Significant facts occurring during the reporting period
Acea S.p.A. and Open Fiber: agreement for the evolution of networks and the development of innovative services for the city of Rome
On 12 January 2018 the Chief Executive Officer of Acea S.p.A. Stefano Donnarumma and Elisabetta Ripa, CEO of Open Fiber, following the Memorandum of Understanding signed on 3 August 2017, signed an agreement defining the terms and conditions of the overall industrial agreement for the development of an ultra-broadband communications network in the city of Rome.
Acea S.p.A. Placement of bond issues for 1 billion
On 1 February 2018, Acea S.p.A. completed the placement of bond issues for an amount of € 300 million, respectively, with a 5-year maturity at floating rates (Euribor 3 months + 0.37%) and € 700 million with a fixed and maturity of 9 years and a half (1.5%), based on the € 3 billion Euro Medium Term Notes (EMTN) programme. The issue of the debenture loan, intended exclusively for institutional investors on the Euromarket, was successful, receiving requests equal to more than 2.5 times the amount of the Bonds offered. Fitch Ratings and Moody's gave the issue a rating of BBB+ and Baa2 respectively, in line with that of Acea.
Acea S.p.A. The Shareholders' Meeting approved the 2017 Financial Statements and the distribution of a dividend of 0.63 per share
On 20 April 2018, the Shareholders' Meeting of Acea S.p.A. approved the 2017 financial statements and the distribution of a dividend of € 0.63 per share, assigned for payment starting 20 June 2018 (coupon payment 18 June, record date 19 June).
Acea S.p.A. Appointment of director Michaela Castelli as Chairwoman of the Board of Directors
On 21 June 2018, the Board of Directors of Acea S.p.A., confirming their appreciation for the work of the CEO and in the spirit of continuity of management and business objectives, unanimously decided to appointment the director Michaela Castelli as Chairwoman of the Board of Directors.
Acea S.p.A. Acea enters the gas distribution sector
On 11 October 2018 Acea signed an agreement with the companies Alma C.I.S. S.r.l. and Mediterranea Energia SCARL for the acquisition of 51% of the share capital held by them in the company Pescara Distribuzione Gas S.r.l., active in the distribution of methane gas in the Municipality of Pescara. The two seller companies, which will retain 49% of the capital, will participate in synergy with Acea in the industrial management of the infrastructure. Pescara Distribuzione Gas governs the entire distribution network of the Municipality of Pescara and owns about half of it, the remainder belongs to the municipality, for a total of 325 km of network and about 62 thousand grid points. The economic value of the transaction, in terms of enterprise value for 100% of the company, is € 17 million. Following the transaction it will be consolidated by Acea at 100%, with an expected annual contribution to the EBITDA of approximately € 1.8 million.
Acea S.p.A. Moody's confirms Acea's "Baa2" rating and "stable" outlook
On 11 October 2018 Moody's confirmed Acea's ''Baa2'' rating with a "stable" outlook. The confirmation of the outlook is mainly due to the following reasons: the business mix primarily focused on regulated activities with limited exposure to price and volume risk; the strategic plan focused on regulated activities likely to ensure financial flexibility.
Acea S.p.A. GORI, agreement signed with the Campania Region and the Campania Water Authority
On 8 November 2018, GORI S.p.A., manager of the IWS (integrated water service) in the Sarnese-Vesuvian District of the Campania Region and 37% owned by Acea through the subsidiary Sarnese Vesuviano S.r.l., finalised a long-term industrial agreement with the Campania Region and the Campania Water Authority that sets the terms and conditions based on which the Company will complete the acquisition of the plants and the management of the IWS in the area. This agreement is part of the renewed cooperation commitment between regional institutions and Acea, with a view to finding the resources needed for better management of the IWS and full consolidation of the Company.