs | 0 | 0 | 0 | -13 | -5 | -9 | -160 | -34 | -245 | -359 | -159 | -250 | -2 | -118 | -9 | 0 | -22 | |
| EBIT | 1,317 | 1,017 | 682 | 660 | 554 | 687 | 588 | 710 | 512 | 215 | 362 | 257 | 501 | 298 | 498 | 609 | 699 | |
| Net Financial Expenses | -113 | -139 | -90 | -72 | -81 | -114 | -116 | -139 | -158 | -134 | -165 | -183 | -193 | -126 | -132 | -277 | -200 | |
| Associates & JV | 2 | 0 | 2 | 2 | 0 | 4 | 4 | 5 | -3 | -4 | -45 | -23 | 13 | -132 | 28 | 66 | 60 | |
| Non recurr. Transactions | 5 | 2 | 157 | 0 | 0 | 4 | 14 | 0 | 52 | -1 | 9 | 75 | 45 | -4 | -1 | -166 | 13 | |
| EBT | 1,211 | 879 | 751 | 590 | 473 | 581 | 490 | 576 | 403 | 76 | 161 | 126 | 366 | 36 | 393 | 232 | 572 | |
| Taxes | -319 | -199 | -344 | -36 | -99 | -189 | -157 | -192 | -122 | -133 | -179 | -51 | -128 | -147 | -158 | -144 | -227 | |
| Other items | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 52 | -1 | 9 | 75 | 45 | -4 | -1 | -166 | 13 | |
| Minorities | -28 | -24 | -47 | -46 | -4 | -4 | -10 | -6 | 1 | 130 | -19 | -13 | -11 | 496 | 112 | -27 | -31 | |
| Net result from discontinued operations | 0 | 3 | 41 | -4 | -6 | 1 | 21 | -85 | 19 | 0 | 0 | 0 | 33 | -808 | -39 | 19 | 2 | |
| Group net income | 864 | 659 | 401 | 504 | 364 | 389 | 344 | 293 | 232 | 73 | -37 | 62 | 260 | -423 | 308 | 80 | 316 | |
| Ordinary Group Net income | 816 | 635 | 380 | 371 | 335 | 378 | 438 | 413 | 377 | 278 | 175 | 156 | 116 | 165 | 243 | 324 | 316 | |
| Dividends | Distributed Dividend (accrual basis) | 313 | 300 | 283 | 283 | 249 | 241 | 218 | 180 | 153 | 126 | 113 | 102 | 81 | 40 | 298 | 217 | 301 |
| DPS (€) | 0.100 | 0.0958 | 0.0904 | 0.0904 | 0.080 | 0.0775 | 0.07 | 0.0578 | 0.0492 | 0.041 | 0.0363 | 0.033 | 0.026 | 0.013 | 0.096 | 0.070 | 0.097 | |
| Pay-out ratio on Ord. Group Net Income | 38.4% | 47.3% | 74.5% | 76.3% | 74.2% | 63.7% | 49.7% | 43.5% | 40.6% | 45.3% | 64.4% | 65.7% | 69.6% | 24.5% | 122.7% | 67.1% | 95.3% | |
| Dividend Yield (%) | 5.2% | 5.9% | 6.6% | 5.4% | 6.1% | 4.8% | 4.6% | 4.1% | 4.2% | 3.8% | 4.3% | 5.2% | 5.2% | 1.3% | 8.0% | 5.4% | 4.5% | |
| Balance Sheet | Net Equity | 6,003 | 4,802 | 4,467 | 4,303 | 4,116 | 3,651 | 3,523 | 3,013 | 3,271 | 3,259 | 3,179 | 3,348 | 3,697 | 3,593 | 4,845 | 4,595 | 4,722 |
| Net Capital Employed | 11,838 | 9,485 | 8,725 | 8,416 | 7,588 | 6,805 | 6,545 | 6,239 | 6,415 | 6,156 | 6,542 | 7,222 | 8,069 | 7,614 | 8,738 | 9,239 | 8,206 | |
| Net Financial Position | Net Financial Position | -5,835 | -4,683 | -4,258 | -4,113 | -3,472 | -3,154 | -3,022 | -3,226 | -3,136 | -2,897 | -3,363 | -3,874 | -4,372 | -4,021 | -3,893 | -4,644 | -3,484 |
| Consolidated Capex | 1,512 | 1,376 | 1,240 | 1,074 | 738 | 627 | 500 | 450 | 349 | 317 | 282 | 284 | 360 | 310 | 332 | 438 | 412 | |
| Net Free cash flow - Change in NFP | -1,152 | -426 | -145 | -641 | -318 | -132 | 204 | -90 | -239 | 466 | 511 | 498 | -351 | -128 | 751 | -960 | -220 | |
| Manpower (units) | 14,777 | 13,958 | 13,655 | 13,267 | 12,907 | 12,186 | 12,080 | 11,436 | 13,494 | 12,083 | 11,971 | 12,392 | 12,563 | 11,886 | 12,293 | 9,110 | 8,558 |
Assets
| Back to Index | |||||||
| ENERGY | WASTE | ||||||
| GENERATION | Capacity (MW) | Production (GWh) | MARKET | Electricity | Gas | Inhabitants served | 3.94 M |
| Total RES | 2,555 | 6,032 | Total customers | 2,095 k | 1,549 k | WTE Plants (n.): | 11 |
| - Hydroelectric | 1,945 | 5,193 | - Free market | 1,539 k | 1,379 k | Biogas/Biomass/Bioenergy plants (n.): | 24 |
| - Photovoltaic | 337 | 382 | - Regulated market | 86 k | 170 k | Other treatment plants (n.): | 35 |
| - Wind | 273 | 457 | - Gradual Protection | 470 k | |||
| Total thermoelectric | 6,687 | 6,189 | Total sales | 24,502 GWh | 3,139 Mcm | Thermal capacity | 561 MWt |
| - CCGT | 5,492 | 5,718 | - Free market | 21,166 GWh | 3,050 Mcm | Electricity capacity | 456 MW |
| - Coal | 309 | 0 | - Regulated market | 293 GWh | 89 Mcm | Waste collected | 1,825 Kton |
| - Fuel Oil | 886 | 471 | - Gradual Protection | 3,043 GWh | | Waste disposed | 4,732 Kton |
| Syncronous condensers | 492 | WTE heat production | 1,661 GWht | ||||
| Trading activities in Italy and European energy markets: power, gas & environmental markets (white certificates, CO2) | Energy efficiency servicing (e.g. PV for B2B, energy efficiency of buildings) | WTE and biogas electricity production | 2,106 GWh | ||||
| Technological partnerships: 8 plants (UK, Spain, Greece) | |||||||
| SMART INFRASTRUCTURES | |||||||
| | Electricity | Gas | Water | HEAT | |||
| Regulatory Asset Base (RAB) | 1,089 €M | 1,726 €M | 542 €M | Heat production | 1.4 TWht | ||
| Heat volumes sales | 3.1 TWht | ||||||
| Network length | 16,490 km | 13,928 km | 5,342 km (Aqueduct) | Cogen. electricity sales | 0.6 TWh | ||
| District Heating Customers | 541 k flats | ||||||
| Quantities distributed | 11.0 TWh | 2.6 Bcm | 66 Mcm | ||||
| OTHER | |||||||
| Points of delivery | 1.27 M | 1.86 M | 0.7 M (Customers) | EV Charging Points | 1.9k | ||
| Public lighting | 0.4M |
BU Generation
| GENERATION BUSINESS UNIT | Back to Index | |||||||
| The activity of the Generation and Trading Business Unit is related to the management of the generation plants portfolio of the Group with the dual purpose of maximizing the availability and efficiency of the plants, minimizing operating and maintenance costs (O&M) and maximizing the profit deriving from the management of the energy portfolio through the purchase and sale of electricity and fuels (gaseous and non-gaseous) and environmental certificated on domestic and international wholesale markets. This Business Unit also includes the activity of trading on domestic and foreign markets of all energy commodities (gas, electricity, environmental certificates). | ||||||||
| Economic Data (€M) | 2024 | 2023 | 2022 | 2021 | 2020 | ASSETS | ||
| Revenues | 8,519 | 10,920 | 19,605 | 8,095 | 3,861 | |||
| EBITDA | 986 | 829 | 554 | 368 | 269 | Capacity (MW) | Production (GWh) | |
| - RES | 711 | 472 | Total RES | 2,555 | 6,032 | |||
| - Flexibility | 274 | 357 | - Hydroelectric | 1,945 | 5,193 | |||
| EBIT | 702 | 554 | 317 | 160 | 99 | - Photovoltaic | 337 | 382 |
| CAPEX | 370 | 332 | 272 | 144 | 76 | - Wind | 273 | 457 |
| FTE (units) | 1,120 | 1,107 | 1,071 | 1,051 | 1,068 | Total thermoelectric | 6,687 | 6,189 |
| Labour cost | 105 | 99 | 91 | 85 | 87 | - CCGT | 5,492 | 5,718 |
| Net Invested Capital | 2,646 | 2,184 | 1,881 | 1,992 | - Coal | 309 | 0 | |
| - Fuel Oil | 886 | 471 | ||||||
