Consolidated financial statements Annexes
List of consolidated companies Reconciliation of shareholders’ equity and net profit for the year ended 31 December 2009 in the consolidated and separate financial statements Remuneration of Directors, Statutory Auditors and Key Managers Information provided pursuant to CONSOB Ruling 6064293 List of significant investments at 31 December 2009 - art. 120, paragraph 4, Legislative Decree 58/98
Consolidated Income Statement
Consolidated balance sheet - Assets
Consolidated Balance Sheet - LIABILITIES
Cash Flow Statement
Statement of changes in shareholders’ equity
Notes to the financial statements
Annexes
List of consolidated companies Name Registered office Share % capital interest
Consolidation method
Acea Distribuzione
p.le Ostiense 2 - Rome
345,000,000
100,00%
100,00% Line-by-line
Acea Ato 2
p.le Ostiense 2 - Rome
362,834,320
96,46%
100,00% Line-by-line
Acea Reti e Servizi Energetici
p.le Ostiense 2 - Rome
300,120,000
100,00%
100,00% Line-by-line
Acque Blu Arno Basso
p.le Ostiense 2 - Rome
8,000,000
69,00%
100,00% Line-by-line
Acque Blu Fiorentine
p.le Ostiense 2 - Rome
15,153,400
69,00%
100,00% Line-by-line
Ombrone
p.le Ostiense 2 - Rome
6,500,000
84,57%
100,00% Line-by-line
LaboratoRI
via Vitorchiano – Rome
2,444,000
100,00%
100,00% Line-by-line
Acea Ato 5
viale Roma snc -Frosinone
10,330,000
93,58%
100,00% Line-by-line
Sarnese Vesuviano
p.le Ostiense 2 - Rome
6,735,053
95,79%
100,00% Line-by-line
CREA SpA
p.le Ostiense 2 - Rome
2,678,958
100,00%
100,00% Line-by-line
Crea Gestioni srl
p.le Ostiense 2 - Rome
100,000
100,00%
100,00% Line-by-line
Crea Partecipazioni srl
p.le Ostiense 2 - Rome
100,000
100,00%
100,00% Line-by-line
Gesesa Z.I. Pezzapiana - Benevento
520,632
59,67%
100,00% Line-by-line
Lunigiana
via Nazionale 173/A – Aulla (MS)
750,000
95,79%
100,00% Line-by-line
p.le Ostiense 2 - Rome
100,000
100,00%
100,00% Line-by-line
Aguaazul Bogotà S Esp Bogotà - Colombia
1,516,174
51,00%
100,00% Line-by-line
Acea Dominicana Santo Domingo
644,937
100,00%
100,00% Line-by-line
AceaRieti (ex Omnia)
ARIA
via Giordano Bruno 7 - Terni
2,224,992
100,00%
100,00% Line-by-line
EALL
via Giordano Bruno 7 - Terni
5,164,000
100,00%
100,00% Line-by-line
Terni EN.A.
via Giordano Bruno 7 - Terni
6,546,492
100,00%
100,00% Line-by-line
piazza del Commercio 21 - Orvieto
7,524,400
100,00%
100,00% Line-by-line
via Casilina Km 57,200 Località Castellaccio - Paliano (FR)
100,000
100,00%
100,00% Line-by-line
via Giordano Bruno 7 - Terni
50,000
100,00%
100,00% Line-by-line
SAO Enercombustibili Ergo En.A.
