Performance of the equity markets and the Acea stock
Global equity markets generally performed well in 2021 despite the continuing Covid-19 pandemic. Economic recovery was aided by the support plans launched by the US and Europe and the expansionary measures adopted by the Central Banks. The Covid-19 vaccine campaign allowed for the gradual reduction of government restrictions in 2020, with the consequent recovery in economic and industrial activity.
Global economic growth had a positive impact, particularly on developed countries’ stock markets, which outperformed emerging countries’ indices.
The Italian stock market performed well and was among the best in Europe.
In 2021, Acea enjoyed a positive stock exchange performance (+9.4%). The share price rose from € 17.15 at the beginning of 2021 to € 18.76 on 30 December 2021 (the last stock exchange session of the year) with a capitalisation of € 3,995 million. The maximum value of € 21.30 was reached on 18 June, while the minimum value of € 16.12 was reached on 3 March. During the year, the daily average volumes traded were higher than 120,000 (compared to 165,000 in 2020).
(fonte Bloomberg)
As is well known, Acea issued its first Green Bond on 21 January 2021 for € 900 million. Its great success confirms the strong interest in financial strategies centred on sustainability goals. Requests for the issue exceeded the amount offered by more than seven-fold, with significant participation by green and sustainable investors which subscribed roughly 70% of the loan.
The following normalised graph shows the Acea stock values, compared to the performance of the Stock Market indices.
(grafico normalizzato ai valori di Acea - Fonte Bloomberg)
| % change 31/12/2021 (compared to 31/12/20) |
|
|---|---|
| Acea | +9.4% |
| FTSE Italia All Share | +23.7% |
| FTSE Mib | +23.0% |
| FTSE Italia Mid Cap | +30.8% |
During 2021 Acea took part in numerous events (meetings, extended presentations, utilities conferences, roadshows and reverse roadshows) with equity investors, buy-side analysts, investors and credit analysts. In consideration of the Covid-19 global health emergency, most of the communication events were held in “virtual” mode.
Conference calls/webcasts were also held with the financial community to coincide with the approval of annual and interim results.
In 2021 around 140 studies/notes on Acea were published. Six business banks analyse Acea shares with a high level of continuity. Five of them, as of 31 December 2021, expressed “positive” ratings and one of which gave a “neutral” recommendation.