| Operating Data | 2024 | 2023 | 2022 | 2021 | 2020 | Syncronous condensers | 492 | |
| Net Production (GWh) | 12,221 | 13,683 | 19,003 | 18,622 | 16,770 | Trading activities in Italy and European energy markets: power, gas & environmental markets (white certificates, CO2) | ||
| - Thermoelectric production | 6,189 | 9,134 | 15,636 | 14,078 | 12,233 | |||
| CCGT production | 5,718 | 7,601 | 12,836 | 12,459 | 11,461 | |||
| Coal production | 0 | 312 | 663 | 157 | 114 | |||
| Oil production | 471 | 1,221 | 2,137 | 1,462 | 658 | Hydroelectric Plants | MW | Concession expiry |
| - RES Production | 6,032 | 4,549 | 3,367 | 4,544 | 4,537 | Valtellina (mainly) | 715 | expired (temporary continuation) |
| Hydroelectric production | 5,193 | 3,743 | 2,729 | 4,231 | 4,408 | Other Lombardy | 107 | 2032-2043 |
| Photovoltaic production | 382 | 378 | 387 | 291 | 127 | Calabria, Mese and Udine | 1123 | 2029 |
| Wind production | 457 | 428 | 251 | 22 | 2 | Total hydroelectric capacity | 1,945 | |
| Capacity installed (MW) | 9,242 | 9,221 | 9,055 | 8,659 | 8,470 | |||
| - Total thermoelectric | 6,687 | 6,687 | 6,551 | 6,428 | 6,427 | |||
| - CCGT | 5,492 | 5,492 | 5,356 | 5,233 | 5,232 | |||
| - Coal | 309 | 309 | 309 | 309 | 309 | |||
| - Fuel Oil | 886 | 886 | 886 | 886 | 886 | |||
| - Total RES | 2,555 | 2,534 | 2,504 | 2,231 | 2,043 | |||
| - Hydroelectric | 1,945 | 1,945 | 1,945 | 1,944 | 1,944 | |||
| - Photovoltaic | 337 | 315 | 315 | 278 | 99 | |||
| - Wind | 273 | 273 | 243 | 8 |
BU Market
| MARKET BUSINESS UNIT | Back to Index | |||||||||
| The activities of the Market Business Unit 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. Furthermore, it deals with providing energy efficiency and electric mobility services. | ||||||||||
| Economic Data (€M) | 2024 | 2023 | 2022 | 2021 | 2020 | ASSETS | ||||
| Revenues | 6,670 | 7,140 | 8,798 | 3,885 | 2,515 | |||||
| EBITDA | 462 | 299 | 125 | 214 | 202 | Electricity | Gas | |||
| Energy Retail | 460 | 297 | 124 | 215 | 202 | Total customers | 2,095 | k | 1,549 | k |
| - Electricity Contr. Margin | 384 | 265 | - Free market | 1,539 | k | 1,379 | k | |||
| - Gas Contr. Margin | 332 | 257 | - Regulated market | 86 | k | 170 | k | |||
| - Operating costs and other | -256 | -226 | - Gradual Protection | 470 | k | |||||
| Energy Solutions | 2 | 2 | 1 | -1 | 0 | Total sales | 24,502 | GWh | 3,139 | Mcm |
| EBIT | 308 | 167 | -15 | 138 | 142 | - Free market | 21,166 | GWh | 3,050 | Mcm |
| CAPEX | 115 | 92 | 71 | 73 | 53 | - Regulated market | 293 | GWh | 89 | Mcm |
| FTE (units) | 1,010 | 1,034 | 973 | 907 | 815 | - Gradual Protection | 3,043 | GWh | | |
| Labour cost | 73 | 64 | 58 | 53 | 49 | |||||
| Net Invested Capital | 1,054 | 823 | 849 | 635 | ||||||
| Operating Data | 2024 | 2023 | 2022 | 2021 | 2020 | |||||
| Electricity sales (GWh) | 24,502 | 22,964 | 20,737 | 18,426 | 15,012 | |||||
| - Free market sales | 21,166 | 18,543 | 18,423 | 15,968 | 13,587 | |||||
| - Protected market sales | 293 | 517 | 732 | 983 | 1,213 | |||||
| - Safeguard market sales | 3,043 | 3,904 | 1,582 | 1,475 | 212 | |||||
| Gas sales (Mcm) | 3,139 | 3,032 | 2,677 | 2,711 | 2,365 | |||||
| - Free market sales | 3,050 | 2,743 | 2,282 | 2,146 | 1,810 | |||||
| - Protected market sales | 89 | 289 | 395 | 565 | 555 | |||||
| Electricity - POD (k) | 2,095 | 1,935 | 1,491 | 1,368 | 1,270 | |||||
| - Free Market | 1,539 | 1,307 | 1,128 | 923 | 823 | |||||
| - Protected Market | 86 | 249 | 323 | 382 | 447 | |||||
| - Safeguard | 470 | 378 | 40 | 63 | ||||||
| Gas POD (k) | 1,549 | 1,555 | 1,579 | 1,567 | 1,614 | |||||
| - Free Market | 1,379 | 1,178 | 1,043 | 929 | 868 | |||||
| - Protected Market | 170 | 377 | 536 | 638 | 746 |
BU Waste
| WASTE BUSINESS UNIT | Back to Index | ||||||
| The activities of the Waste Business Unit relates to the management of the integrated waste 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. 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. The Waste Business Unit includes the activities carried out abroad for the provision of know-how and technologies for the realization of waste pre-treatment plants | |||||||
| Economic Data (€M) | 2024 | 2023 | 2022 | 2021 | 2020 | ASSETS | |
| Revenues | 1,540 | 1458 | 1422 | 1260 | 1111 | ||
| EBITDA | 409 | 375 | 359 | 341 | 282 | Inhabitants served | 3.94 M |
| - Collection | 64 | 64 | 54 | 72 | 60 | WTE Plants (n.) | 11 |
| - Industrial treatment | 44 | 42 | 43 | 43 | 36 | Biomass and bioenergy plants (n.) | 24 |
| - Urban treatment | 301 | 269 | 262 | 226 | 186 | MBT and SRF production plants (n.) | 13 |
| - International projects | Organic waste treatment plants (n.) | 5 | |||||
| EBIT | 208 | 206 | 243 | 182 | 111 | Material recovery plants (n.) | 12 |
| CAPEX | 256 | 214 | 264 | 273 | 174 | Multifunctional platforms (n.) | 5 |
| FTE (units) | 6,902 | 6,703 | 6,571 | 6,470 | 6,046 | ||
| Labour cost | 388 | 365 | 353 | 337 | 326 | Thermal capacity | 561 MWt |
| Net Invested Capital | 1,761 | 1,620 | 1,469 | 1,400 | Electricity capacity | 456 MW | |
| Waste collected | 1,825 Kton | ||||||
| Operating Data | 2024 | 2023 | 2022 | 2021 | 2020 | Waste disposed | 4,732 Kton |
| Waste collected (Kton) | 1,825 | 1,787 | 1,785 | 1,893 | 1,660 | WTE heat production | 1,661 GWht |
| Inhabitants served (#/1000) | 3,943 | 3,878 | 3,965 | 4,065 | 4,117 | WTE and biogas electricity production | 2,106 GWh |
| Waste disposed of (Kton) gross volumes as of 2022 | 4,732 | 4,565 | 4,168 | 3,422 | 3,348 | Technological partnerships: 8 plants (UK, Spain, Greece) | |
| - Material Recovery | 1,141 | 1,131 | 1,142 | ||||
| - Energy Recovery | 2,175 | 2,025 | 1,833 | ||||
| - Other | 1,416 | 1,409 | 1,194 | ||||
| Electricity production - WTE and biogas plants (GWh) | 2,106 | 2,071 | 2,121 | 2,082 | 1,954 | ||
| Heat produced (GWht) | 1,661 | 1,544 | 1,487 | 1,640 | 1,557 |
BU Smart Infrastructures
| SMART INFRASTRUCTURES BUSINESS UNIT | Back to Index | |||||||||||
