ENERGY INFRASTRUCTURE

Operating figures, equity and financial results for the period

OPERATING DATA U.M. 31/12/2021 31/12/2020 Change % change
Electricity distributed GWh 9,172 9,096 76 0.8%
Number of customers no./1,000 1,647 1,644 4 0.2%
Km of Grid (MV/LV) km 31,160 30,785 375 1.2%
2G Metering Groups no. 316,176 59,275 256,901 n.s.

  

Equity and financial results (€ million) 31/12/2021 31/12/2020 Change % change
Revenues 626.0 618.7 7.3 1.2%
Costs 254.4 251.1 3.3 1.3%
EBITDA 371.6 367.6 4.1 1.1%
Operating profit/(loss) (EBIT) 217.4 209.1 8.3 4.0%
Average workforce 1,275 1,269 6 0.5%
Capex 274.5 286.2 (11.7) (4.1%)
Net Financial Position 1,583.9 1,342.5 241.5 18.0%

 

EBITDA (€ million) 31/12/2021 31/12/2020 Change % change
EBITDA - Energy Infrastructure Segment 371.6 367.6 4.1 1.1%
EBITDA - Group 1,256.1 1,155.5 100.6 8.7%
Percentage weight 29.6% 31.8% (2.2 p.p.)

 

 Year review

The EBITDA for the segment at 31 December 2021 was € 371.6 million, an increase of € 4.1 million compared to 31 December 2020. EBITDA of areti increased by € 3.0 million as a result, among other things, of the margin deriving from the Open Fiber order (+€ 1.5 million), the effects of the resilience plan (+€ 2.2 million) and lower operating costs (-€ 1.7 million), partly offset by the effects deriving from energy balancing (-€ 2.1 million); as at 31 December 2021 areti distributed 9,172 GWh to end customers, slightly up on the previous year.
The EBITDA of public lighting, a negative € 3.4 million, recorded a worsening of € 1.0 million compared to 31 December 2020 due to lower revenues, mainly due to lack of authorisations for new constructions.

The average number of employees increased slightly compared to the previous year (+6 employees).

The operating result was primarily affected by lower amortisation and write-downs for the period (-€ 1.2 million), in line with lower investments compared with the previous year, and lower writedowns (-€ 1.9 million).

Investments amounted to € 274.5 million, recording a decrease of € 11.7 million and refer mainly to the expansion and upgrading of the HV, MV and LV grids, work on the primary stations, secondary substations and meters, metering groups and remote control equipment as part of the network “Adequacy and Safety” and “Innovation and Digitisation” projects. This was all intended to improve the quality of the service and increase resilience. Intangible investments refer to projects for the re-engineering of information and commercial systems.

The net financial position stood at € 1,583.9 million at 31 December 2021, an increase of € 241.5 million compared with 31 December 2020, due in part to the growing volume of investments, the dynamics of operating cash flow and the impact of energy items due to regulatory effects (reduction in system charges).

Significant events for the 2021 financial year

 

GALA
Technological innovation projects
Public Lighting
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