Ecoenergie Via San Francesco d’Assisi 15 C - Paliano (FR)
10,000
90.00%
100.00% Line-by-line
AQUASER Via dei Sarti, 15 – Volterra (PI)
3,050,000
74.21%
100.00% Line-by-line
Kyklos Srl Via Ferriere – Nettuno n. km 15 Aprilia (LT)
500,000
51.00%
100.00% Line-by-line
Solemme SpA Località Carboni in Monterotondo Marittimo (GR)
761,400
100.00%
100.00% Line-by-line
Acea8cento SpA
P.le Ostiense, 2 - Rome
120,000
100.00%
100.00% Line-by-line
Acea Ricerca e Perdite Scarl
P.le Ostiense, 2 - Rome
10,000
67.00%
100.00% Line-by-line
Acea Ato 5 Servizi Scarl
P.le Ostiense, 2 - Rome
10,000
60.00%
100.00% Line-by-line
Acea Gori Servizi Scarl Via Ex Aeroporto snc- Pomiglino d’’Arco (NA)
1,000,000
69.82%
100.00% Line-by-line
Acque Blu Via U.Bassi, 34 - Montecatini Terme
10,000
55.00%
100.00% Line-by-line
Argo
P.le Ostiense, 2 - Rome
10,000
68.39%
100.00% Line-by-line
Acque
via Bellatalla 1- Pisa
9,953,116
45,00%
45,00%
Proportionate
Acque Ingegneria
via Bellatalla 1- Pisa
50,000
100%
45,00%1
Proportionate
Acque Industriali
via Bellatalla 1- Pisa
100,000
100%
45,00%1
Proportionate
Acque Servizi
via Bellatalla 1- Pisa
400,000
100%
45,00%1
Proportionate
Consorcio Agua Azul Los Pinos 399 – 27 Lima - Perù
17,380,827
25,50%
25,50%
Proportionate
153,500,000
59,41%
59,41%
Proportionate
AceaElectrabel
4 10
Group’s consolidated interest
Consolidated financial statements
p.le Ostiense 2 - Rome
Name Registered office Share % capital interest AceaElectrabel Elettricità
Group’s consolidated interest
Consolidation method
p.le Ostiense 2 - Rome
45,000,000
100%
59,41%
Proportionate
AceaElectrabel Trading
via Flaminia 133/137 - Rome
4,000,000
84,17%2
50,00%
Proportionate
AceaElectrabel Produzione
via dell’Aeronautica 7 – Rome
102,100,000
50,00%2
29,71%
Proportionate
Umbria Energy
via B. Capponi, 100- Terni
1,000,000
50,00%3
29,71%
Proportionate
largo Toscanini 5 – Voghera (PV)
250,000
50,00%3
29,71%
Proportionate
via Panziera 16 – Prato
250,000
49,00%3
29,11%
Proportionate
Elga Sud
via Montegrappa 6 – Trani
250,000
49,00%3
29,11%
Proportionate
Ecogena
p.le Ostiense 2 - Rome
1,000,000
51,00%
51,00%
Proportionate
Ecomed
p.le Ostiense 2 - Rome
50,094
50,00%
50,00%
Proportionate
via Pozzoni 2 - Voghera
46,700,000
80,00%
29,71%
Proportionate
via Orazio 31 – Rome
4,465,000
99,50%4
29,71%
Proportionate
Voghera Energia Vendita Estra Elettricità (ex Elettria)
Voghera Energia Roselectra Longano Eolica
via Mazzola 66 – Rome
2,100,000
51,00%4
15,15%
Proportionate
Publiacqua SpA
via Villamagna 90/c - Florence
150,280,000
40,00%
40,00%
Proportionate
Publiacqua Ingegneria Srl
via Villamagna 90/c - Florence
50,000
100%
40,00%
Proportionate
Publiutenti Srl
via Villamagna 90/c - Florence
100,000
100%
40,00%
Proportionate
Gori SpA
via Dante 1 – Torre Annunziata
44,999,971
37,05%
37,05%
Proportionate
via Orazio 31 – Rome
44,460,000
30,00%
30,00%
Proportionate
Tirreno Power SpA
via Barberini 47 - Rome
91,130,000
50,00%
15,00%
Proportionate
Umbra Acque SpA
via G. Benucci 162 (PG)
15,549,889
40,00%
40,00%
Proportionate
EblAcea SpA
APICE
p.le Ostiense 2 - Rome
200,000
50,00%
50,00%
Proportionate
via F. Petrarca 22A - Milan
18,112,000
35,00%
35,00%
Proportionate
Nuove Acque SpA Loc. Cuculo - Arezzo
34,450,389
46,16%
16,16%
Proportionate
Intesa Aretina Scarl
