31/08/2021 - A2A S.p.A.: Half-yearly financial report June 30, 2021

Corporate boards

5

1

Key Figures of the A2A Group

1.1

Business Units

8

1.2

Geographical areas of activity

10

1.3

Group structure

12

1.4

Financial highlights at June 30, 2021

13

1.5

Shareholdings

16

1.6

A2A S.p.A. on the Stock Exchange

17

1.7

Alternative Performance Indicators (APM)

19

2

Responsible sustainability management and sustainable finance

2.1

Responsible sustainability management and sustainable finance

24

3

Consolidated results and report on operations

3.1

Summary of results, assets and liabilities and financial position

28

3.2

Significant events during the period

37

3.3

Significant events after June 30, 2021

43

3.4

Outlook for operations

44

4

Consolidated financial statements

4.1

Consolidated balance sheet

46

4.2

Consolidated income statement

48

4.3

Consolidated statement of comprehensive income

49

4.4

Consolidated cash-flow statement

50

4.5

Statement of changes in Group equity

52

of the first consolidation of the 2021 acquisitions

54

4.7

Breakdown of the economic effect of the consolidation of new acquisitions 2021

56

4.8

Consolidated balance sheet pursuant

to Consob Resolution no. 17221 of March 12, 2010

58

to Consob Resolution no. 17221 of March 12, 2010

60

5

Notes to the Half-yearly financial report

5.1

General information

62

5.2

Half-yearly financial report

63

5.3

Financial statements

64

5.4

Basis of preparation

65

5.5

Changes in international accounting standards

66

5.6

Scope of consolidation

67

5.7

Consolidation policies and procedures

68

5.8

Seasonal nature of the business

73

5.9

Summary of results sector by sector

74

5.10

Notes to the balance sheet

78

5.11

Net debt

99

5.12

Notes to the income statement

101

5.13

Earnings per share

109

5.14

Note on related party transactions

110

5.15

Consob Communication no. DEM/6064293 of July 28, 2006

113

5.16

Guarantees and commitments with third parties

115

5.17

Other information

116

6

Attachments to the notes to the Half-yearly financial report

6.1

1. Statement of changes in tangible assets

144

6.2

2. Statement of changes in intangible assets

146

6.3

3.

List of companies included in the consolidated financial statements

148

6.4

4.

List of shareholdings in companies carried at equity

156

6.5

5.

List of holdings in other companies

159

7.1

Generation and Trading Business Unit

162

7.2

Market Business Unit

167

7.3

Waste Business Unit

172

7.4

Networks Business Unit

176

8

Scenario and Market

8.1

Macroeconomic scenario

192

8.2

Energy market trends

195

9

Result sector by sector

9.1

Result sector by sector

198

9.2

Generation and Trading Business Unit

200

9.3

Market Business Unit

203

9.4

Waste Business Unit

206

9.5

Networks Business Unit

209

9.6

Corporate

213

10

Risks and uncertainties

10.1

Risks and uncertainties

216

11

Certification of the condensed half-yearly financial statements

pursuant to art. 154-bis, paragraph 5 of Legislative Decree no. 58/98

226

12

Independent Auditor's Report

228