Acea S.p.a. · MIL:ACE
Acea — Italian Infrastructure & Energy Day 2023
63 slides from Acea's conference presentation, Sep 7, 2023
Slide 1: ACEA Group Presentation: Italian Infrastructure & Energy Day
ACEA Group Presentation ‘‘Italian Infrastructure & Energy Day’’ Borsa Italiana Euronext Group Milan September 7th, 2023
Slide 2: Strategic Guidelines
STRATEGIC GUIDELINES H1 2023 RESULTS ANNEX H1 2023 ANNEX 1
Slide 3: Strategic Guidelines
STRATEGIC GUIDELINES H1 2023 RESULTS ANNEX H1 2023 ANNEX 2
Slide 4: ACEA Group: infrastructure operator with a strong presence in regulated sectors
ACEA Group: infrastructure operator with a strong presence in regulated sectors1 #1 #2 #4 by customer by customer by waste Water base Electricity base Environment managed Italy: Power grids: Waste management: • ~9m customers • ~1.7m PODs2 for 32,000 km • ~1.7m tonnes waste managed • ~59,000 km netwo
Slide 5: Highly challenging outlook for the sector in the coming years
Highly challenging outlook for the sector in the coming years Water1 Electricity2 Environment3 Importance of protecting water Energy transition Circular economy drive resources ~18% of GDP directly/indirectly linked to 60-65 GW growth in renewables by 2030, +10 pp of plastic waste recyclable the ava
Slide 6: ACEA vision: infrastructure growth to support the country, enabled by people
ACEA vision: infrastructure growth to support the country, enabled by people High level of service for the National in the integrated water community cycle (internationally scalable) Leader in (customers, citizens, towns, Local in power grids (Rome) regulated sectors provinces, regions) Regi
Slide 7: Water: strategic pillars
Water: strategic pillars Strengthening the Infrastructure development (e.g., Consolidating the Italian doubling the Peschiera aqueduct), presence in municipal market, positioning the geographical expansion, new water supply systems technologies (smart meters), incentives Group as a Water market in I
Slide 8: Electricity: Strategic pillars
Electricity: Strategic pillars Focus on electricity grids Boosting the grid’s resilience and Guaranteeing a resilient in Rome digitalisation, improving service quality, incentivising distributed flexibility and grid and protecting local dispatching and offering smart city quality of service in the s
Slide 9: Environment: Strategic pillars
Environment: Strategic pillars Consolidating / Consolidation in central Optimising our existing industrial Italy footprint, through geographical expanding our expansion in synergy with other leadership in central businesses Italy throughout the waste management chain Revamping and developing new lin
Slide 10: ACEA commitment to ESG
ACEA commitment to ESG E Confirmation of our SBTi targets for cutting CO2 emissions Strengthening the waste recycling chain Reducing water leakage S Commitment to gender equality Boosting youth employment Boosting personnel development and training opportunities G ESG criteria fully embedded in Risk
Slide 11: H1 2023 Results
STRATEGIC GUIDELINES H1 2023 RESULTS ANNEX H1 2023 ANNEX 10
Slide 12: H1 2023 highlights
