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 |
| Water Volumes | Mm3 | 43 | 43 | 0 | 0.1% |
| Equity and financial results(€ million) | 31/12/2019 | 31/12/2018 | Change | % Change |
| Revenues | 48.5 | 38.6 | 9.9 | 25.6% |
| Costs | 31.5 | 23.8 | 7.8 | 32.6% |
| EBITDA | 16.9 | 14.8 | 2.1 | 14.3% |
| Operating profit/(loss) (EBIT) | 7.7 | 7.8 | (0.1) | (1.8)% |
| Average headcount | 814 | 781 | 33 | 4.2% |
| Capex | 7.0 | 6.6 | 0.4 | 6.6% |
| Net financial debt | (4.5) | 4.1 | (8.7) | n.s. |
| EBITDA(€ million) | 31/12/2019 | 31/12/2018 | Change | % Change |
| EBITDA - Overseas Segment | 16.9 | 14.8 | 2.1 | 14.3% |
| EBITDA - Group | 1,042.3 | 933.2 | 109.1 | 11.7% |
| Percentage weight | 1.6% | 1.6% | 0.0 p.p. |
The Area currently includes the water companies that manage the water service in Latin America. Specifically:
- Aguas de San Pedro (Honduras), 60.65% owned by the Group as of October 2016, when it was consolidated using the line-by-line method. The Company serves its customers in San Pedro Sula;
- Acea Dominicana (Dominican Republic) wholly owned by the Group, provides the service to the local Municipality known as CAASD (Corporation Aqueducto Alcantariado Santo Domingo);
- AguaAzul Bogotà (Colombia) of which the Group holds 51% is consolidated on the basis of the equity method with effect from the 2016 financial statements as a result of a change in the composition of the Board of Directors;
- Consorcio Agua Azul (Peru) is controlled by the Group which owns 25.5% and provides the water and discharge service in the city of Lima. It should be noted that on 13 January 2020 additional shares in the company were acquired from the outgoing shareholder Impregilo International Infrastructures N.V., increasing the Group's shareholding from 25.5% to 44.0% (+ 18.5%). Moreover, by virtue of the amendment of the shareholders' agreements, as of the same date the Group acquired control of the company;
- Acea Perù, wholly owned by Acea International (established on 28 June 2018), not yet operational. This company was established with the specific intent to manage the aqueduct service in the city of Lima.
- Consorcio Servicio Sur controlled by Acea International (50%), Acea Ato 2 (1%) and by local partners Conhydra, Valio and India (total 49%). The Consorcio was established on 5 July 2018 with the specific aim of managing the corrective maintenance service for the drinking water and sewerage systems of the Directorate of Services Sur of Lima (Peru).
This Segment closed 2019 with an EBITDA of € 16.9 million, an increase of € 2.1 million compared to the previous year, mainly from Agua de San Pedro (+ € 1.9 million). The first application of IFRS 16 resulted in a benefit to EBITDA in terms of lower costs for rentals for € 0.2 million.
The average headcount at 31 December 2019 stood at 814 units and was up by 33 compared to the previous year, mainly due to Acea Perù (+ 38 units).
Investments in 2019 amounted to € 7.0 million, up by € 0.4 million compared to 2018, and were mainly attributable to Aguas de San Pedro for the expansion and extraordinary maintenance of the water and sewerage network in the areas managed.
Net debt at 31 December 2019 amounted to - € 4.5 million, an improvement compared to 2018 of € 8.7 million. The changes are mainly attributable to Acea International (€ 9.4 million) for payments received from the Parent Company to finance the purchase of additional shares in Consorcio Agua Azul. This transaction was completed on 13 January 2020 through the purchase of an additional stake from the outgoing shareholder Impregilo International Infrastructures N.V., with which the Group increased its stake in the company from 25.5% to 44.0% (+ 18.5%). Finally, the first application of IFRS 16 contributed to the increase of financial debt by € 0.6 million.