Half-yearly financial Report at June 30, 2013 - A2A

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Half-yearly financial report at June 30, 2013Dealings between the Municipalities of Milan and Brescia and the A2A Group relate to publicillumination and traffic light services and the management and distribution of electricity, gasand heat, as well as sewer management and water purification, which are governed by specialagreements and specific contracts.All transactions with entities controlled by the Municipalities of Milan and Brescia, relating tothe supply of electricity, are handled at normal market conditions.On May 27, 2011, AMSA S.p.A., an A2A S.p.A. subsidiary, signed an extension to the contract toprovide waste collection, road cleaning, waste disposal and special services for a fee of 711million euro, VAT included, for the period from January 1, 2011 to June 30, 2013; the contractterm has since been extended to December 31, 2013.Transactions with subsidiaries and associatesThe parent A2A S.p.A. provides centralized treasury services for all of its subsidiaries.Intragroup transactions are regulated through current accounts between the parentcompany and the subsidiaries; these balances bear interest at the 3-month Euribor rateincreased for the creditor positions (of A2A S.p.A.) or reduced for the debtor positions by amargin in line with that applied by the financial market.99In 2013, A2A S.p.A. and its subsidiaries again filed their VAT return on a group basis. For IRESpurposes, A2A S.p.A. files for tax on a consolidated basis, together with its main subsidiaries, inaccordance with articles 117-129 of DPR no. 917/86. To this end, a contract has been stipulatedwith each of the subsidiaries involved in the Group tax return to regulate the tax benefits andburdens transferred, with specific reference to current items. These contracts also governthe transfer of any excess gross operating income as provided in applicable legislation.A2A S.p.A signed a tax transparency agreement with an associate company, with effect from2010.The parent company provides subsidiaries and associates with administrative, tax, legal,managerial and technical services, in order to optimize the resources available within thecompany and to make the best use of existing know-how in the most economical way possible.These services are governed by specific service contracts stipulated annually. A2A S.p.A. alsomakes office space and operating areas at its own premises available to subsidiaries andassociates, as well as associated services. These are provided at market conditions.The parent company provides a power generation service to A2A Trading S.r.l. in exchange for amonthly fee based on the effective availability of the thermoelectric and hydroelectric plants.
Half-yearly financial report at June 30, 2013Note on related party transactionsTelecommunication services are provided by the subsidiary Selene S.p.A..Finally, in accordance with the Consob communication issued on September 24, 2010 layingdown regulations for transactions with related parties within the meaning of ConsobResolution no. 17221 of March 12, 2010 as amended on November 11, 2010, after receiving thepositive opinion of the Internal Control Committee the A2A S.p.A Management Boardapproved a procedure to regulate activities with related parties which took effect on January1, 2011; the purpose of this procedure is to assure the transparency and material andprocedural propriety of operations with related parties undertaken by A2A S.p.A., eitherdirectly or indirectly via subsidiaries, as defined by revised IAS 24.Summaries of balances and transactions with related parties are set out in the following tablespursuant to Consob Resolution no. 17221 of March 12, 2010:100Balance Sheet Total of which with related parties06 30 2013 Associa- Related Municipa- Subsidia- Municipa- Subsidia- Related Total % effectMillions of euro ted compa- lity ries lity ries indivi- related on thecompa- nies of Milan Municipa- of Brescia Municipa- duals parties balancenies lity lity sheetof Milan of Brescia itemTOTAL ASSETS OF WHICH: 11,997 189 64 124 7 12 1 _ 397 3.3%Non-current assets 8,226 183 37 3 223 2.7%Shareholdings 217 183 34 217 100.0%Other non-current financialassets 54 3 3 6 11.1%Current assets 3,425 6 27 124 7 9 1 174 5.1%Trade receivables 1,849 3 27 124 7 9 1 171 9.2%Current financial assets 81 3 3 3.7%TOTAL LIABILITIESOF WHICH: 8,193 8 21 9 1 9 _ 1 49 0.6%Non-current liabilities 4,831 1 1 0.0%Provisions for risks and charges 597 1 1 0.2%Current liabilities 3,362 8 20 9 1 9 1 48 1.4%Trade payables 1,158 20 9 1 9 39 3.4%Other current liabilities 732 8 1 9 1.2%
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Scenario and market
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Analysis of mainsectors of activity
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Risks and uncertainties
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Responsiblemanagement forsustainabi
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Certification of thecondensed half-
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IndipendentAuditor’s report
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Half-yearly financial Report at June 30, 2013 - A2A

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