H1 2023 highlights G RO W T H I N R E G U L AT E D B U S I N E S S E S A N D O P E R AT I O N A L D I S C I P L I N E REVENUE Group revenue of €2.3bn, including approximately €1.2bn from Water, Energy Infrastructure Water, Energy Infrastructure and Environment and Environment sectors (+5% vs H1 2022
Slide 13: Overview of H1 2023 results
Overview of H1 2023 results G RO W T H A N D D E L I V E RY O F I N V E S T M E N T P L A N C O N T I N U E EBITDA (€m) CAPEX (€m) Non recurring items and change in scope Grant-funded Organic EBITDA growth despite lower REVENUE 2,348 2,296 +18 +41 revenue thanks to organic growth of 682 670 (+2.9%)
Slide 14: EBITDA H1 2023
EBITDA H1 2023 O RG A N I C G ROW T H + 3 % EBITDA (€m) 670 55 2 42 31 353 186 WATER ENERGY ENVIRONMENT GENERATION COMMERCIAL OTHER BUSINESSES EBITDA H1 2023 INFRASTRUCTURE & TRADING & HOLDCO 53% 28% 6% 5% 8% 87%* +3% 682 644 30 663 7 670 (26) (12) (11) EBITDA H1 2022 Bonus for technical Sale of CO2
Slide 15: Net Profit H1 2023
Net Profit H1 2023 O P E R AT I O N A L P E R F O R M A N C E O U T W E I G H S I N C R E A S E I N D E P R E C I AT I O N A N D F I N A N C E C O S T S NET PROFIT (€m) Efficiency improvements and growth of regulated businesses outweigh increase in Non recurring items and change in scope depreciatio
Slide 16: CAPEX H1 2023
CAPEX H1 2023 C A P E X I N L I N E W I T H AV E R A G E F O R H 1 A N D H 2 2 0 2 2 W I T H F O C U S O N R E G U L AT E D B U S I N E S S E S CAPEX (€m) 503 * 25 24 14 293 18 129 WATER ENERGY ENVIRONMENT GENERATION COMMERCIAL & TRADING OTHER BUSINESSES CAPEX H1 2023 INFRASTRUCTURE & HOLDCO 58% 26%
Slide 17: Cash Flow H1 2023
Cash Flow H1 2023 I N C R E A S E I N C A S H I N F L O W T H A N K S TO E B I T D A G RO W T H A N D W O R K I N G C A P I TA L M A N A G E M E N T CASH FLOW (€m) H1 2023 Free cash flow of €103m up €65m versus H1 2022 thanks to efficiency 670 improvements and working capital management. -64 Increas
Slide 18: Financial structure H1 2023
Financial structure H1 2023 L E V E R A G E G U I D A N C E F U L LY C O N F I R M E D CONS H1 CONS H1 LEVERAGE CONS CONS N E T D E B T / E B I T D A LT M NET D EB T/EB I TDA (€m) DEC 2022 2023 vs 2023 vs H1 2023 H1 2022 DEC 2022 H1 2022 30 JUNE 2023 31 DECEMBER 2022 NET DEBT 4,798 4,440 4,212 359 5
Slide 19: Water: EBITDA organic growth +6%, capex +17%
Water^: EBITDA organic growth +6%, capex +17% VA L U E C R E AT I O N T H RO U G H I N V E S T M E N T S REVENUE +7% EBITDA ORGANIC GROWTH* +6% (€m) MAIN DRIVERS Non recurring items and change in scope (€m) +6% 664 716 26 34 354 328 20 348 5 353 638 682 (26) H1 2022 H1 2023 EBITDA BONUS FOR EBITDA H
Slide 20: Energy infrastructure: EBITDA growth +3%
Energy infrastructure: EBITDA growth +3% D E L I V E RY O F I N V E S T M E N T P L A N C O N T I N U E S REVENUE +3% EBITDA +3% (€m) MAIN DRIVERS (€m) +3% 2G ELECTRICITY METERS 304 314 Installed at 30 June 2023 181 5 186 ~ 804k H1 2022 H1 2023 EBITDA ORGANIC EBITDA H1 2022 GROWTH H1 2023 CAPEX -5%
Slide 21: Environment: increase in waste treated +8%
Environment: increase in waste treated +8% O N G O I N G I N T E G R AT I O N O F P L A N T S A C Q U I R E D I N 2 0 2 2 REVENUE -4% EBITDA -27% (€m) MAIN DRIVERS (€m) One-offs and change in scope 172 167 -26% 11 13 58 47 35 7 42 161 154 (11) (12) EBITDA SALE OF CO2 EBITDA H1 2022 ENERGY SCENARIO E
