Accounting standards and supplementary information pursuant to regulation 852/2020

This section explains the accounting policy, i.e. the method for constructing the portions of turnover, CapEx and OpEx associated with the eligible activities that the Group has defined on the basis of the indications shown in Annex 1 to Delegated Act 2178/2021.
For the purposes of allocating the amounts of turnover, CapEx and OpEx to the eligible activities, Acea has defined a clear and viable hierarchy of sources, used with respect to the quantitative and qualitative reporting requirements. Specifically, Acea has reconstructed the indicators by using the information present in the general, industrial and regulatory accounts. The methods for constructing the KPIs shown below and applied for the first year of entry into force of the European Regulation could undergo changes and amendments in coming years in light of legislative developments or consolidated or sector practice.
For the calculation of the eligible turnover the numerator used was the portion of consolidated net revenue generated by the sale of products or services, including intangible, associated with economic activities eligible for the Taxonomy, and the denominator was the total net revenues³³.
The net revenues were identified by using the data of the consolidated financial statements prepared according to international accounting standards and refer to the provisions of IAS1, point 82, lett. a).
Specifically, to create the indicator, the items “Revenue from sales and services” and “Other revenue and proceeds” of the consolidated income statement were used as reference; no amounts connected to economic activities included in the Taxonomy conducted for the Group’s internal consumption are present.
For the calculation of the eligible CapEx the numerator used was the portion of capital expenditure posted to the assets of the consolidated financial statements associated with eligible activities and defined based on the criteria under point 1.1.2.2. of the Delegated Act and the denominator was the total capital expenditure quantified on the basis of the criteria under point 1.1.2.1. of the Delegated Act.
In particular, the denominator includes the increases to the tangible and intangible assets during the year considered before amortisation, write-down and any revaluation, including those deriving from recalculations and reductions of value and excluding fair value changes.
For the purpose of creating the indicator, the capital expenditure was identified using data from the consolidated financial statements, with reference to the provisions of a) IAS 16 “Property, plant and equipment”; b) IAS 38 “Intangible assets” and c) IFRS 16 “Leasing”. The values reported do not include amounts associated with economic activities included in the Taxonomy relative to expenditure capitalised according to d) IAS 40 “Investment property” and e) IAS 41 “Agriculture" since these are not applicable for the Group.
For the calculation of the eligible OpEx, the numerator used was the portion of operating expenses associated with the eligible activities and defined on the basis of criteria under point 1.1.3.2 of the Delegated Act and the denominator was the total operating expenses quantified on the basis of the criteria under point 1.1.3.1. of the Delegated Act.
The latter includes direct non-capitalised costs that relate to research and development, building renovation measures, short-term lease, maintenance and repair, and any other direct expenditures relating to the day-to-day servicing of assets of property, plant and equipment by the undertaking or third party to whom activities are outsourced that are necessary to ensure the continued and effective functioning of such assets.
For the creation of the indicator, the operating expenses were identified using data from the consolidated financial statements, prepared according to international accounting standards. Specifically, the items “Personnel costs” and “External costs” included in the Consolidated Income Statement were used as reference (pro rata). With respect to the provisions contained in the Delegated Act, when defining the eligible operating costs, Acea considered all daily maintenance and necessary costs to ensure the continued and effective functioning of the assets, meaning that the operating expenditure included all maintenance expenses of the assets, including the portions of costs for the purchase of materials, services and personnel costs directly attributable to the maintenance activity.
Despite not being envisaged by the legislation, the EBITDA was identified using data from the consolidated financial statements prepared according to international accounting standards, determined by adding the item “Amortisation, depreciation, provisions and impairment charges” to the Operating Result, as the main non-cash items. For the calculation of the eligible EBITDA the numerator used was the portion of consolidated net revenue and all operating expenditure34 associated with the eligible activities as indicated above. In addition to the provisions of the legislation, the Group also decided to calculate and represent the “normalised” turnover, CapEx and OpEx KPIs, i.e. using as denominator the consolidated values net of the non-assessed portion, attributable to the Companies not included in the NFS scope (equal to 9% of the turnover, 3% of the CapEx and 6% of the OpEx).

The following tables represent the eligible activities for the Acea Group and the value of the related KPIs (portion of turnover, CapEx, OpEx), respectively, according to the provisions of the legislation and, in addition, according to the normalised allocation.

(*) For the denomination and full description of the activities, referred to herein with their number, please refer to Annexes 1 and 2 (Climate Delegated Act) of Regulation 852/2020.

(*) Includes the percentages of turnover, CapEx, OpEx attributable to the companies outside of the NFS scope

³³ Pursuant to art. 2, point 5 of Directive 201334/EU.
³⁴ Therefore, without limiting itself to the OpEx components only relative to non-capitalised costs that relate to research and development, building renovation measures, short-term lease, maintenance and repair, and any other direct expenditures relating to the day-to-day servicing of assets of property, plant and equipment by the undertaking or third party to whom activities are outsourced that are necessary to ensure the continued and effective functioning of such assets.