The Board of Directors of ACEA SpA, chaired by Giancarlo Cremonesi, has approved the interim report for the six months ended 30 June 2012.
Despite a difficult macroeconomic backdrop that has led to a significant slowdown in the global economy, Acea saw an improvement across all performance indicators in H1 2012, extending the positive first-quarter performance and achieving results in line with the targets set out in its Business Plan for the period 2012-2016, thanks to the contributions from all four areas of business.
“We have improved margins and further strengthened our financial position - stressed Giancarlo Cremonesi, Chairman of Acea. At the same time, we have continued to focus on financial stability, whilst being strongly committed to boosting operating and organisational efficiency and improving the quality of our services, against a backdrop of building closer ties with our local markets.”
“The positive results for the first half of 2012 - commented Marco Staderini, Acea’s CEO - confirm the solidity of our Company, which continues to grow despite the extremely unfavourable economic and financial environment. The validity of our strategy, together with ongoing improvements in operating efficiency, forms the basis for the excellent results achieved. We have the financial resources to continue to invest in growth, taking advantage of any opportunities that may arise.”
Comparison with the same period of the previous year should take account of the fact that the figures for H1 2011 were influenced by provisions made in response to uncertainty surrounding recovery of tariff adjustments due to ATO5-Frosinone and Gori, and by inclusion of the joint venture with GdF Suez Energia Italia, the unwinding of which was completed on 31 March 2011. These results also, therefore, include the gains realised as a result of the unwinding.