a2a SpA : a2a SpA : The A2A S.p.A. Management Board has approved the 2012 results.

  a2a SpA : a2a SpA : The A2A S.p.A. Management Board has approved the 2012

The consolidated Turnover, up by 5.7%, reached 6.5 billion euros

The Gross Operating Margin (EBITDA) and the Net Profit respectively equalled
1,068 million (+15.6%) and 260 million

The Net Cash Flow generated in the period was positive and equalled 732
million euros

A dividend of 0.026 euros per share (0.013 euros in 2012) was proposed to the
Shareholders' meeting


Brescia, 14 March 2013 - At today's meeting of the Management Board of A2A
SpA, chaired by Mr. Graziano Tarantini, the Board examined and approved the
separate financial statements and the consolidated annual financial report of
the Group at 31 December 2012.
These drafts will be subject to final approval by the Supervisory Board which
will meet for this purpose on 29 April 2013.

The Board examined the trend of the ordinary operations which shows a Gross
Operating Margin of 1,068 million euros, up by 144 million euros (+15.6%)
compared to the previous year.
This positive result seems even more significant if the continuing and
profound difficulties characterizing the divisions of the energy sector in
which the Group operates are considered, as well as the effects caused by
recent changes (or by change proposals put forward) to the legislative and
regulatory framework. These changes (some with retroactive effect) in fact had
a negative effect on the performances of the Environment and Networks
Businesses for around 54 million euros following the conservative adjustments
made to their revenues while awaiting the outcome of the administrative
disputes already instituted by the involved Companies of the Group.

The growth of the industrial margin can be attributed to the Energy Business
whose Gross Operating Margin was up by 205 million euros (+61%), mainly due to
the effect of acquiring control of Edipower, a company that entered the
consolidation perimeter of the A2A Group from June 2012. The subsidiary
company EPCG, whose industrial result became positive again, up by 17 million
euros compared to the previous year, also contributed to the Business result.

The extraordinary operations were also positive, which, in the year, provided
a contribution of around 111 million euros to the profit for the period due to
the net capital gains deriving from the disposal of the shareholdings in
Metroweb, Coriance and eUtile as well as extraordinary income of a fiscal
nature (IRAP deductability recovery).

The net profit for the period, equal to 260 million euros, is therefore
compared with the result of the year 2011 which closed with a loss of 423
million euros, due to write-downs equal to 627 million euros.

During the period the generation of net cash flows was positive and amounted
to 732 million euros, after investments of 360 million euros and the payment
of dividends for 40 million euros. This cash generation partially offset the
effect of the consolidation of the shareholding in Edipower (for 1,083 million
euros) on the Net Financial Position which, at the end of 2012, thus amounted
to 4,372 million euros (4,021 million at 31 December 2011). The Debt Ratio
(Net Financial Position/Gross Operating Margin) was thus reduced from 4.4 (at
31 December 2011) to 4.1.

In view of the positive results of the year, the Management Board thus decided
to propose to the Shareholders' Meeting the payment of a dividend of 0.026
euros per ordinary share (0.013 euros in 2012), which will be payable on 27
June 2013 (ex-dividend date 24 June 2013) with record date on 26 June 2013.

The A2A S.p.A. Management Board has approved the 2012 results


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Source: a2a SpA via Thomson Reuters ONE
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