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The Board of Directors examined and approved the 2019-2023 Strategic Plan of the A2A Group

Strategic Plan confirmed and updated
Successful execution of the first year Plan 2018-2022, “TEC”, based on circular economy, energy transition and smart solutions in a context of reinforced attention to sustainability

Further improvement of the economic-financial results
EBITDA at 1.5 billion euros and Net Profit at 0.46 billion euros in 2023 NFP at 3.3 billion euros, NFP/EBITDA ratio down to 2.2x

Target CAPEX enhanced up to 4.0 billion euros
22% increase vs previous Plan with 680 million euros of digital and technological innovation

Growth of expected dividends
Increased expected dividend: 7.75 euro cents per share in 2019, 8.00 in 2020, following years’ minimum growth equal to 5% per annum

Focus on multi-business value maximisation
Further exploitation of value generated inter adjacent businesses thus improving continuously operating excellence

Additional development projects
Significant pipeline of important growth initiatives with potential value creation not included in the Plan, such as possible M&A deals and complex industrial projects

Higher focus on sustainable business
2019-2023 Sustainability Plan approved 670 million euros of CAPEX in circular economy


Milan, April 3rd, 2019 – The Board of Directors of A2A examined and approved the Group’s 2019-2023 Strategic Plan, which is the evolution of the 2018-2022 Plan, announced last year.

The successful execution of previous strategic Plans targets presented to financial market since 2014 repositioned A2A in the new competitive landscape. We completed our industrial relaunch in key priority areas:

  • A new position in the energy market, becoming a greener company and a flexibility provider for the Italian electricity system;
  • A leading role in the waste sector, focusing on concrete integration of circular economy principles;
  • A business model designed to deliver outstanding client services and new solutions for the changing market needs;
  • A cross-business management of networks, to become smarter and more reliable


Main industrial trends

A2A Strategic Plan is built within three macro-trends, circular economy, energy transition and smart solutions.

  • Circular economy: Our growth in the waste sector is framed by regulation, as the EU Circular Economy Package that focuses targets along the value chain from sorted collection to effective material recovery. Our strategy is meant to encourage better waste management in our key territories, to support material recovery, and to structure a reliable market for secondary raw materials.
  • Energy transition: Our long-term development path is rooted in decarbonisation with the phase-out of coal plants, a key role of gas for energy peak demand, and strong growth in renewable resources, fully aligned to European regulations, aimed at lowering greenhouse-gas emissions, increase energy efficiency. Our path is supported by market and technological evolution, such as the decrease of LCOE of battery storage, wind and PV;
  • Smart solutions: Our view considers compulsory the adoption of digital technologies to make the utilities business more efficient, reliable and safe. In terms of services, we provide to municipalities and inhabitants energy-efficiency projects, IoT solutions and green mobility. With a decarbonized electricity strategy and growing electrification, we pave the way for the e-mobility revolution, recently supported by national incentives and boosted by city government.


Plan TEC framework

The Plan presented today confirms our three strategic guidelines:

T – Transformation
strengthening and evolving our business model, leveraging the strengths of the four business lines of A2A

E – Excellence
organization agility, operational excellence and process efficiency, decreasing the risk and enhancing inter adjacent businesses

C – Community
attraction and professional development of our people, and enhanced involvement of the external ecosystem for innvoation


The three guidelines are supported by a strong framework, which is Sustainability, the inspiring principle of A2A Group development and evolution.


A2A - Media Relations
Giuseppe Mariano
Tel. +39-02 7720.4583

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