| The Smart Infrastructures Business Unit develops and manages the infrastructures functional to the wide range of services provided by the Group, focusing on technology and innovation. In particular, the Business Unit's activity mainly concerns the development and technical-operational management of electricity distribution networks, natural gas transport and distribution networks and the related metering service, characterized by important technological evolutions thanks to the use of smart meters. It manages the entire integrated water cycle (water collection, aqueduct management, water distribution, sewerage management, purification). The activity is also aimed at the sale of heat and electricity produced by cogeneration plants (mostly owned by the Group), through district heating networks and ensures the operation and maintenance of cogeneration plants and district heating networks. Also included are the activities related to the management services for heating plants owned by third parties (heat management services). The Smart Infrastructures Business Unit also develops infrastructures in the field of telecommunications, designs solutions and applications aimed at creating new models of cities and territories and improving the quality of life of citizens. It should be noted that from January 2021, the Business Unit develops and manages public lighting and traffic regulation systems; finally, it builds and manages a network of recharging infrastructures functional to the electrification of transport. | ||||||||||||
| Economic Data (€M) | 2024 | 2023 | 2022 | 2021 | 2020 | ASSETS | ||||||
| Revenues | 1,492 | 1,552 | 1,529 | 1,280 | 1,136 | |||||||
| EBITDA | 552 | 534 | 512 | 538 | 471 | | Electricity | Gas | Water | |||
| - Electricity | 165 | 156 | 137 | 149 | 137 | RAB (€M) | 1,089 | 1,726 | 542 | |||
| - Gas | 181 | 162 | 145 | 185 | 158 | Network length (Km) | 16,490 | 13,928 | 5,342 | (Aqueduct) | ||
| - Integrated Water Cycle | 73 | 67 | 61 | 76 | 61 | Quantities distributed | 11.0 | TWh | 2.6 | Bcm | 66 | Mcm |
| - District Heating | 100 | 121 | 135 | 108 | 86 | Points of delivery (M) | 1.27 | 1.86 | 0.7 | (Customers) | ||
| - Public Lighting | 23 | 21 | 26 | 18 | 19 | |||||||
| - Smart City | 11 | 9 | 10 | 2 | 10 | |||||||
| - E-mobility | -1 | -2 | -2 | 0 | 0 | HEAT | OTHER | |||||
| EBIT | 260 | 230 | 248 | 264 | 265 | Heat production (TWht) | 1.4 | Lighting points (M) | 0.4 | |||
| CAPEX | 660 | 631 | 560 | 516 | 389 | Heat volumes sales (TWht) | 3.1 | EV Charging points | 1.9 k | |||
| - Electricity distribution | 274 | 249 | 203 | 183 | 138 | Cogeneration electricity sales (TWh) | 0.6 | |||||
| - Gas distribution | 141 | 147 | 133 | 126 | 103 | Customers (flats) | 541 k | |||||
| - Integrated Water Cycle | 93 | 101 | 102 | 95 | 74 | |||||||
| - District Heating | 111 | 107 | 86 | 86 | 52 | |||||||
| - Public Lighting | 12 | 13 | 17 | 15 | 11 | |||||||
| - Smart City | 18 | 6 | 14 | 10 | 11 | |||||||
| - E-mobility | 11 | 8 | 5 | 1 | 0 | |||||||
| Net Invested Capital | 6,097 | 4,611 | 4,456 | 4,107 | ||||||||
| FTE (units) | 3,267 | 3,147 | 3,075 | 3,052 | 2,918 | |||||||
| Labour cost | 130 | 114 | 112 | 105 | 110 | |||||||
| Operating Data | 2024 | 2023 | 2022 | 2021 | 2020 | |||||||
| NETWORKS | ||||||||||||
| Electricity distributed (GWh) | 11,030 | 10,882 | 11,238 | 11,423 | 10,673 | |||||||
| Gas distributed (Mcm) | 2,613 | 2,503 | 2,726 | 3,448 | 2,996 | |||||||
| Water distributed (Mcm) | 66 | 68 | 75 | 76 | 77 | |||||||
| DISTRICT HEATING | ||||||||||||
| Total sources | 3,513 | 3,180 | 3,295 | 3,691 | 3,417 | |||||||
| - Heat production (GWht)(1) | 1,396 | 1,269 | 1,363 | 1,554 | 1,369 | |||||||
| - Purchases from other Business Units (GWht)(2) | 1,641 | 1,524 | 1,559 | 1,664 | 1,576 | |||||||
| - Purchases from third parties (GWht) | 476 | 387 | 373 | 473 | 472 | |||||||
| Heat sold (GWht) | 3,079 | 2,667 | 2,816 | 3,178 | 2,836 | |||||||
| Distribution losses (GWht) | 579 | 513 | 479 | 513 | 581 | |||||||
| Electricity production - cogeneration plants (GWh) | 635 | 595 | 421 | 297 | 298 | |||||||
| RAB | ||||||||||||
| Electricity RAB (€M) | 1,089 | 953 | 827 | 753 | 692 | |||||||
| Gas RAB (€M) | 1,726 | 1,599 | 1,498 | 1,466 | 1,538 | |||||||
| Water RAB (€M) | 542 | 477 | 399 | 411 | 379 | |||||||
| (1) Figures Include the production of Lamarmora, Famagosta, Tecnocity and other plants | ||||||||||||
| (2) Figures include heat production of WTE plants and Cassano thermoelectric plant |
BU Corporate
| CORPORATE BUSINESS UNIT | Back to Index | ||||
| Corporate services include the activities of guidance, strategic direction, coordination and control of industrial operations, as well as services to support the business and operating activities (e.g. administrative and accounting services, legal services, procurement, personnel management, information technology, communications, landline and mobile telephone service etc.) whose costs, net of amounts recovered from accrual to individual Business Units based on services rendered, remain the responsibility of the Corporate. | |||||
| Economic Data (€M) | |||||
| (million euros) | 2024 | 2023 | 2022 | 2021 | 2020 |
| Revenues | 353 | 337 | 320 | 301 | 264 |
| EBITDA | -81 | -66 | -52 | -33 | -24 |
| EBIT | -161 | -140 | -111 | -84 | -63 |
| CAPEX | 112 | 110 | 73 | 77 | 51 |
| FTE (Units) | 1,871 | 1,730 | 1,628 | 1,541 | 1,405 |
| Labour cost | 196 | 173 | 151 | 141 | 131 |
|
Net Invested Capital Roncallo Lucrezia: Roncallo Lucrezia: including Elisions |
280 | 247 | 70 | 282 |
Quarterly Results
| Quarterly Results (2020-2024) | 2020A | 2021A | 2022A | 2023A | 2024 | Back to Index | |||||||||||||||||||||||||||||
| Q1'20 | Q2'20 | H1'20 | Q3'20 | 9M'20 | Q4'20 | FY'20 | Q1'21 | Q2'21 | H1'21 | Q3'21 | 9M'21 | Q4'21 | FY'21 | Q1'22 | Q2'22 | H1'22 | Q3'22 | 9M'22 | Q4'22 | FY'22 | Q1'23 | Q2'23 | H1'23 | Q3'23 | 9M'23 | Q4'23 | FY'23 | Q1'24 | Q2'24 | H1'24 | Q3'24 | 9M'24 | Q4'24 | FY'24 | |
| Consolidated Revenues | 1,707 | 1,474 | 3,181 | 1,624 | 4,805 | 2,043 | 6,848 | 2,174 | 1,886 | 4,060 | 2,396 | 6,456 | 5,093 | 11,549 | 5,540 | 4,238 | 9,778 | 7,091 | 16,869 | 6,287 | 23,156 | 5,133 | 2,856 | 7,989 | 2,963 | 10,952 | 3,806 | 14,758 | 3,425 | 2,666 | 6,091 | 3,006 | 9,097 | 3,760 | 12,857 |
| Generation & Trading EBITDA | 58 | 40 | 98 | 76 | 174 | 95 | 269 | 90 | 60 | 150 | 53 | 203 | 165 | 368 | 126 | 95 | 221 | 224 | 445 | 109 | 554 | 179 | 128 | 307 | 234 | 541 | 288 | 829 | 298 | 258 | 556 | 240 | 796 | 190 | 986 |
| Ordinary | 56 | 34 | 90 | 75 | 165 | 96 | 261 | 89 | 59 | 148 | 48 | 196 | 162 | 358 | 130 | 91 | 221 | 224 | 445 | 118 | 563 | 178 | 124 | 302 | 232 | 534 | 258 | 792 | 298 | 254 | 552 | 231 | 783 | 190 | 973 |
| One-off | 2 | 6 | 8 | 1 | 9 | -1 | 8 | 1 | 1 | 2 | 5 | 7 | 3 | 10 | -4 | 4 | 0 | 0 | 0 | -9 | -9 | 1 | 4 | 5 | 2 | 7 | 30 | 37 | 0 | 4 | 4 | 9 | 13 | 0 | 13 |
