2005 - 2006 - Pinsent Masons Water Yearbook 2012

ITALY PART 3 (i): COMPANY AN/ALYSIS: MAJOR PLAYERS
ACEA (Azienda Comnuale Energia E Ambiente SPA)
Azienda Comunale Energia e Ambiente (ACEA), the municipality serving electricity and water
services to the city of Rome, was partially floated in February 1999. 51% of the equity is held by the
municipality of Rome, 1.9% by Suez and the rest by a variety of private and institutional investors. A
further share sale by the municipality may be considered. The company was founded in 1909 for
electricity distribution, started water provision services as AGEA in 1937 and was renamed ACEA in
1945. ACEA is Italy’s largest water and electricity utility. The company believes that it provides the
best quality drinking water in Italy, at one of the lowest prices for a major city in Europe.
ACEA, profit and loss account
Y/E 31/12 (€billion) 2000 2001 2002 2003 2004
Turnover 715.0 1,145.7 1,288.2 1,481.1 1,710.5
Operating profit 88.5 106.1 136.6 147.8 209.0
Net profit 48.8 47.6 -108.0 49.0 136.2
Earnings per share (€) 0.229 0.224 -0.509 0.230 0.63
Water revenues in 2004 were €366.2 million, generating operating profits of €152.9 million.
Country Water Sewerage Total
Italy 7,400,000 8,600,000 8,600,000
Albania 650,000 0 650,000
Armenia 900,000 0 900,000
Peru 800,000 0 800,000
Honduras 495,000 495,000 495,000
Columbia 3,900,000 0 3,900,000
Total - home markets 7,400,000 8,600,000 8,600,000
Total – international 6,845,000 495,000 6,845,000
Grand total 14,245,000 9,065,000 15,445,000
Italy
ACEA is now the leading water and wastewater company in Italy, with a 12% market share. In 1999,
2.8 million people were served with water services and 2.2million with sewerage services. This has
risen to up to 3.6 million people through ACEA ATO 2, a 30 year concession between ACEA (96%)
and 111 councils (4%) in the ATO2 Lazio region that started in January 2003. Water turnover for
ATO2 was €268 million in 2001 against €259 million in 2000. In addition, contracts for water and
wastewater services for 200,000 people in the municipalities of Guidonia-Montecelio, Tivoli,
Monterotondo, Grottaferrata and Ciampino were added to the regional activities in 2003. ACEA
expects to increase its coverage in the region by 300,000 per annum through acquiring neighbouring
municipalities.
ACEA: Activities in Italy, 2005
Contract City Million people Water billed
served (million m 3 )
ATO 2 Roma 3.29 415
ATO 5 Frostione 0.48 26
ATO 6 Siena 0.37 26
ATO 2 Pisa 0.72 57
ATO 3 Firenze 1.20 90
SIGESA National 2.40 -
Total 8.58 614
In the medium term, ACEA aims to gain contracts for a further 2.2 million people via the ASTO
process and to gain some 18% of the Italian water and sewerage market.
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Pinsent Masons Water Yearbook 2005 – 2006