The following companies are consolidated using the equity method: Name Registered office Share capital (in Euro)
% interest
SI(E)NERGIA (ex Cesap) SpA
str. S.ta Lucia 1/ter – Perugia
132,000
42.08%
Cesap Vendita Gas SpA
str. S.ta Lucia 1/ter – Perugia
80,000
42.08%
piazza Repubblica – Pontremoli (Massa Carrara)
217,500
49.00%
via Mameli 10 Grosseto
1,730,520
40.00%
viale Leporini 1348 - Lucca
1,450,000
28.80%
via Mercatanti 8 - Rieti
260,000
49.00%
Aguas de San Pedro Sa Las Palmas 3 - San Pedro (Honduras)
6,162,657
31.00%
Umbriadue Servizi Idrici Scarl Strada Sabbione zona ind. A72 - Terni
100,000
34.00%
viale Bianca Maria 24 - Milan
30,000
33.00%
p.le Ostiense 2 - Rome
10,000
33.50%
Amea SpA
via San Francesco d’Assisi 15 C - Frosinone
2,635,000
33.00%
Arkesia
via San Francesco d’Assisi 17 C - Frosinone
170,827
33.00%
Azga Nord SpA Acquedotto del Fiora SpA Geal SpA Sogea SpA
Dyna Green Coema
Consolidated financial statements
411
Consolidated Income Statement
Consolidated balance sheet - Assets
Consolidated Balance Sheet - LIABILITIES
Cash Flow Statement
Statement of changes in shareholders’ equity
Annexes
Notes to the financial statements
Reconciliation of shareholders’ equity and net profit for the year ended 31 December 2009 in the consolidated and separate financial statements Net profit Shareholders’ equity
31.12.2009
31.12.2008
31.12.2009
31.12.2008
Balances in ACEA’s statutory financial statements
(53,622)
48,321
1,324,407
1,518,402
Goodwill deriving from comparison of fair value of shareholders’ equity and net profit with carrying amounts
140,963
264,187
154,161
143,135
Higher depreciation and amortisation in consolidated financial statements
(1,975)
(1,380)
(10,763)
(8,788)
Elimination of effects of business combination of entities under common control
(2,104)
2,376
(2,104)
2,376
Elimination of tax effects, including those from previous years
(6,710)
15,602
53,943
60,652
Investments accounted for using the equity method
2,125
97
41,275
39,151
Elimination of dividends
(163,589)
(175,774)
0
0
Goodwill
32,565
32,583
(345,451)
(378,016)
Elimination of extraordinary items
(145)
273
(145)
273
Balances in consolidated financial statements Amounts are shown in thousands of Euros
4 12
Consolidated financial statements
(52,492)
186,285
1,215,323
1,377,184
Remuneration of Directors, Statutory Auditors and Key Managers Board of Directors Name Office Effective Termination Expiry Remuneration Non-monetary Bonuses and and Surname of office of position benefits other held incentives (2)
Redundancy/ Other retirement remuneration supplement
Giancarlo Cremonesi Chairman 29/10/2008
(1)
36
0
20
0
270
Marco Staderini
CEO
27/03/2009
(1)
28
0
0
0
241
Paolo Giorgio Bassi
Director
29/10/2008
(1)
36
0
0
0
37
Marco Maria Bianconi Director
11/05/2007
(1)
36
0
0
0
37
Massimo Caputi
Director
11/05/2007
(1)
36
0
0
0
26
Jean Louis Chaussade Director
11/05/2007
(1)
36
0
0
0
24
Pierre Clavel
Director
14/05/2009
(1)
23
0
0
0
5
Luigi Pelaggi
Director
08/05/2009
(1)
23
0
0
0
3
Andrea Peruzy
Director
08/05/2009
(1)
23
0
0
0
10
Andrea Mangoni
CEO
11/05/2007 27/03/2009
9
3
0
2,934
154
Geminello Alvi
Director
29/10/2008 14/04/2009
9
0
0
0
7
Dino Piero Giarda
Director
11/05/2007 02/04/2009
9
0
0
0
6
Jacques Hugè
Director
11/05/2007 13/05/2009
13
0
0
0
8