Slide 22: Generation: increase in electricity production +11%
Generation: increase in electricity production +11% O V E R 2 0 0 M W O F R E A D Y- T O - B U I L D P H O T O V O LTA I C P L A N T S REVENUE -13% EBITDA -41% (€m) MAIN DRIVERS Non recurring items and change in scope (€m) -31% 91 74 52 36 31 5 91 79 (21) (5) EBITDA ENERGY SCENARIO ORGANIC GROWTH EB
Slide 23: Commercial & Trading: EBITDA growth +45%
Commercial & Trading: EBITDA growth +45% F R E E M A R K E T C U S TO M E R B A S E I N C R E A S I N G REVENUE -8% EBITDA +45% FREE MKT EN. PROT. MKT (€m) MAIN DRIVERS (€m) 1.341 1.232 +45% 38 12 5 55 EBITDA ENERGY SCENARIO ORGANIC GROWTH H1 2023 H1 2022 H1 2023 H1 2022 TOTAL ELECTRICITY NUMBER OF
Slide 24: Annex H1 2023
STRATEGIC GUIDELINES H1 2023 RESULTS ANNEX H1 2023 ANNEX 23
Slide 25: Key events in H1 2023
Key events in H1 2023 DECO Combination with ASM Terni Partnership with Acquedotto Pugliese January 2023 April 2023 June 2023 Completion of the acquisition of the Closing of the second phase of Signature of a Memorandum for the remaining 35% of DECO (waste the business combination development of join
Slide 26: Sustainable growth pathway
Sustainable growth pathway M A J O R P RO GR E S S I N E S G FSE Top Utility for Top Employers Italia 2023 Research and Innovation Standard Ethics January 2023 March 2023 July 2023 Acea obtains «Top Employers Italia Winner of the award as «RSE Top Standard Ethics upgrades 2023» certification. Utilit
Slide 27: Sustainability ratings
Sustainability ratings 62/100 «EE+» «B» «A» Positive outlook Management Level 81.58/100 «Leader ESG ESG risk Identity» Rating 20.1 26
Slide 28: Disclaimer
DISCLAIMER THIS PRESENTATION CONTAINS CERTAIN FORWARD-LOOKING STATEMENTS THAT REFLECT THE COMPANY’S MANAGEMENT’S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND FINANCIAL AND OPERATIONAL PERFORMANCE OF THE COMPANY AND ITS SUBSIDIARIES. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON ACEA S.P.A.’S CURR
Slide 29: Annex: Regulation
STRATEGIC GUIDELINES H1 2023 RESULTS ANNEX H1 2023 ANNEX REGULATION Q1 2023 RESULTS 2022 RESULTS 28
Slide 30: Annex: Regulation
STRATEGIC GUIDELINES H1 2023 RESULTS ANNEX H1 2023 ANNEX REGULATION Q1 2023 RESULTS 2022 RESULTS 29
Slide 31: Water: Regulation
Water R E G U L AT I O N TARIFF REGIME FOR THE THIRD REGULATORY PERIOD (2020-2023) ARERA Resolution 639/2021 – 2022/2023 period EXPIRY OF CONCESSIONS ATO2 Lazio Centrale (Acea ATO2) 2032 ➢ WACC: 4.8% (previously 5.2%) ATO5 Frosinone (Acea ATO5) 2033 ➢ Real risk-free rate cut from 0.5% to 0.13%. ATO3
Slide 32: Energy infrastructure: Regulation
Energy infrastructure R E G U L AT I O N : E L E C T R I C I T Y D I S T R I B U T I O N ARERA Resolution 614/2021 – «Rate of return on invested capital for ELECTRICITY DISTRIBUTION infrastructure services in the electricity and gas sectors for the period 2022- WACC REGULATORY PERIOD: SIX YEARS 2022
Slide 33: Environment: Regulation
Environment R E G U L AT I O N ARERA RESOLUTION 363/2021 (MTR-2) – REGULATORY PERIOD 2022-2025 ▪ The earlier method has been confirmed for the regulatory period 2022-2025, after a number of changes designed to encourage its application, promote economic and environmental efficiency targets and limit