| Market EBITDA | 61 | 43 | 104 | 36 | 140 | 62 | 202 | 67 | 53 | 120 | 41 | 161 | 53 | 214 | -21 | 29 | 8 | 62 | 70 | 55 | 125 | 48 | 74 | 122 | 83 | 205 | 94 | 299 | 135 | 116 | 251 | 112 | 363 | 99 | 462 |
| Ordinary | 60 | 44 | 104 | 35 | 139 | 60 | 199 | 67 | 53 | 120 | 39 | 159 | 41 | 200 | -21 | 28 | 7 | 61 | 68 | 55 | 123 | 47 | 76 | 123 | 84 | 207 | 110 | 317 | 134 | 118 | 252 | 110 | 362 | 99 | 461 |
| One-off | 1 | -1 | 0 | 1 | 1 | 2 | 3 | 0 | 0 | 0 | 2 | 2 | 12 | 14 | 0 | 1 | 1 | 1 | 2 | 0 | 2 | 1 | -2 | -1 | -1 | -2 | -16 | -18 | 1 | 0 | 1 | 0 | 1 | 0 | 1 |
| of which A2A Energy Retail | 49 | 60 | 109 | 35 | 144 | 58 | 202 | 68 | 55 | 123 | 38 | 161 | 54 | 215 | -21 | 29 | 8 | 63 | 71 | 53 | 124 | 48 | 73 | 121 | 83 | 204 | 93 | 297 | 135 | 116 | 251 | 112 | 363 | 97 | 460 |
| Ordinary | 48 | 61 | 109 | 34 | 143 | 56 | 199 | 68 | 55 | 123 | 38 | 161 | 40 | 201 | -21 | 28 | 7 | 62 | 69 | 53 | 122 | 47 | 75 | 122 | 84 | 206 | 109 | 315 | 134 | 118 | 252 | 110 | 362 | 97 | 459 |
| One-off | 1 | -1 | 0 | 1 | 1 | 2 | 3 | 0 | 0 | 0 | 0 | 0 | 14 | 14 | 0 | 1 | 1 | 1 | 2 | 0 | 2 | 1 | -2 | -1 | -1 | -2 | -16 | -18 | 1 | -1 | 0 | 1 | 1 | 0 | 1 |
| Waste EBITDA | 77 | 66 | 143 | 66 | 209 | 73 | 282 | 86 | 78 | 164 | 74 | 238 | 103 | 341 | 123 | 84 | 207 | 80 | 287 | 72 | 359 | 122 | 81 | 203 | 75 | 278 | 97 | 375 | 117 | 99 | 216 | 89 | 305 | 104 | 409 |
| Ordinary | 77 | 65 | 142 | 67 | 209 | 72 | 281 | 86 | 77 | 163 | 74 | 237 | 96 | 333 | 123 | 82 | 205 | 76 | 281 | 69 | 350 | 122 | 79 | 201 | 74 | 275 | 97 | 372 | 116 | 86 | 202 | 90 | 292 | 104 | 396 |
| One-off | 0 | 1 | 1 | -1 | 0 | 1 | 1 | 0 | 1 | 1 | 0 | 1 | 7 | 8 | 0 | 2 | 2 | 4 | 6 | 3 | 9 | 0 | 2 | 2 | 1 | 3 | 0 | 3 | 1 | 13 | 14 | -1 | 13 | 0 | 13 |
| Smart Infrastructures EBITDA | 141 | 86 | 227 | 87 | 314 | 157 | 471 | 160 | 106 | 266 | 101 | 367 | 171 | 538 | 165 | 111 | 276 | 79 | 355 | 157 | 512 | 159 | 111 | 270 | 96 | 366 | 168 | 534 | 166 | 123 | 289 | 99 | 388 | 164 | 552 |
| Ordinary | 141 | 85 | 226 | 87 | 313 | 148 | 461 | 160 | 102 | 262 | 100 | 362 | 169 | 531 | 164 | 96 | 260 | 81 | 341 | 154 | 495 | 152 | 111 | 263 | 97 | 360 | 155 | 515 | 163 | 126 | 289 | 100 | 389 | 166 | 555 |
| One-off | 0 | 1 | 1 | 0 | 1 | 9 | 10 | 0 | 4 | 4 | 1 | 5 | 2 | 7 | 1 | 15 | 16 | -2 | 14 | 3 | 17 | 7 | 0 | 7 | -1 | 6 | 13 | 19 | 3 | -3 | 0 | -1 | -1 | -2 | -3 |
| of which A2A Networks - Ele+Gas+Water | 75 | 83 | 158 | 95 | 253 | 107 | 360 | 98 | 98 | 196 | 100 | 296 | 114 | 410 | 85 | 91 | 176 | 75 | 251 | 92 | 343 | 90 | 92 | 182 | 92 | 274 | 111 | 385 | 102 | 108 | 210 | 102 | 312 | 107 | 419 |
| Ordinary | 75 | 82 | 157 | 95 | 252 | 102 | 354 | 98 | 94 | 192 | 99 | 291 | 110 | 401 | 85 | 77 | 162 | 77 | 239 | 91 | 330 | 90 | 91 | 181 | 92 | 273 | 100 | 373 | 101 | 109 | 210 | 102 | 312 | 110 | 422 |
| One-off | 0 | 1 | 1 | 0 | 1 | 5 | 6 | 0 | 4 | 4 | 1 | 5 | 4 | 9 | 0 | 14 | 14 | -2 | 12 | 1 | 13 | 0 | 1 | 1 | 0 | 1 | 11 | 12 | 1 | -1 | 0 | 0 | 0 | -3 | -3 |
| of which A2A Heat | 52 | 0 | 52 | -8 | 44 | 42 | 86 | 57 | 4 | 61 | -6 | 55 | 53 | 108 | 74 | 12 | 86 | -4 | 82 | 53 | 135 | 62 | 17 | 79 | -6 | 73 | 48 | 121 | 57 | 7 | 64 | -10 | 54 | 46 | 100 |
| Ordinary | 52 | 0 | 52 | -8 | 44 | 41 | 85 | 57 | 4 | 61 | -6 | 55 | 53 | 108 | 73 | 11 | 84 | -3 | 81 | 52 | 133 | 57 | 17 | 74 | -5 | 69 | 47 | 116 | 56 | 8 | 64 | -10 | 54 | 47 | 101 |
| One-off | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 2 | -1 | 1 | 1 | 2 | 5 | 0 | 5 | -1 | 4 | 1 | 5 | 1 | -1 | 0 | 0 | 0 | -1 | -1 |
| Corporate and Intl. EBITDA | -6 | -7 | -13 | -2 | -15 | -9 | -24 | -4 | -6 | -10 | 0 | -10 | -23 | -33 | -4 | -9 | -13 | -8 | -21 | -31 | -52 | -7 | -15 | -22 | -14 | -36 | -30 | -66 | -13 | -21 | -34 | -14 | -48 | -33 | -81 |
| Ordinary | -4 | -5 | -9 | 1 | -8 | -7 | -15 | -3 | -4 | -7 | -1 | -8 | -17 | -25 | -3 | -8 | -11 | -4 | -15 | -28 | -43 | -6 | -15 | -21 | -8 | -29 | -37 | -66 | -12 | -14 | -26 | -12 | -38 | -30 | -68 |
| One-off | -2 | -2 | -4 | -3 | -7 | -2 | -9 | -1 | -2 | -3 | 1 | -2 | -6 | -8 | -1 | -1 | -2 | -4 | -6 | -3 | -9 | -1 | 0 | -1 | -6 | -7 | 7 | 0 | -1 | -7 | -8 | -2 | -10 | -3 | -13 |
| Reported EBITDA | 331 | 228 | 559 | 263 | 822 | 378 | 1,200 | 399 | 291 | 690 | 269 | 959 | 469 | 1,428 | 389 | 310 | 699 | 437 | 1,136 | 362 | 1,498 | 501 | 379 | 880 | 474 | 1,354 | 617 | 1,971 | 703 | 575 | 1,278 | 526 | 1,804 | 524 | 2,328 |
| One-off | 1 | 5 | 6 | -2 | 4 | 9 | 13 | 0 | 4 | 4 | 9 | 13 | 18 | 31 | -4 | 21 | 17 | -1 | 16 | -13 | 3 | 8 | 4 | 12 | -5 | 7 | 34 | 41 | 4 | 7 | 11 | 5 | 16 | -5 | 11 |
| Ordinary EBITDA | 330 | 223 | 553 | 265 | 818 | 369 | 1,187 | 399 | 287 | 686 | 260 | 946 | 451 | 1,397 | 393 | 289 | 682 | 438 | 1,120 | 368 | 1,488 | 493 | 375 | 868 | 479 | 1,347 | 583 | 1,930 | 699 | 570 | 1,269 | 519 | 1,788 | 529 | 2,317 |
| D&A, Provisions and Writedowns | -135 | -143 | -278 | -144 | -422 | -224 | -646 | -162 | -173 | -335 | -170 | -505 | -263 | -768 | -206 | -165 | -371 | -214 | -585 | -231 | -816 | -212 | -221 | -433 | -239 | -672 | -282 | -954 | -238 | -276 | -514 | -220 | -734 | -277 | -1011 |
| D&A | -131 | -133 | -264 | -139 | -403 | -144 | -547 | -156 | -167 | -323 | -168 | -491 | -175 | -666 | -174 | -175 | -349 | -179 | -528 | -194 | -722 | -190 | -191 | -381 | -198 | -579 | -222 | -801 | -216 | -223 | -439 | -218 | -657 | -227 | -884 |
| Provisions | -4 | -10 | -14 | -5 | -19 | -75 | -94 | -6 | -6 | -12 | -2 | -14 | -75 | -89 | -32 | 10 | -22 | -35 | -57 | -35 | -92 | -22 | -30 | -52 | -41 | -93 | -58 | -151 | -22 | -51 | -73 | -2 | -75 | 61 | -14 |
| Writedowns | 0 | 0 | 0 | 0 | 0 | -5 | -5 | 0 | 0 | 0 | 0 | 0 | -13 | -13 | 0 | 0 | 0 | 0 | 0 | -2 | -2 | 0 | 0 | 0 | 0 | 0 | -2 | -2 | 0 | -2 | -2 | 0 | -2 | -111 | -113 |
| EBIT | 196 | 85 | 281 | 119 | 400 | 154 | 554 | 237 | 118 | 355 | 99 | 454 | 206 | 660 | 183 | 145 | 328 | 223 | 551 | 131 | 682 | 289 | 158 | 447 | 235 | 682 | 335 | 1,017 | 465 | 299 | 764 | 306 | 1,070 | 247 | 1,317 |
| Net Financial Charges | -18 | -21 | -39 | -21 | -60 | -21 | -81 | -13 | -16 | -29 | -16 | -45 | -27 | -72 | -15 | -17 | -32 | -25 | -57 | -33 | -90 | -36 | -33 | -69 | -34 | -103 | -36 | -139 | -32 | -29 | -61 | -34 | -95 | -27 | -122 |
| Affiliates | 0 | 1 | 1 | 0 | 1 | -1 | 0 | 1 | 2 | 3 | -1 | 2 | 0 | 2 | 0 | 2 | 2 | 0 | 2 | 0 | 2 | 2 | -1 | 1 | -1 | 0 | -1 | -1 | 1 | 1 | 2 | 0 | 2 | -1 | 1 |
| Non-recurring transactions | 0 | -3 | 0 | -3 | 3 | 0 | |||||||||||||||||||||||||||||
