Commercial
2023 in numbers
Operating data
|
U.M. |
2023 |
2022 |
Change |
% Change |
|
|---|---|---|---|---|---|
|
Electrical energy sold - Free |
GWh |
5,602.7 |
6,331.1 |
(728.4) |
(11.5%) |
|
Electrical energy sold – Gradual Protection |
GWh |
169.5 |
0.0 |
169.5 |
n.s. |
|
Electrical energy sold - Protected |
GWh |
1,032.8 |
1,411.0 |
(378.2) |
(26.8%) |
|
Electricity - Free market customers (POD) |
no./1,000 |
639.4 |
535.2 |
104.2 |
19.5% |
|
Electrical Energy – Gradual Protection Customers (POD) |
no./1,000 |
95.1 |
0.0 |
95.1 |
n.s. |
|
Electrical Energy - No. Protected Market customers (POD) |
no./1,000 |
509.2 |
646.8 |
(137.6) |
(21.3%) |
|
Gas sold |
MSmc |
198.9 |
208.4 |
(9.5) |
(4.6%) |
|
Gas - No. Free Market customers |
no./1,000 |
306.3 |
247.8 |
58.5 |
23.6% |
Economic and financial results
|
2023 |
2022 |
Change |
% Change |
|
|---|---|---|---|---|
|
Revenues |
2,483.0 |
3,159.7 |
(676.7) |
(21.4%) |
|
Costs |
2,353.7 |
3,069.7 |
(716.0) |
(23.3%) |
|
EBITDA |
129.3 |
90.0 |
39.3 |
43.7% |
|
Operating profit/(loss) |
58.9 |
22.0 |
36.9 |
167.5% |
|
Average workforce |
450 |
445 |
5 |
1.1% |
|
Capex |
50.2 |
49.6 |
0.6 |
1.2% |
Economic and financial results
|
2023 |
2022 |
Change |
% Change |
|
|---|---|---|---|---|
|
EBITDA-Commercial Ssegment |
129.3 |
90.0 |
39.3 |
43.7% |
|
EBITDA – Group |
1,390.9 |
1,305.0 |
85.9 |
6.6% |
|
Percentage |
9.3% |
6.9% |
2.4 p.p. |
Year review
The Segment, responsible for the management and development of electricity and gas sales and related customer relationship activities as well as the Group’s energy management policies, closed 2023 with an EBITDA of € 129.3 million, an increase of € 39.3 million compared to 2022.
The change is mainly attributable to Acea Energia (+€ 31.5 million), due to the net improvement in the Energy and Gas margin (+€ 24.7 million), lower operating costs (€ 4.4 million) and greater revenues from penalties (€ 2.0 million). Also contributing to the increase in this area was Acea Innovation (+€ 6.8 million) as a result of higher margins on e-mobility, smart services and smart comp activities. With respect to effects on the primary energy margin, note:
- an improvement in the margin for the electricity free market (+€ 27.5 million), driven by performance in the Domestic Retail segment (average customer base +20% and unit margin +40%); on the other hand, the Gradual Protection Service margin was € 6.0 million;
- a reduction in margins relative to the Greater Protection Service (-€ 13.9 million), in part due to the automatic assignment of non-domestic customers and micro-businesses (“Other uses”) to the Gradual Protection Service as of 1 April 2023 and in part to the “natural” loss of Greater Protection Service customers to the Free Market (-8%), not counterbalanced by application of higher tariffs;
- an improvement in the margin for the gas market of € 29.6 million due to higher unit margins in the B2C sector (77%), combined with an increase in the average Customer Base (21%) and in volumes (22%), while general volumes in the Business sector fell due to fewer customers (-30%).
- a reduction in the Energy Management margin for optimisation of energy flows (-€ 24.5 million compared to the previous year) due to the progress loosening of commodity price tensions seen on wholesale energy markets.
With reference to the workforce, the average number at 31 December 2023 stood at 450 employees, slightly up compared to 31 December 2022 by 5 employees.
Investments by the Segment amounted to € 50.2 million, a small increase of € 0.6 million compared to 31 December 2022. Total investments mainly related to Acea Energia and mostly referred to the cost of acquiring new customers in accordance with IFRS15 (€ 32.0 million). The smart services and e-mobility projects (€ 2.9 million) developed by Acea Innovation also contributed to the investments of the Segment.