Discover the Acea Group online 2019 Consolidated Report
Operating figures, equity and financial results for the year
|Operating data||U.M.||31/12/2019||31/12/2018||Change||% Change|
|Net Electrical Energy transferred||GWh||327||355||(28)||(7.9)%|
|Waste coming into Orvieto plants||kTon||100||89||11||12.1%|
|Waste Recovered/Disposed of||kTon||682||565||116||20.6%|
|Incoming waste composting plants, sludge and liquids disposed of||kt||577||480||98||20.3%|
|Slag and Ash produced by WTE||kt||73||86||(13)||(14.6)%|
|Sorting plant incoming waste (Demap)||kt||31||0||31||n.s.|
|Equity and financial results(€ million)||31/12/2019||31/12/2018||Change||% Change|
|Operating profit/(loss) (EBIT)||21.1||38.4||(17.4)||(45.2)%|
|Net financial debt||256.5||203.6||52.9||26.0%|
|EBITDA(€ million)||31/12/2019||31/12/2018||Change||% Change|
|EBITDA - Environment Segment||52.0||65.6||(13.6)||(20.8)%|
|EBITDA - Group||1,042.3||933.2||109.1||11.7%|
|Percentage weight||5.0%||7.0%||(2.0 p.p.)|
The Segment closed the financial year 2019 with an EBITDA of € 52.0 million (- 20.8%). This result is mainly attributable to Acea Ambiente (- € 17.6 million) due mainly to lower revenues from CIP 6 tariffs which, although extended until 31 July 2019, produced a reduction of € 16.7 million and other residual effects such as lower revenues from electricity sold and contributions related to the San Vittore plant in Lazio because of a prolonged plant shutdown and higher costs for tariff increases on Co2. The EBITDA of the Segment also increased due to the change in the scope of consolidation as a result of the first-time consolidation of the company Demap (+ € 1.8 million) and Berg (+ € 0.5), partially offset by Bioecologia (- € 0.2 million). Finally, the first application of IFRS 16 resulted in a benefit to EBITDA in terms of lower costs for leases and rentals for € 1.0 million.
The average number of staff as at 31 December 2019 was 389, 29 more than the previous year. The growth is mainly due to the consolidation of Berg (+ 4 units) and Demap (+ 7 units), as well as to the increases recorded by Bioecologia (+ 9 units) and Acea Ambiente (+ 8 units).
Investments in the area amounted to € 51.9 million, up by € 31.9 compared to the previous year, and mainly refer to (i) revamping at the Monterotondo Marittimo plant; the inauguration of the expansion of the plant for the treatment of composting waste and anaerobic digestion took place on 10 October;; (ii) works carried out at the WTE plants in Terni and San Vittore; (iii) works to extend the landfill located in Orvieto.
The financial indebtedness of the Segment stood at € 256.5 million, a decrease of € 52.9 million compared to the previous year. This trend is essentially due to the lower cash-in from CIP 6 and the pay-out related to the acquisition of equity investments during the year. The first application of IFRS 16, on the other hand, increased the financial debt by € 4.7 million. The change in the scope of consolidation net of the application of IFRS 16 contributed positively for € 0.7 million.