Slide 34: Environment: Regulation update on MTR-2
Environment R E G U L AT I O N UPDATE ON MTR-2 AND OTHER DEVELOPMENTS • ARERA has published resolution 389/2023/R/rif, containing the Two-yearly update (2024-2025) of the waste tariff regime (MTR-2), which follows DCO 275/2023/R/rif. A summary of the resolution is provided below, showing aspects of
Slide 35: Environment: Regulation
Environment R E G U L AT I O N San Vittore del Lazio Lines 2 and 3 entered service in April 2011 and July 2011, respectively. Lines 2 and 3 These currently qualify for an incentive associated with capacity above 23.2 MW; it is supported by the Incentive (GRIN, ex- GC system) regulated by art. 19 of
Slide 36: Environment: Regulation incentives
Environment R E G U L AT I O N Incentives applicable to Acea’s plants Type of plant MD 6 July 2012 MD 23 June 2016 Biogas plant between 0.6 and 1 MW €178/MWh €160/MWh Biogas plant between 1 and 5 MW €125/MWh €112/MWh WTE plants > 5 MW €125/MWh €119/MWh Feed-in tariffs (final amounts for 2022) Plant
Slide 37: Annex: Q1 2023 Results
STRATEGIC GUIDELINES H1 2023 RESULTS ANNEX H1 2023 ANNEX REGULATION Q1 2023 RESULTS 2022 RESULTS 36
Slide 38: Ongoing solid operating and financial performance
ONGOING SOLID OPERATING AND FINANCIAL PERFORMANCE P O S I T I V E T R E N D I N C L O S I N G M O N T H S O F 2 0 2 2 C O N T I N U E S I N Q 1 2 0 2 3 I N A M A R K E T E N V I RO N M E N T T H AT REMAINS CHALLENGING Q1 2023 SAW ACEA CONTINUE TO DELIVER STRONG OPERATING PERFORMANCE, THANKS TO THE E
Slide 39: Optimised operating and financial performance Q1 2023
OPTIMISED OPERATING AND FINANCIAL PERFORMANCE – Q1 2023 C O N T I N U AT I O N O F T H E E F F I C I E N C Y M E A S U R E S L A U N C H E D I N T H E C L O S I N G M O N T H S O F 2 0 2 2 A MAJOR INDUSTRIAL PLAYER, REVENUE EBITDA NET PROFIT WITH CONSTANT IMPROVEMENT €1,240 M €336 M €73 M IN OPERATI
Slide 40: EBITDA Q1 2023
EBITDA Q1 2023 (€m) EBITDA +6% 318 10 6 15 2 336 (1) (14) ORGANIC GROWTH (+€20m) Q1 2022 WATER ENERGY ENVIRONMENT GENERATION COMMERCIAL & OTHER Q1 2023 INFRASTRUCTURE TRADING BUSINESSES^ & HOLDCO EBITD A 175 92 21 14 33 1 Regulated 86% CHANGES IN SCOPE OF CONSOLIDATION 4% EBITDA (€m) Change 10% WATE
Slide 41: EBIT and Net Profit Q1 2023
EBIT AND NET PROFIT Q1 2023 EBIT (€m) NET PROFIT (€m) MAIN EFFECTS ON NET PROFIT ✓ EBITDA growth (+€12m) 153.8 149.8 Gain on sale to Equitix of majority stake in photovoltaic assets ✓ Increased depreciation, risk provisions and credit loss provisions (-€15m) 99.4 20.7 72.6 ✓ Higher financial costs (
Slide 42: CAPEX Q1 2023
CAPEX Q1 2023 CAPEX (€m) 10% 90% 222 * 31 2 1 247 ** (4) (1) (4) Q1 2022 WATER ENERGY ENVIRONMENT GENERATION COMMERCIAL OTHER BUSINESSES^ Q1 2023 INFRASTRUCTURE & TRADING & HOLDCO CAPEX Capex regulated businesses° (€m) 150 65 8 4 13 7 Capex non-regulated businesses WATER ENERGY ENVIRONMENT GENERATIO
Slide 43: Cash Flow Q1 2023
CASH FLOW Q1 2023 CASH FLOW (€m) Q1 Q1 2023 2022 TOTAL CASH FLOW: €101m EBITDA 336 318 CHANGE IN WORKING CAPITAL 124 (81) CAPEX* (247) (222) REDUCED COMMODITY COSTS AND TURNOVER AT FREE CASH FLOW 213 15 ACEA ENERGIA (SNP down) FINANCE INCOME/(COSTS) (34) (22) REINTRODUCTION OF GENERAL SYSTEM COSTS C