| Pre-tax profit | 178 | 65 | 243 | 98 | 341 | 132 | 473 | 225 | 104 | 329 | 82 | 411 | 179 | 590 | 168 | 130 | 298 | 198 | 496 | 98 | 594 | 255 | 124 | 379 | 200 | 579 | 298 | 877 | 434 | 268 | 702 | 272 | 974 | 222 | 1,196 |
| Taxes | -58 | -20 | -78 | -31 | -109 | 10 | -99 | -72 | -32 | -104 | -19 | -123 | -46 | -169 | -52 | -33 | -85 | -74 | -159 | -15 | -174 | -76 | -38 | -114 | -55 | -169 | -52 | -221 | -127 | -80 | -207 | -79 | -286 | -66 | -352 |
| Discontinued operations | 0 | -2 | -2 | 0 | -2 | -4 | -6 | 0 | 0 | 0 | 0 | 0 | -4 | -4 | 3 | 6 | 9 | 3 | 12 | -5 | 7 | 2 | 3 | 5 | 1 | 6 | -3 | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minorities | -8 | -1 | -9 | -3 | -12 | 8 | -4 | -17 | -6 | -23 | -9 | -32 | -14 | -46 | -13 | -14 | -27 | -3 | -30 | -17 | -47 | -8 | -5 | -13 | -1 | -14 | -10 | -24 | -13 | -5 | -18 | -5 | -23 | -5 | -28 |
| Other special items | 0 | 138 | 138 | 0 | 138 | -5 | 133 | 95 | 38 | 133 | 9 | 142 | -121 | 21 | 0 | 23 | 23 | 0 | 23 | 1 | 24 | 0 | 11 | 11 | 37 | 48 | 0 | 48 | |||||||
| Group Net Income | 112 | 42 | 154 | 64 | 218 | 146 | 364 | 136 | 204 | 340 | 54 | 394 | 110 | 504 | 201 | 127 | 328 | 133 | 461 | -60 | 401 | 173 | 107 | 280 | 145 | 425 | 234 | 659 | 294 | 194 | 488 | 225 | 713 | 151 | 864 |
| Group Ordinary Net income | 112 | 42 | 154 | 64 | 218 | 117 | 335 | 136 | 66 | 202 | 54 | 256 | 115 |
371 tc={A0FFD54D-2E9C-46D4-AE5E-18A42498F628}: [Commento in thread] La versione di Excel in uso consente di leggere questo commento in thread, ma tutte le modifiche a esso apportate verranno rimosse se il file viene aperto in una versione più recente di Excel. Ulteriori informazioni: https://go.microsoft.com/fwlink/?linkid=870924 Commento: Net of 133 €M related to the effects of the statutory - tax realignment of the Group's tangible and intangible assets |
106 | 89 | 195 | 124 | 319 | 61 | 380 | 173 | 84 | 257 | 145 | 402 | 233 | 635 | 294 | 183 | 477 | 188 | 665 | 151 | 816 |
| Capex | 123 | 127 | 250 | 163 | 413 | 325 | 738 | 155 | 258 | 413 | 227 | 640 | 434 | 1,074 | 186 | 277 | 463 | 339 | 802 | 438 | 1,240 | 219 | 275 | 494 | 302 | 796 | 580 | 1,376 | 220 | 333 | 553 | 345 | 898 | 614 | 1,512 |
| Net Financial Position | 3,297 | 3,433 | 3,381 | 3,472 | 3,472 | 3,745 | 3,782 | 4,113 | 4,297 | 4,587 | 4,911 | 4,258 | 4,373 | 4,372 | 4,469 | 4,683 | 4,755 | 4,019 | 4,011 | 5,835 | |||||||||||||||
| Net Equity | 3,746 | 3,582 | 3,641 | 4,116 | 4,279 | 4,179 | 4,328 | 4,303 | 4,591 | 4,495 | 4,538 | 4,467 | 4,621 | 4,443 | 4,592 | 4,802 | 5,101 | 5,726 | 5,939 | 6,003 | |||||||||||||||
| Net Capital Employed | 7,043 | 7,015 | 7,022 | 7,588 | 7,751 | 7,924 | 8,110 | 8,416 | 8,888 | 9,082 | 9,449 | 8,725 | 8,994 | 8,815 | 9,061 | 9,485 | 9,856 | 9,745 | 9,950 | 11,838 | |||||||||||||||
| Net Debt/EBITDA | 2.89 | 2.88 | 2.84 | 2.38 | |||||||||||||||||||||||||||||||
| Net Debt/Equity | 0.88 | 0.96 | 0.93 | 0.84 | 0.81 | 0.90 | 0.87 | 0.96 | 0.94 | 1.02 | 1.08 | 0.95 | 0.95 | 0.98 | 0.97 | 0.98 | 0.93 | 0.70 | 0.68 | 0.97 |
Quarterly Volumes
| Quarterly Volumes 2020-2024 | 2020 | 2021 | 2022 | 2023 | 2024 | ||||||||||||||||||||||||||||||
| Q1'20 | Q2'20 | H1'20 | Q3'20 | 9M'20 | Q4'20 | FY'20 | Q1'21 | Q2'21 | H1'21 | Q3'21 | 9M'21 | Q4'21 | FY'21 | Q1'22 | Q2'22 | H1'22 | Q3'22 | 9M'22 | Q4'22 | FY'22 | Q1'23 | Q2'23 | H1'23 | Q3'23 | 9M'23 | Q4'23 | FY'23 | Q1'24 | Q2'24 | H1'24 | Q3'24 | 9M'24 | Q4'24 | FY'24 | Back to Index |
| Generation & Trading | |||||||||||||||||||||||||||||||||||
| A2A Group Thermal Production | 2,967 | 1,915 | 4,882 | 4,274 | 9,156 | 3,078 | 12,234 | 3,459 | 2,667 | 6,126 | 3,869 | 9,995 | 4,083 | 14,078 | 3,865 | 2,612 | 6,477 | 4,904 | 11,381 | 4,255 | 15,636 | 3,596 | 1,394 | 4,990 | 2,011 | 7,001 | 2,133 | 9,134 | 1,284 | 728 | 2,012 | 2,041 | 4,053 | 2,136 | 6,189 |
| - CCGT Production (GWh) | 2,714 | 1,840 | 4,554 | 4,008 | 8,562 | 2,900 | 11,462 | 3,213 | 2,426 | 5,639 | 3,306 | 8,945 | 3,514 | 12,459 | 3,596 | 2,322 | 5,918 | 3,886 | 9,804 | 3,032 | 12,836 | 2,257 | 1,347 | 3,604 | 1,902 | 5,506 | 2,095 | 7,601 | 1,262 | 709 | 1,971 | 1,790 | 3,761 | 1,957 | 5,718 |
| - Coal Production (GWh) | 114 | 0 | 114 | 0 | 114 | 0 | 114 | 74 | 0 | 74 | 61 | 135 | 21 | 156 | 30 | 95 | 125 | 243 | 368 | 295 | 663 | 312 | 0 | 312 | -0 | 312 | 0 | 312 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| - Oil Production (GWh) | 139 | 75 | 214 | 266 | 480 | 178 | 658 | 172 | 241 | 413 | 502 | 915 | 547 | 1,462 | 239 | 195 | 434 | 775 | 1,209 | 928 | 2,137 | 1,027 | 46 | 1,073 | 110 | 1,183 | 38 | 1,221 | 22 | 18 | 40 | 252 | 292 | 179 | 471 |
| A2A Group Renewable Production | 854 | 1,125 | 1,979 | 1,374 | 3,353 | 1,184 | 4,537 | 1,057 | 1,229 | 2,286 | 1,367 | 3,653 | 891 | 4,544 | 735 | 871 | 1,606 | 938 | 2,544 | 823 | 3,367 | 728 | 1,083 | 1,811 | 1,269 | 3,080 | 1,469 | 4,549 | 1,334 | 1,840 | 3,174 | 1,704 | 4,878 | 1,154 | 6,032 |
| - Hydro Production (GWh) | 828 | 1,084 | 1,912 | 1,332 | 3,244 | 1,164 | 4,408 | 1,026 | 1,109 | 2,135 | 1,256 | 3,391 | 841 | 4,232 | 662 | 707 | 1,369 | 700 | 2,069 | 660 | 2,729 | 551 | 871 | 1,422 | 1,056 | 2,478 | 1,265 | 3,743 | 1,124 | 1,599 | 2,723 | 1,496 | 4,219 | 974 | 5,193 |
| - Photovoltaic Production (GWh) | 26 | 41 | 67 | 42 | 109 | 18 | 127 | 24 | 115 | 139 | 107 | 246 | 45 | 291 | 67 | 127 | 194 | 133 | 327 | 60 | 387 | 71 | 128 | 199 | 120 | 319 | 59 | 378 | 65 | 132 | 197 | 126 | 323 | 59 | 382 |
| - Wind Production (GWh) | 2 | 2 | 7 | 5 | 12 | 4 | 16 | 6 | 22 | 6 | 37 | 43 | 105 | 148 | 103 | 251 | 106 | 83 | 189 | 94 | 283 | 145 | 428 | 145 | 109 | 254 | 82 | 336 | 121 | 457 | |||||
| Energy Retail | |||||||||||||||||||||||||||||||||||
| Electricity sales (GWh) | 3,779 | 3,217 | 6,996 | 3,916 | 10,912 | 4,101 | 15,013 | 4,376 | 4,217 | 8,593 | 4,983 | 13,576 | 4,850 | 18,426 | 5,183 | 5,276 | 10,459 | 5,355 | 15,814 | 4,923 | 20,737 | 5,661 | 5,485 | 11,146 | 6,015 | 17,161 | 5,803 | 22,964 | 6,187 | 5,686 | 11,873 | 6,627 | 18,500 | 6,002 | 24,502 |
| Gas sales (Mcm) | 936 | 299 | 1,235 | 253 | 1,488 | 877 | 2,365 | 1,035 | 444 | 1,479 | 308 | 1,787 | 924 | 2,711 | 1,092 | 434 | 1,526 | 336 | 1,862 | 815 | 2,677 | 1,158 | 476 | 1,634 | 435 | 2,069 | 963 | 3,032 | 1,170 | 568 | 1,738 | 462 | 2,200 | 939 | 3,139 |
| Waste | |||||||||||||||||||||||||||||||||||
| Collected waste (Kton) | 403 | 398 | 801 | 414 | 1,215 | 445 | 1,660 | 453 | 475 | 928 | 449 | 1,377 | 516 | 1,893 | 447 | 472 | 919 | 425 | 1,344 | 441 | 1,785 | 439 | 456 | 895 | 436 | 1,331 | 456 | 1,787 | 449 | 476 | 925 | 437 | 1,362 | 463 | 1,825 |
