Q2 2026 Acea SpA Earnings Call Transcript
Key Points
- ACEA SpA (LTS:0MHD) reported a 4% growth in organic EBITDA, driven primarily by regulated businesses, which account for 95% of total EBITDA.
- The company successfully completed the acquisition of Aquanex, enhancing its presence in the water sector.
- ACEA SpA issued Italy's first public blue bond, which was oversubscribed by more than three times, demonstrating strong investor confidence.
- The company's net profit increased significantly year-on-year, benefiting from a capital gain from the disposal of Achaia Energia.
- ACEA SpA maintained a strong balance sheet with a net debt to EBITDA ratio of 3.64 times, consistent with its full-year guidance.
- The environmental business faced temporary challenges due to scheduled plant maintenance, impacting operational results.
- The company's free cash flow was negative EUR58 million, influenced by seasonal working capital dynamics.
- There is uncertainty regarding the timing of the new business plan, with no definitive date set for its release.
- The company faces challenges in the water segment, particularly in southern Italy, due to infrastructure and investment needs.
- Interest rate increases have impacted the company's financials, with the six-month euriver and eight-year mid-spot rates rising year-on-year.
Good evening. This is the course call operator, and welcome to the presentation of the 1st year of 26th of HEA. All participants are in the listening mode only. After the initial presentation, a Q&A session will follow. To be assisted by an operator during the conference call, press star followed by zero.
And now, I would like to leave the floor to Mr. Mdavi Miki, Head of Investor Observations at Achia.
Good afternoon and welcome to the 1st year of the 2026 results presentation of the Achia Group. Paiso Palerno, CEO and General Mentor, Pierre Francesco Rani, Co-General Manager, and Valentina Bagaglia, CFO. We'll illustrate in detail the financial highlights of this year. And I'll leave the floor to the CEO and general member, Fabrizio Palermo.
Good afternoon. Let's begin today's presentation with an overview of the regulatory and market environment. As for the
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