Slide 44: Capital structure Q1 2023
CAPITAL STRUCTURE Q1 2023 31 Mar 2023 31 Dec 2022 31 Mar 2022 Change Change LEVERAGE (€m) (A) (B) (C) (A-B) (A-C) NET DEBT/ NET DEBT/ NET DEBT 4,338.6 4,439.7 3,890.3 (101.1) 448.3 EBITDA LTM EBITDA 31 Mar 2023 31 Dec 2022 Medium/long- 5,425.2 4,722.3 4,484.6 702.9 940.6 3.3x 3.4x term Short-term (1
Slide 45: Water including gas distribution
WATER INCLUDING GAS DISTRIBUTION FINANCIAL HIGHLIGHTS Q1 2023 (€m) Q1 2023 Q1 2022 % change (A) (B) (A/B) EBITDA 174.7 165.2 +5.8% - ACEA ATO2 113.3 109.9 +3.1% - ACEA ATO5 7.9 8.6 -8.1% SLUDGE DISPOSAL BUSINESS COMBINATION WITH ASM (ktonnes) TERNI - Gori 20.5 17.7 +15.8% - Adf 47 47 ✓ closing of fi
Slide 46: Energy infrastructure
ENERGY INFRASTRUCTURE F I N A N C I A L A N D O P E R AT I O N A L H I G H L I G H T S Q 1 2 0 2 3 TOTAL NUMBER OF (€m) Q1 2023 Q1 2022 % change ELECTRICITY PODs DISTRIBUTED (‘000s) (A) (B) (A/B) (GWh) EBITDA 92.4 86.5 +6.8% 2,317 2,233 - Distribution 91.8 87.1 +5.4% - Public lighting 0.6 (0.6) n/s
Slide 47: Environment
ENVIRONMENT F I N A N C I A L A N D O P E R AT I O N A L H I G H L I G H T S Q 1 2 0 2 3 Q1 2023 Q1 2022 % change (€m) ACQUISITION OF 35% OF DECO (A) (B) (A/B) TREATMENT AND WTE ELECTRICITY DISPOSAL (KTONNES) SOLD (GWh) ✓ ACEA has increased its stake in Deco, a waste management company in Abruzzo, t
Slide 48: Generation
GENERATION F I N A N C I A L A N D O P E R AT I O N A L H I G H L I G H T S Q 1 2 0 2 3 (€m) Q1 2023 Q1 2022 % change TOTAL ELECTRICITY PRODUCED (GWh)* (A) (B) (A/B) 209 * 222* EBITDA 13.6 27.7 -50.9% CAPEX 4.4 8.4 -47.6% Q1 2022 Q1 2023 ACEA PRODUZIONE DECONSOLIDATION OF STATUS OF EBITDA ➢ Effect o
Slide 49: Commercial & Trading
COMMERCIAL & TRADING F I N A N C I A L A N D O P E R AT I O N A L H I G H L I G H T S Q 1 2 0 2 3 (€m) Q1 2023 Q1 2022 % change (A) (B) (A/B) EBITDA 32.8 17.5 +87.4% CAPEX 12.5 10.7 +16.8% TOTAL ELECTRICITY NUMBER OF TOTAL GAS SOLD NUMBER OF GAS SOLD (GWH) ELECTRICITY (M m 3 ) CUSTOMERS (‘000s) CUST
Slide 50: Annex: 2022 Results
ANNEX REGULATION Q1 2023 RESULTS 2022 RESULTS
Slide 51: Performance and delivery 2022
PERFORMANCE AND DELIVERY 2022 P O S I T I V E R E S U LT S D E S P I T E T H E U N C E RTA I N A N D V O L AT I L E S C E N A R I O NET PROFIT AFFECTED BY EXTERNAL FACTORS REVENUE EBITDA EBIT NET PROFIT €5,138m +29% €1,305m +4% €566m -3% €280m -11% Windfall tax LEVERAGE IMPACTED BY ENERGY SCENARIO A
Slide 52: EBITDA 2022
EBITDA 2022 (€m) E B I T D A + 4% MAIN DRIVERS 1,256 14 9 38 1,305 10 (19) (3) ✓ Impact of electricity distribution regulation (-€26m) ✓ Impact of energy scenario (+€37m) ✓ Technical quality bonus for water services (+€27m) ✓ Release of Terni plant from obligation to purchase CO2 2021 WATER ENERGY I
Slide 53: EBIT and Net Profit 2022
EBIT AND NET PROFIT 2022 EBIT (€m) NET PROFIT (€m) 581.1 565.9 313.3 318.2 38.5 Windfall tax 279.7 2021 2022 2021 2022 (€m) 2022 2021% CHANGE TAX RATE 2022 37.6% DEPRECIATION 594.6 546.6 +8.8% (tax rate 2021: 30.0%) INCREASE IN PROVISIONS CREDIT LOSS PROVISIONS 113.4 86.2 +31.6% FOR POTENTIAL DETERI
Slide 54: CAPEX 2022