Amounts are shown in thousands of Euros (1) Until approval of the financial statements for the year ended 31 December 2009 (2) Amounts paid in 2009
The non-monetary benefits granted to the CEO include unlimited use of a company car, supplementary pension provision and health insurance. Key Managers Remuneration paid to the heads of the various areas of business and ACEA SpA’s corporate functions were as follows: • salaries and bonuses 2,011 thousand euros; • benefits 80 thousand euros; • redundancy/retirement supplement 3,745 thousand euros. Remuneration paid to key managers is established by the Remuneration Committee based on average levels of pay in the labour market. Board of Statutory Auditors (elected 11 May 2007) Name
Position
Name and surname Office held Term of office
Maurizio Lauri
Remuneration (E 000) Remuneration Non-monetary Bonuses and Other of position held benefits other incentives remuneration
Chairman
3 years
62
0
0
13
Roberto Pertile Statutory auditor
3 years
41
0
0
0
Francesco Lopomo Statutory auditor
3 years
41
0
0
0
Total Board of Statutory Auditors
144
0
0
13
Consolidated financial statements
413
Consolidated Income Statement
Consolidated balance sheet - Assets
Consolidated Balance Sheet - LIABILITIES
Cash Flow Statement
Statement of changes in shareholders’ equity
Notes to the financial statements
Annexes
Information provided pursuant to CONSOB Ruling 6064293 Related party transactions pursuant to CONSOB Resolution 15519 of 27 July 2006 31.12.2009 Consolidated net revenue Consolidated net revenue
208,650
7.07%
3,155,261
24,410
0.77%
2,949,716
208,650
7.07%
3,155,261
24,410
0.77%
Total cost of materials and overheads
2,385,772
457,681
19.18%
2,531,807
94,440
3.73%
2,385,772
457,681
19.18%
2,531,807
94,440
3.73%
Gross operating profit
563,944
(249,030)
-44.16%
623,454
(70,030)
-11.23%
378,088
0.00%
238,415
0.00%
185,856
(249,030)
-133.99%
385,039
(70,030)
Amortisation, depreciation, provisions and impairment charges Operating profit/(loss)
-18.19%
Total finance (costs)/income
(85,806)
906
-1.06%
(89,345)
(2,968)
3.32%
Total profit/(loss) on investments
819
0.00%
(88)
0.00%
100,869
(248,125)
-245.99%
295,606
(72,998)
-24.69%
Profit/(loss) before tax
Amounts are shown in thousands of Euros
4 14
of which Impact related party transactions
2,949,716
Total cost of materials and overheads
of which Impact 31.12.2008 related party transactions
Consolidated financial statements
Related party transactions pursuant to CONSOB Resolution 15519 of 27 July 2006 Notes Assets 31.12.2009 Ref. 11
Property, plant and equipment
of which Impact 31.12.2008 related party transactions
of which Impact related party transactions
3,192,647
0.00%
2,907,710
0
0.00%
3,347
0.00%
3,487
0
0.00%
84,312
0.00%
77,186
0
0.00%
273,410
0.00%
289,957
0
0.00%
15 Other intangible assets
81,897
0.00%
56,377
0
0.00%
16 Investments in subsidiaries and associates
28,250
0.00%
25,556
0
0.00%
6,149
0.00%
6,155
0
0.00%
237,086
0.00%
214,835
0
0.00%
19 Financial assets
20,244
4,775
23.59%
30,294
4,286
14.15%
20 Other assets
11,993
0.00%
13,808
0
0.00%
3,939,336
4,775
0.12%
3,625,365
4,286
0.12%
0
0.00%
0
0
0.00%
66,437
0.00%
76,572
0
0.00%
1,234,173
88,604
7.18%
1,261,764
120,081
9.52%
Other current assets
128,231
0.00%
111,601
0.00%
Cash and cash equivalents
102,258
0.00%
212,060
0.00%
Current financial assets
342,779
127,544
37.21%