| Waste disposal (Kton) - gross volumes as of 2023 | 823 | 786 | 1,609 | 844 | 2,453 | 895 | 3,348 | 876 | 878 | 1,754 | 791 | 2,545 | 878 | 3,423 | 865 | 843 | 1,708 | 810 | 2,518 | 851 | 3,368 | 1,133 | 1,123 | 2,256 | 1,113 | 3,369 | 1,196 | 4,565 | 1,258 | 1,162 | 2,420 | 1,131 | 3,551 | 1,181 | 4,732 |
| - Material Recovery | 362 | 262 | 624 | 273 | 897 | 235 | 262 | 497 | 230 | 727 | 261 | 988 | 255 | 244 | 499 | 231 | 730 | 264 | 994 | 590 | 236 | 826 | 305 | 1,131 | 603 | 263 | 866 | 275 | 1,141 | ||||||
| - Energy Recovery | 750 | 330 | 1,080 | 409 | 1,489 | 408 | 373 | 781 | 330 | 1,111 | 370 | 1,481 | 371 | 361 | 732 | 350 | 1,082 | 354 | 1,436 | 989 | 488 | 1,477 | 548 | 2,025 | 1,092 | 502 | 1,594 | 581 | 2,175 | ||||||
| - Other | 497 | 252 | 749 | 213 | 962 | 233 | 243 | 476 | 231 | 707 | 246 | 953 | 239 | 237 | 476 | 230 | 706 | 233 | 938 | 677 | 389 | 1,066 | 343 | 1,409 | 725 | 366 | 1,091 | 325 | 1,416 | ||||||
| WTE and other plants electricity production (GWh) | 479 | 476 | 955 | 521 | 1,476 | 478 | 1,954 | 489 | 568 | 1,057 | 522 | 1,579 | 503 | 2,082 | 537 | 531 | 1,068 | 538 | 1,606 | 515 | 2,121 | 502 | 503 | 1,005 | 517 | 1,522 | 549 | 2,071 | 528 | 483 | 1,011 | 559 | 1,570 | 536 | 2,106 |
| WTE and other plants heat production (GWht) | 614 | 226 | 840 | 130 | 970 | 587 | 1,557 | 650 | 270 | 920 | 126 | 1,046 | 594 | 1,640 | 664 | 255 | 919 | 109 | 1,028 | 459 | 1,487 | 660 | 215 | 875 | 128 | 1,003 | 541 | 1,544 | 695 | 227 | 922 | 136 | 1,058 | 603 | 1,661 |
| Smart Infrastructures | |||||||||||||||||||||||||||||||||||
| Electricity distributed (GWh) | 2,744 | 2,317 | 5,061 | 2,804 | 7,865 | 2,808 | 10,673 | 2,859 | 2,773 | 5,632 | 2,857 | 8,489 | 2,934 | 11,423 | 2,859 | 2,797 | 5,656 | 2,886 | 8,542 | 2,696 | 11,238 | 2,732 | 2,669 | 5,401 | 2,761 | 8,162 | 2,720 | 10,882 | 2,818 | 2,647 | 5,465 | 2,824 | 8,289 | 2,741 | 11,030 |
| Gas distributed (Mcm) | 1,278 | 340 | 1,618 | 225 | 1,843 | 1,153 | 2,996 | 1,490 | 467 | 1,957 | 264 | 2,221 | 1,227 | 3,448 | 1,381 | 351 | 1,732 | 254 | 1,986 | 740 | 2,726 | 1,128 | 312 | 1,440 | 182 | 1,622 | 881 | 2,503 | 1,144 | 333 | 1,477 | 196 | 1,673 | 940 | 2,613 |
| Water distributed (Mcm) | 19 | 17 | 36 | 21 | 57 | 20 | 77 | 19 | 17 | 36 | 21 | 57 | 19 | 76 | 18 | 18 | 36 | 20 | 56 | 19 | 75 | 17 | 15 | 32 | 20 | 52 | 17 | 69 | 16 | 16 | 32 | 17 | 49 | 17 | 66 |
| Heat volumes sales (GWht) | 1,353 | 214 | 1,567 | 130 | 1,697 | 1,139 | 2,836 | 1,484 | 339 | 1,823 | 142 | 1,965 | 1,213 | 3,178 | 1,473 | 293 | 1,766 | 139 | 1,905 | 972 | 2,877 | 1,288 | 300 | 1,588 | 235 | 1,823 | 1,065 | 2,888 | 1,371 | 329 | 1,700 | 201 | 1,901 | 1,178 | 3,079 |
| Cogeneration electricity sales (GWh) | 162 | 21 | 183 | 15 | 198 | 100 | 298 | 154 | 35 | 189 | 12 | 201 | 96 | 297 | 161 | 38 | 199 | 20 | 219 | 210 | 429 | 266 | 59 | 325 | 88 | 413 | 313 | 726 | 265 | 79 | 344 | 89 | 433 | 202 | 635 |
Cash flow
| Cash Flows | |||||
| (million euros) | 2024 | 2023 | 2022 | 2021 | 2020 |
| Opening NFP | -4,683 | -4,258 | -4,113 | -3,472 | -3,154 |
| EBITDA | 2,328 | 1,971 | 1,498 | 1,428 | 1,204 |
| Change in Net Working Capital(1) | -560 | -320 | 266 | 245 | -195 |
| Taxes and Net Financial Expenses | -412 | -418 | -276 | -245 | -203 |
| FFO | 1,356 | 1,233 | 1,488 | 1,428 | 806 |
| Capex | -1,512 | -1,376 | -1,240 | -1,074 | -738 |
| Property disposals | 221 | ||||
| FFO pre dividends payments | -156 | -143 | 469 | 354 | 68 |
| Dividends | -300 | -283 | -283 | -248 | -241 |
| Coupon Hybrid Bond | -9 | ||||
| Net Free Cash Flow | -465 | -426 | 186 | 106 | -173 |
| Change in perimeter | -1,429 | 1 | -331 | -716 | -145 |
| Hybrid Bond | 742 | ||||
| ESMA Guidelines(2) | -31 | ||||
| NFP variation | -1,152 | -425 | -145 | -641 | -318 |
| Closing NFP | -5,835 | -4,683 | -4,258 | -4,113 | -3,472 |
| (1) Change in Working Capital includes also other Assets and Liabilities and Use of Funds | |||||
| (2) In accordance with ESMA guidelines related of Statement of indebtedness disclosure, "non-current trade and other payables include non-remunerated debt for which there is a significant financing component, either implicitly or explicitly, for example debt to suppliers beyond a period of 12 months" |
Income Statement
| Back to Index | |||||
| Consolidated Income Statement | |||||
| (million euros) | 2024 | 2023 | 2022 | 2021 | 2020 |
| Sales revenues | 12,570 | 14,492 | 22,938 | 11,352 | 6,655 |
| Other operating income | 287 | 266 | 218 | 197 | 193 |
| Total revenues | 12,857 | 14,758 | 23,156 | 11,549 | 6,848 |
| Operating costs | -9,637 | -11,972 | -20,893 | -9,400 | -4,945 |
| Labour costs | -892 | -815 | -765 | -721 | -703 |
| Gross profit from operations (EBITDA) | 2,328 | 1,971 | 1,498 | 1,428 | 1,200 |
| 1- Generation and trading | 986 | 829 | 554 | 368 | 269 |
| 2- Market | 462 | 299 | 125 | 214 | 202 |
| - Energy Retail | 460 | 297 | 124 | 215 | 202 |
| - Energy Solutions | 2 | 2 | 1 | -1 | 0 |
| 3- Waste | 409 | 375 | 359 | 341 | 282 |
| - Collection | 64 | 64 | 54 | 72 | 60 |
| - Industrial treatment | 44 | 42 | 43 | 43 | 36 |
| - Urban treatment | 301 | 269 | 262 | 226 | 186 |
| 4- Smart Infrastructures | 552 | 534 | 512 | 538 | 471 |
| − Electricity distribution | 165 | 156 | 137 | 149 | 137 |
| − Gas distribution | 181 | 162 | 145 | 185 | 158 |
| − Water | 73 | 67 | 61 | 76 | 61 |
| − Public lighting | 100 | 21 | 26 | 18 | 19 |
| − Cogeneration & District Heating | 23 | 121 | 135 | 108 | 86 |
| − Smart city | 11 | 9 | 10 | 2 | 10 |
| − E-Moving | -1 | -2 | -2 | ||
| 5- Corporate | -81 | -66 | -52 | -33 | -24 |
| - D&A | -884 | -801 | -722 | -666 | -547 |
| - Provisions | -14 | -151 | -92 | -89 | -94 |
| - Asset writedowns | -113 | -2 | -2 | -13 | -5 |
| Net operating income (EBIT) | 1,317 | 1,017 | 682 | 660 | 554 |
| Result from non-recurring transactions | 5 | 2 | 157 | 0 | 0 |
| Net financial charges | -112 | -140 | -90 | -72 | -81 |
| Affiliates | 2 | 0 | 2 | 2 | 0 |
| Result from disposal of other shareholdings (AFS) | 0 | -1 | 0 | 0 | |
| Income before taxes | 1,211 | 878 | 751 | 590 | 473 |
| Income taxes | -319 | -199 |
-344 tc={4574FA28-2EB5-4396-9171-A09DEE6CC177}: [Commento in thread] La versione di Excel in uso consente di leggere questo commento in thread, ma tutte le modifiche a esso apportate verranno rimosse se il file viene aperto in una versione più recente di Excel. Ulteriori informazioni: https://go.microsoft.com/fwlink/?linkid=870924 Commento: -174 €M ordinary taxes -122 €M government measures -48 €M tax on capital gain |