CAPEX 2022 CAPEX (€m) 88% 12% 63 7 0 10 1,001 ** 931 * (6) (4) 2021 WATER ENERGY GENERATION COMMERCIAL & ACEA OTHER BUSINESSES^ 2022 INFRASTRUCTURE TRADING AMBIENTE AND HOLDCO CAPEX Capex regulated businesses ° (€m) 562^^ 269 30 50 46 44 Capex non-regulated businesses WATER ENERGY GENERATION COMMERC
Slide 55: Cash Flow 2022
CASH FLOW 2022 CASH FLOW (€m) 2022 2021 FREE CASH FLOW EBITDA 1,305 1,256 CHANGE IN WORKING CAPITAL (87) (95) CAPEX* (1,001) (931) SALE OF PHOTOVOLTAIC ASSETS FREE CASH FLOW 217 230 FINANCE INCOME/(COSTS) (97)° (86) COLLECTION OF TECHNICAL QUALITY BONUS (WATER) CHANGE IN PROVISIONS (157) (127) INCOM
Slide 56: Financial structure 2022
FINANCIAL STRUCTURE 2022 31 Dec 22 31 Dec 21 30 Sept 22 Change Change (€m) LEVERAGE (A) (B) (C) (A-B) (A-C) NET DEBT/ NET DEBT/ NET DEBT/ NET DEBT/ NET DEBT 4,439.7 3,988.4 4,393.0 451.3 46.7 EBITDA EBITDA RAB RAB 31 Dec 2022 31 Dec 2021 31 Dec 2022 31 Dec 2021 Medium/long- 4,722.3 4,792.0 4,706.2 (
Slide 57: Water including gas distribution
WATER INCLUDING GAS DISTRIBUTION FINANCIAL HIGHLIGHTS 2022 (€m) 2022 2021 % change (A) (B) (A/B) EBITDA 669.0 655.3 +2.1% - ACEA ATO2 452.3 436.6 +3.6% SLUDGE DISPOSED - ACEA ATO5 30.2 33.7 -10.4% OF (ktonnes) - Gori 70.5 79.0 -10.8% - Adf 63.5 62.8 +1.1% 209 191 - SII Terni 14.4 13.8 +4.3% Equity-a
Slide 58: Energy infrastructure
ENERGY INFRASTRUCTURE F I N A N C I A L A N D O P E R AT I O N A L H I G H L I G H T S 2 0 2 2 TOTAL NUMBER OF (€m) 2022 2021 % change ELECTRICITY PODs (A) (B) (A/B) DISTRIBUTED (‘000s) GWh) EBITDA 352.2 371.6 -5.2% 9,172 9,355 - areti 351.3 374.6 -6.2% - Public lighting 0.9 (3.0) n/s CAPEX 268.8 27
Slide 59: Generation
GENERATION F I N A N C I A L A N D O P E R AT I O N A L H I G H L I G H T S 2 0 2 2 TOTAL ENERGY (€m) 2022 2021 % change PRODUCED (GWh)* (A) (B) (A/B) 710 650 EBITDA 89.8 79.5 +13.0% CAPEX 30.3 **23.4 +29.5% 2021 2022 PRICE AND VOLUME EFFECTS DECONSOLIDATION OF Effect of energy price rises PHOTOVOLT
Slide 60: Commercial & Trading
COMMERCIAL & TRADING F I N A N C I A L A N D O P E R AT I O N A L H I G H L I G H T S 2 0 2 2 (€m) 2022 2021 % change (A) (B) (A/B) EBITDA 90.0 80.5 +11.8% CAPEX 49.6 49.4 +0.4% TOTAL ENERGY SOLD NUMBER OF TOTAL GAS SOLD NUMBER OF GAS (GWH) ELECTRICITY (M m 3 ) CUSTOMERS (‘000s) CUSTOMERS (‘000s) 8,
Slide 61: Environment
ENVIRONMENT F I N A N C I A L A N D O P E R AT I O N A L H I G H L I G H T S 2 0 2 2 TREATMENT AND ELECTRICITY SOLD DISPOSAL (KTONNES) (GWh) 2022 2021 % change (€m) (A) (B) (A/B) 1,715 EBITDA 101.6 63.7 +59.5% 1,515 328 322 CAPEX 46.2 36.1 +28.0% 2021 2022 2021 2022 EBITDA EBITDA FROM WTE CHANGE IN
Slide 62: Key ESG highlights
KEY ESG HIGHLIGHTS E N V I R O N M E N TA L , S O C I A L , G O V E R N A N C E A N D E C O N O M I C P E R F O R M A N C E 8.6m Inhabitants served, 36 GWh of energy CORNICION8,6 m produced (+16%) from AVANZAMENTO Italy’s largest water RIFACIMENTO approx. 20,027 kNm3 company WATER ENVIRONMENT of bio
Slide 63: Key ESG highlights
KEY ESG HIGHLIGHTS E N V I RO N M E N TA L , S O C I A L , G O V E R N A N C E A N D E C O N O M I C P E R F O R M A N C E SUSTAINABILITY COMMUNITY SUPPLIERS ➢ ACEA’S Covid-19 VACCINATION HUB ➢ 78% of QUALIFIED SUPPLIERS have delivered over 171k doses (closed from 1 January completed a self-assessme