213,736
85,793
40.14%
Current tax assets
101,996
0.00%
72,826
0
0.00%
Deferred tax assets
0.00%
0
0
100.00%
22
Current assets
1,975,874
216,148
10.94%
1,948,559
205,874
10.57%
21
Current assets held for sale
5,915,210
220,923
3.73%
5,573,924
210,160
12 Investment property 13 Goodwill and goodwill arising from consolidation 14
Concessions
17 Other investments 18
Deferred tax assets
Non-current assets 21 Non-current assets held for sale Inventories Trade receivables
Total assets
3.77%
Amounts are shown in thousands of Euros
Consolidated financial statements
415
Consolidated Income Statement
Consolidated balance sheet - Assets
Consolidated Balance Sheet - LIABILITIES
Cash Flow Statement
Statement of changes in shareholders’ equity
Notes to the financial statements
Annexes
Related party transactions pursuant to CONSOB Resolution 15519 of 27 July 2006
Notes Liabilities 31.12.2009 Ref. Shareholders’ equity
of which Impact related party transactions
share capital
1,098,899
0.00%
1,098,899
0
0.00%
legal reserve
107,096
0.00%
98,762
0
0.00%
other reserves
(242,224)
0.00%
(179,104)
0
0.00%
retained earnings (accumulated losses)
304,043
0.00%
172,342
(0)
0.00%
net profit/(loss) for the period
(52,492)
0.00%
186,285
0
0.00%
Total shareholders’ equity attributable to the Group
1,215,323
0.00%
1,377,184
0
0.00%
71,581
0.00%
67,279
0
0.00%
1,286,903
0.00%
1,444,463
0
0.00%
24 Staff termination benefits and other defined benefit obligations
123,297
0.00%
127,588
0
0.00%
25
211,232
0.00%
161,503
0
0.00%
1,839,586
0.00%
1,708,037
0
0.00%
203,051
0.00%
187,522
0
0.00%
89,431
0.00%
86,198
0
0.00%
2,466,598
0
0.00%
2,270,848
0
0.00%
0
0.00%
0
0
0.00%
Shareholders’ equity attributable to minority interests
23 Total shareholders’ equity
Provisions for liabilities and charges
26 Borrowings and financial liabilities 27 Other liabilities 28
Provisions for deferred tax liabilities
Non-current liabilities 21 Non-current liabilities held for sale Trade payables
1,028,661
95,570
9.29%
1,055,798
69,027
6.54%
Other current liabilities
260,796
0.00%
356,817
0.00%
Borrowings
802,696
102,993
12.83%
381,344
116,629
30.58%
Tax liabilities
69,556
0.00%
64,653
0
0.00%
2,161,709
198,562
9.19%
1,858,612
185,656
9.99%
29
Current liabilities
21
Current liabilities held for sale
Total liabilities and shareholders’ equity
Amounts are shown in thousands of Euros
4 16
of which Impact 31.12.2008 related party transactions
Consolidated financial statements
5,915,210
198,562
3.36%
5,573,924
185,656
3.33%
Related party transactions pursuant to CONSOB Resolution 15519 of 27 July 2006
Non-current financial assets/(liabilities) Intercompany non-current financial assets/(liabilities) Non-current payables and financial liabilities Net medium/long-term debt
31.12.2009 Related parties
31.12.2008
15,469
26,009
4,775
4,775
4,286
(1,839,586)
(1,708,037)
(1,819,342)
4,775
Related parties
4,286
(1,677,743)
4,286
Cash and cash equivalents and securities Short-term bank borrowings Current financial assets/(liabilities)
102,343
212,176
(651,202)
(199,675)
77,743
(102,993)
(42,920)
(116,629)
Intercompany current financial assets/(liabilities)
127,544
127,544
85,793
85,793
Financial assets/(liabilities) deriving from measurement of derivative instruments
(14,086)
(10,921)
Net short-term debt
(357,658)
24,551
