2005 - 2006 - Pinsent Masons Water Yearbook 2012

ITALY PART 3 (ii): COMPANY ANALYSIS: LOCAL/REGIONAL PLAYERS
ACSM Como
ACSM Como (ACSM), the water and energy utility serving Como which has a population of 250,000
people, was partially privatised in November 1999. To date, the company has concentrated on
developing its core activities, which had a flat turnover in 1999, but are offering an improved
performance in the current year. A second share sale in November 2000 reduced the municipality's
holding to 50.6%.
In April 2003, ASCM entered into merger talks with Bergamo’s municipally held BAS Bergamo
Ambiente Servizi SpA. Bergamo is located near to Como and would add some €85 million to ASCM’s
turnover. To date, these talks have not progressed.
ACSM Como, profit and loss account
YE 31/12 (€ million) 2000 2001 2002 2003 2004
Natural gas 28.0 32.2 35.6 66.0 76.3
Waste management 9.1 14.3 21.9 18.3 15.3
Water 5.7 6.6 8.5 9.7 8.0
Group turnover 46.4 57.0 63.9 102.6 104.6
Operating profit 5.8 6.1 8.6 11.1 12.4
Net profit 2.5 2.0 3.2 3.8 3.6
Earnings Per Share (€) 0.68 0.052 0.087 0.103 0.097
ACSM sells water to 14,318 domestic customers, selling 13.2 million m 3 in 2004 at €0.44 per m 3 ,
along with 1 million m 3 to 28 industrial clients. The company has a total water treatment capacity of 16
million m 3 per annum. ACSM’s ComoDepur is responsible for water treatment and sewage, and
sewerage treatment is carried out by the Municipality of Como. ACSM is currently seeking to expand
into these areas.
Contact Details
Name: Acsm Como
Address: Via Pietro Stazzi 2,
22100 Como, Italy
Tel: +(390) 31 529 111
Fax: +(390) 31 523 267
Web: www.acsm.it
Giorgio Bordoli (Chairman)
Enrico Poliero (Commercial Director)
308 Pinsent Masons Water Yearbook 2005 – 2006