-36 | -99 |
| Profit (Loss) from continuing operations net of taxes | 892 | 679 | 407 | 554 | 374 |
| Net result from non-current assets sold or held for sale | 63 | ||||
| Net result from discontinued operations | 3 | 41 | -4 | -6 | |
| Net profit | 892 | 682 | 448 | 550 | 368 |
| Minorities | -28 | -24 | -47 | -46 | -4 |
| Group net profit for the year | 864 | 658 | 401 | 504 | 364 |
| Group net profit adjusted for the impact of extraordinary items | 816 | 635 | 380 | 371 | 335 |
CE & sources of financing
| Capital Employed and Sources of Financing | Back to Index | ||||
| (million euros) | 2024 | 2023 | 2022 | 2021 | 2020 |
| Net fixed capital | 11,330 | 9,567 | 8,849 | 8,026 | 7,067 |
| Tangible assets | 7,517 | 6,643 | 6,162 | 5,588 | 5,162 |
| Intangible assets | 4,299 | 3,630 | 3,515 | 3,125 | 2,737 |
| Shareholdings and other non-current financial assets (1) | 100 | 83 | 82 | 73 | 32 |
| Other non-current assets/liabilities (1) | -67 | -188 | -296 | -93 | -99 |
| Deferred tax liabilities | 549 | 464 | 363 | 424 | 265 |
| Provisions for risks, charges and liabilities for landfills | -854 | -828 | -729 | -797 | -752 |
| Employee benefits | -214 | -237 | -248 | -294 | -278 |
| - of which with contra-entry in equity | -79 | -98 | -112 | -134 | -94 |
| Net Working Capital | 277 | -246 | -308 | 601 | 617 |
| Inventories | 316 | 319 | 536 | 204 | 139 |
| Trade receivables | 3,643 | 3,540 | 4,680 | 3,291 | 2,030 |
| Trade payables | -3,682 | -4,105 | -5,524 | -2,894 | -1,552 |
| Other current assets and liabilities | -163 | 164 | 184 | -358 | -110 |
| Other current assets and liabilities | -88 | 193 | 283 | -405 | -181 |
| Current tax assets/tax liabilities | -75 | -29 | -99 | 47 | 71 |
| - of which with contra-entry in equity | -16 | -7 | 27 | 46 | 7 |
| Assets/liabilities available for sale (1) | 394 | 0 | 0 | 147 | 14 |
| - of which with contra-entry in equity | 0 | 0 | 0 | 0 | 0 |
| TOTAL CAPITAL EMPLOYED | 11,838 | 9,485 | 8,725 | 8,416 | 7,588 |
| SOURCES OF FUNDS | |||||
| Equity(2) | 6,003 | 4,802 | 4,467 | 4,303 | 4,116 |
| Total financial position beyond one year | 6,454 | 5,571 | 5,834 | 4,309 | 3,907 |
| Total financial position within one year | -619 | -888 | -1,576 | -196 | -435 |
| Total net financial position | 5,835 | 4,683 | 4,258 | 4,113 | 3,472 |
| - of which with contra-entry in equity | 4 | -10 | 20 | 31 | |
| TOTAL SOURCES | 11,838 | 9,485 | 8,725 | 8,416 | 7,588 |
| (1) Net of balances included in net financial position | |||||
| (2) Including 742 €M of green hybrid bond issuance starting from 2024 |
Balance Sheet
| Consolidated Balance Sheet | Back to Index | ||||||||
| Assets | Relevant shareholdings (31/12/24) | ||||||||
| (million euros) | 2024 | 2023 | 2022 | 2021 | 2020 | Stake (%) | Book value (€M) | Scope of consolidation | |
| ASSETS | Acinque | 41.3 | 190.4 | Fully consolidated | |||||
| NON-CURRENT ASSETS | AEB | 33.5 | 158.6 | Fully consolidated | |||||
| Tangible assets | 7,517 | 6,643 | 6,162 | 5,588 | 5,162 | Retragas | 91.6 | 30.1 | Fully consolidated |
| Intangible assets | 4,299 | 3,630 | 3,515 | 3,125 | 2,737 | ASVT | 74.6 | 10.8 | Fully consolidated |
| Shareholdings carried according to equity method | 25 | 30 | 33 | 33 | 17 | ||||
| Other non-current financial assets | 88 | 67 | 70 | 64 | 36 | ||||
| Deferred tax assets | 549 | 464 | 363 | 424 | 265 | ||||
| Other non-current assets | 130 | 138 | 86 | 25 | 28 | ||||
| Total non-current assets | 12,608 | 10,972 | 10,229 | 9,259 | 8,245 | ||||
| CURRENT ASSETS | |||||||||
| Inventories | 316 | 319 | 536 | 204 | 139 | ||||
| Trade receivables | 3,643 | 3,540 | 4,680 | 3,291 | 2,030 | ||||
| Other current assets | 1,296 | 2,264 | 3,289 | 4,051 | 685 | ||||
| Current financial assets | 32 | 33 | 14 | 9 | 11 | ||||
| Current taxes assets | 45 | 41 | 35 | 68 | 76 | ||||
| Cash and cash equivalents | 1,549 | 1,629 | 2,584 | 964 | 1,012 | ||||
| Total current assets | 6,881 | 7,826 | 11,138 | 8,587 | 3,953 | ||||
| Non-current assets held for sale | 405 | 162 | 28 | ||||||
| TOTAL ASSETS | 19,894 | 18,798 | 21,367 | 18,008 | 12,226 | ||||
| Equity and Liabilities | |||||||||
| (million euros) | 2024 | 2023 | 2022 | 2021 | 2020 | ||||
| EQUITY AND LIABILITIES | |||||||||
| EQUITY | |||||||||
| Share capital | 1,629 | 1,629 | 1,629 | 1,629 | 1,629 | ||||
| Treasury shares | 0 | -54 | |||||||
| Reserves(1) | 2,952 | 1,952 | 1,869 | 1,627 | 1,598 | ||||
| Net profit for the year | 864 | 659 | 401 | 504 | 364 | ||||
| Equity pertaining to the Group(1) | 5,445 | 4,240 | 3,899 | 3,760 | 3,537 | ||||
| Minority interests | 558 | 562 | 568 | 543 | 579 | ||||
| Total equity | 6,003 | 4,802 | 4,467 | 4,303 | 4,116 | ||||
| LIABILITIES | |||||||||
| NON-CURRENT LIABILITIES | |||||||||
| Non-current financial liabilities | 6,317 | 5,576 | 5,867 | 4,322 | 3,909 | ||||
| Deferred tax liabilities | |||||||||
| Employee benefits | 214 | 237 | 248 | 294 | 278 | ||||
| Provisions for risks, charges and liabilities for landfills | 854 | 828 | 729 | 797 | 752 | ||||
| Other non-current liabilities | 347 | 335 | 370 | 129 | 146 | ||||
| Total non-current liabilities | 7,732 | 6,976 | 7,214 | 5,542 | 5,085 | ||||
| CURRENT LIABILITIES | |||||||||
| Trade payables | 3,682 | 4,105 | 5,524 | 2,894 | 1,552 | ||||
| Other current liabilities | 1,391 | 2,070 | 3,006 | 4,487 | 866 | ||||
| Current financial liabilities | 955 | 775 | 1,022 | 746 | 588 | ||||
| Tax liabilities | 120 | 70 | 134 | 21 | 5 | ||||
| Total current liabilities | 6,148 | 7,020 | 9,686 | 8,148 | 3,011 | ||||
| Total liabilities | 13,880 | 13,996 | 16,900 | 13,690 | 8,096 | ||||
| Liabilities associated to non-current assets held for sale | 11 | 15 | 14 | ||||||
| TOTAL EQUITY AND LIABILITIES | 19,894 | 18,798 | 21,367 | 18,008 | 12,226 | ||||
| (1) Including 742 €M of green hybrid bond issuance starting from 2024 |
Hist.Energy scenario
| Back to Index | |||||||||||||||||||
| Offer and demand | |||||||||||||||||||
| 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | Source | ||
| Gross domestic installed capacity | MW | n.a. | 130,141 | 123,342 | 119,781 | 119,109 | 119,299 | 118,117 | 117,144 | 117,081 | 120,032 | 125,519 | 128,403 | 128,134 | 122,302 | 110,290 | 105,186 | 102,339 | https://www.terna.it/it/sistema-elettrico/statistiche/pubblicazioni-statistiche |
