2005 - 2006 - Pinsent Masons Water Yearbook 2012

ITALY PART 3 (ii): COMPANY ANALYSIS: LOCAL/REGIONAL PLAYERS
Italy
Acegas-APS
Acegas is the city of Trieste’s municipal services company, providing electricity, gas and water
services. The Commune of Trieste reduced its holding from 99.99% to 54.92% after its IPO in
February 2001. 110,000 people are served with water by Acegas. The company seeks to compete for
water and wastewater concessions in other ATOs as the market liberalises.
Acegas-Aps, pro-forma profit and loss account
Y/E 31/12 (€ million) 2003 2004
Electricity N/A 152.2
Methane N/A 146.5
Waste management N/A 94.7
Water N/A 57.1
Other services N/A 55.0
Revenues 454.6 470.9
Total turnover 488.9 503.2
Operating profit 24.8 41.7
Net profit 20.1 17.5
Earnings per share (€) N/A 0.32
In 2003, Acegas merged with APS, the ATO Bacchiglione serving the province of Padova. The
combined entity serves 1 million people in 144 municipalities and communes. The enlarged company
provided 64 million m 3 of water to 222,000 customers or approximately 460,000 people. Pro-forma
turnover for the enlarged group in 2003 was €488 million.
Trieste Padua Total
Water – people supplied 228,831 233,000 461,831
Water – customers 110,201 111,600 221,810
Water – domestic customers 90,943 92,266 183,209
Water – other customers 19,258 19,334 38,592
Water supplied (million m 3 ) 54.6 44.9 99.5
Sewerage customers 102,011 96,000 198,011
Sewage treated (million m 3 ) 39.2 14.4 53.6
Contact Details
Name: Acegas-Aps
Address: Via Maestri del Lavaro 8, 34123
Trieste, Italy
Tel: +390-40-7793111
Fax: +390-40-7793427
Web: www.acegas-aps.it
Massimo Paniccia (President)
Manlio Romanelli (VP, Finance)
307 Pinsent Masons Water Yearbook 2005 – 2006