44,453
(30,836)
Total net debt
(2,177,000)
29,326
(1,633,290)
(26,551)
Amounts are shown in thousands of Euros
Consolidated financial statements
417
Consolidated Income Statement
Consolidated balance sheet - Assets
Consolidated Balance Sheet - LIABILITIES
Cash Flow Statement
Statement of changes in shareholders’ equity
Notes to the financial statements
Annexes
Related party transactions pursuant to CONSOB Resolution 15519 of 27 July 2006
31.12.2009
Cash and cash equivalents at beginning of period
Related parties Impact 31.12.2008 Related parties Impact
212,060
93,201
Cash flows from operating activities Profit before tax and net finance costs
186,675
386,145
Amortisation
230,551
208,963
Revaluations/Impairment charges
38,011
22,347
Movement in provisions for liabilities
49,231
4,247
Net movement in staff termination benefits
(4,613)
(18,907)
714
6,520
Income taxes paid
(160,670)
(55,332)
Cash generated by operations before movements in working capital
339,898
Realised gains
0
553,984
Increase in current receivables Increase /(Decrease) in current liabilities
(9,249) (29,696)
(31,478) 340.34% (26,543)
89.38%
4,298 86,963
(51,683) (1202.45%) 121,436
Increase/(Decrease) in inventories
10,214
(3,847)
Movement in working capital
(28,731)
87,415
Movement in other operating assets/liabilities in the year
(91,387)
(120,533)
139.64%
Total cash flow from operating activities
219,780
0
520,866
Cash flows from investing activities Purchase/Sale of property, plant and equipment
(471,289)
(358,937)
Purchase/Sale of intangible assets
(40,079)
(42,198)
Investments
(13,338)
(3,434)
0
0
Purchase/Sale of investments in subsidiaries Proceeds/Payments deriving from other investments Dividends received Interest received Total
(113,659)
42,240 (37.16%)
0
92,055
(85,149)
(92.50%)
366
12,879
28,194
(625,486)
(283,954)
Cash flows from financing activities 0
(4,903)
Decrease in medium/long-term borrowings
Minority interests in capital increases by subsidiaries
(75,771)
(50,646)
Increase in other medium/long-term borrowings
191,952
Decrease/Increase in other short-term borrowings
418,542
13,636
3.26%
(279,949)
(10,779)
3.85%
(97,530)
761
(0.78%)
(115,871)
2,968
(2.56%)
Interest paid Dividends paid
(141,289)
(133,457)
Total
295,904
(118,052)
(0)
(0)
Changes in shareholders’ equity after net profit Cash flow in the period Cash and cash equivalents at end of period Amounts are shown in thousands of Euros 4 18
466,774
Consolidated financial statements
(109,802)
118,860
102,258
212,061
Non-recurring material transactions pursuant to CONSOB Resolution 15519 of 27 July 2006 It should be noted that there were no significant non-recurring transactions carried out in the period.
Consolidated financial statements
419
Consolidated Income Statement
Consolidated balance sheet - Assets
Consolidated Balance Sheet - LIABILITIES
Cash Flow Statement
Statement of changes in shareholders’ equity
Notes to the financial statements
Annexes
Positions or transactions deriving from unusual and/or exceptional transactions Pursuant to the CONSOB Ruling of 28 July 2006, we hereby declare that during the period the Group did not enter into any exceptional and/or unusual transactions as defined by the above Ruling.
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Consolidated financial statements