| Italian electricity demand | GWh | 312,285 | 306,090 | 315,008 | 319,919 | 301,180 | 319,622 | 321,431 | 320,548 | 314,261 | 315,234 | 310,535 | 318,475 | 328,220 | 334,640 | 330,455 | 320,268 | 339,481 | https://www.terna.it/en/electric-system/publications/monthly-report |
| Total net production | GWh | 263,500 | 257,023 | 276,373 | 280,045 | 271,648 | 283,846 | 279,845 | 285,265 | 277,235 | 270,703 | 269,148 | 278,832 | 287,806 | 291,446 | 290,748 | 281,107 | 307,065 | |
| of which: | |||||||||||||||||||
| - Thermoelectric | GWh | 146,452 | 157,934 | 191,276 | 182,234 | 173,888 | 187,317 | 184,338 | 200,305 | 190,771 | 180,871 | 167,080 | 183,404 | 207,329 | 218,486 | 220,984 | 216,087 | 250,149 | |
| - Hydroelectric | GWh | 52,076 | 38,244 | 28,094 | 44,878 | 48,952 | 47,590 | 49,928 | 37,557 | 43,785 | 44,751 | 59,575 | 54,068 | 43,260 | 47,202 | 53,795 | 52,843 | 46,673 | |
| - Wind | GWh | 22,068 | 23,374 | 20,304 | 20,724 | 18,609 | 20,034 | 17,557 | 17,565 | 17,523 | 14,589 | 15,089 | 14,812 | 13,333 | 9,775 | 9,048 | 6,485 | 4,852 | |
| - Solar | GWh | 36,064 | 30,595 | 27,674 | 24,633 | 24,552 | 23,320 | 22,266 | 24,017 | 21,757 | 24,676 | 21,838 | 21,229 | 18,633 | 10,668 | 1,874 | 676 | 193 | |
| Net import | GWh | 50,999 | 51,252 | 42,987 | 42,790 | 32,200 | 38,141 | 43,899 | 37,761 | 43,181 | 50,848 | 46,747 | 42,138 | 43,103 | 45,733 | 44,160 | 44,959 | 40,034 | |
| Maximum load | GW | 57.51 | 58.53 | 57.78 | 56.07 | 55.43 | 59.76 | 57.60 | 56.58 | 53.57 | 52.36 | 51.55 | 53.94 | 53.05 | 56.47 | 56.43 | 51.16 | 53.19 | https://dati.terna.it/en/load#peak-valley-load |
| GAS supply | bcm | 62.0 | 63.8 | 72.6 | 77.2 | 70.9 | 74.0 | 72.4 | 74.8 | 70.4 | 66.9 | 61.4 | 69.5 | 74.3 | 77.4 | 82.7 | 77.7 | 84.5 | https://www.snam.it/content/dam/snam/pages-attachments-search/en/documenti/bilanci-annuali/2023/annual_report_2023.pdf |
| of which: | |||||||||||||||||||
| - National production | bcm | 2.8 | 2.8 | 3.1 | 3.1 | 3.9 | 4.5 | 5.1 | 5.2 | 5.6 | 6.4 | 6.9 | 7.5 | 8.2 | 8.0 | 8.1 | 8.2 | 9.1 | |
| - Imports (pipeline & LNG) | bcm | 59.1 | 61.3 | 72.3 | 72.7 | 66.1 | 70.9 | 67.7 | 69.4 | 65.1 | 60.8 | 55.4 | 61.5 | 67.6 | 70.3 | 75.2 | 68.7 | 76.5 | |
| Gas demand | bcm | 62.0 | 61.7 | 68.7 | 76.4 | 71.3 | 74.5 | 72.7 | 75.2 | 70.9 | 67.5 | 61.9 | 70.1 | 74.9 | 77.9 | 83.1 | 78.0 | 84.9 | |
| of which: | |||||||||||||||||||
| - Residential & commercial | bcm | 23.6 | 22.9 | 25.2 | 29.8 | 27.5 | 28.1 | 28.8 | 29.5 | 28.9 | 29.0 | 25.7 | 31.1 | 31.0 | 30.8 | 33.9 | 31.6 | 30.2 | |
| - Thermoelectric | bcm | 25.7 | 26.1 | 30.2 | 31.1 | 25.2 | 26.7 | 24.2 | 25.4 | 23.4 | 20.6 | 17.9 | 20.6 | 25.3 | 28.2 | 30.1 | 29.0 | 33.9 | |
| - Industrial | bcm | 11.1 | 11.0 | 11.6 | 13.5 | 16.4 | 17.3 | 17.4 | 17.8 | 16.6 | 16.0 | 16.3 | 16.5 | 16.6 | 17.0 | 17.4 | 16.1 | 19.3 | |
| Domestic Gas market - PSV(1) | bcm | n.a. | 154.9 | 143.1 | 140.3 | 130.7 | 122.5 | 105.4 | 101.2 | 96.1 | 90.0 | 78.6 | 86.0 | 61.9 | 69.8 | 56.9 | 41.8 | 18.6 | https://jarvis.snam.it/public-data?pubblicazione=Consuntivo%20scambi%2Fcessioni%20di%20gas%20al%20punto%20di%20scambio%20virtuale%20(PSV)&periodo=2024%2F2025〈=it |
| Prices and margins | |||||||||||||||||||
| 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | |||
| Brent | $/bbl | 80 | 82 | 99 | 71 | 43 | 64 | 72 | 55 | 45 | 54 | 100 | 109 | 112 | 111 | 80 | 63 | 98 | |
| €/$ | €/$ | 1.1 | 1.1 | 1.1 | 1.2 | 1.1 | 1.1 | 1.2 | 1.1 | 1.1 | 1.1 | 1.3 | 1.3 | 1.3 | 1.4 | 1.3 | 1.4 | 1.5 | |
| Brent € | €/bbl | 74 | 76 | 94 | 60 | 38 | 57 | 61 | 49 | 41 | 48 | 75 | 82 | 87 | 80 | 61 | 45 | 66 | |
| PSV | c€/cm | 36 | 42 | 122 | 46 | 10 | 16 | 24 | 20 | 16 | 22 | 23 | 30 | 30 | 30 | 24 | 21 | n.a. | |
| Pfor (gas price for protected market) | c€/cm | 39 | 45 | 132 | 27 | 12 | 19 | 22 | 18 | 16 | 23 | 26 | 34 | 36 | 29 | 24 | 25 | 29 | |
| Coal € | €/Tonn | 104 | 119 | 277 | 102 | 44 | 54 | 78 | 75 | 54 | 51 | 57 | 62 | 72 | 87 | 70 | 51 | 99 | |
| PUN(2) baseload | €/MWh | 108 | 127 | 303 | 125 | 39 | 52 | 61 | 54 | 43 | 52 | 52 | 63 | 75 | 72 | 64 | 64 | 87 | |
| PUN peakload | €/MWh | 116 | 137 | 334 | 140 | 45 | 58 | 68 | 62 | 48 | 59 | 59 | 70 | 85 | 82 | 76 | 82 | 113 | |
| PUN off-peak | €/MWh | 104 | 122 | 286 | 117 | 36 | 49 | 58 | 50 | 40 | 49 | 48 | 59 | 70 | 67 | 57 | 53 | 72 | |
| CCGT gas cost(3) | €/MWh | 88 | 100 | 269 | 103 | 28 | 39 | 57 | 46 | 38 | 50 | 51 | 63 | 64 | 61 | 55 | 52 | 67 | |
| CO2 - average system cost | €/Tonn | 66 | 85 | 81 | 53 | 25 | 25 | 16 | 6 | 5 | 8 | 6 | 5 | 7 | 13 | 14 | 13 | 22 | |
| Feed-in tariff(4) | €/MWh | 41 | 0 | 41 | 108 | 97 | 91 | 97 | 109 | 99 | 98 | 94 | 83 | 75 | 81 | 84 | 85 | 85 | |
| Spark spread CCGT vs PUN baseload | €/MWh | 21 | 27 | 34 | 22 | 11 | 13 | 5 | 7 | 5 | 2 | 1 | -0 | 12 | 11 | 9 | 12 | 20 | |
| Spark spread CCGT vs PUN peak | €/MWh | 28 | 37 | 65 | 37 | 17 | 19 | 11 | 15 | 11 | 9 | 7 | 7 | 21 | 21 | 21 | 30 | 45 | |
| Spark spread CCGT vs PUN off-peak | €/MWh | 17 | 21 | 18 | 14 | 8 | 10 | 1 | 3 | 2 | -1 | -3 | -4 | 6 | 5 | 3 | 2 | 5 | |
| CCGT environmental costs (CO2+GC until 2015) | €/MWh | 26 | 34 | 32 | 21 | 10 | 10 | 6 | 2 | 2 | 3 | 5 | 6 | 4 | 5 | 5 | 3 | 3 | |
| Clean spark spread(5) CCGT vs Baseload | €/MWh | -6 | -7 | 2 | 1 | 1 | 3 | -1 | 5 | 3 | -0 | -4 | -6 | 7 | 6 | 5 | 9 | 16 | |
| Clean spark spread(5) CCGT vs Peakload | €/MWh | 2 | 3 | 32 | 15 | 7 | 9 | 5 | 13 | 8 | 6 | 3 | 1 | 17 | 16 | 17 | 27 | 42 | |
| Clean dark spread vs Baseload | €/MWh | -21 | -36 | 97 | 19 | -14 | -2 | 7 | 11 | 7 | 16 | 13 | 22 | 36 | 33 | 43 | n.a. | n.a. | |
| (1) The yearly figures refer to the thermal year | |||||||||||||||||||
| (2) Italian National Price of the electricity | |||||||||||||||||||
| (3) CCGT Gas Cost based on: EniMix formula for 2008-2009 with 54.7% efficiency (2008 gas cost: 35.34 c€/mc; 2009 gas cost: 27.23 c€/mc), GasRelease2007 formula for 2010-2011 with 54.7% efficiency (2010 gas cost: 28.69 c€/mc; 2011 gas cost: 32.06 c€/mc), gas at virtual trading point (PSV) for 2012-2024 with 51% efficiency (previously 53%). The figures include transport costs. | |||||||||||||||||||
| (4) Green Certificates - average system cost until 2015 | |||||||||||||||||||
| (5) Spark spread net of environmental costs (CO2 + GC until 2015) | |||||||||||||||||||
| Note: the electricity installed capacity figures refer to a gross capacity | |||||||||||||||||||
| Sources: Terna, Snam and ISTAT |
Attachments
Disclaimer
A2A S.p.A. published this content on May 07, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 07, 2025 at 17:24 UTC.
