Networks & Smart Cities
2023 in numbers
Operating data
|
U.M. |
2023 |
2022 |
Change |
% Change |
|
|---|---|---|---|---|---|
|
Electricity distributed |
GWh |
9,050 |
9,355 |
(305) |
(3.3%) |
|
No. of Customers |
no./1,000 |
1,662 |
1,653 |
9 |
0.5% |
|
Km of Grid (MV/LV) |
km |
32,144 |
31,768 |
376 |
1.2% |
|
2G Metering Groups |
no. |
333,664 |
273,294 |
60,370 |
22.1% |
Economic and financial results
|
2023 |
2022 |
Change |
% Change |
|
|---|---|---|---|---|
|
Revenues |
628.4 |
606.5 |
22.0 |
3.6% |
|
Costs |
253.0 |
254.3 |
(1.3) |
(0.5%) |
|
EBITDA |
375.4 |
352.2 |
23.3 |
6.6% |
|
Operating profit/(loss) |
221.5 |
201.9 |
19.6 |
9.7% |
|
Average workforce |
1,269 |
1,262 |
7 |
0.6% |
|
Capex |
299.6 |
268.8 |
30.8 |
11.5% |
Economic and financial results
|
2023 |
2022 |
Change |
% Change |
|
|---|---|---|---|---|
|
EBITDA Networks & Smart Cities segment |
375.4 |
352.2 |
23.3 |
6.6% |
|
EBITDA – Group |
1,390.9 |
1,305.0 |
85.9 |
6.6% |
|
Percentage |
27.0% |
27.0% |
0.0 p.p. |
Year review
The EBITDA for the segment at 31 December 2023 was € 375.4 million, showing an increase of € 23.3 million compared to 31 December 2022. EBITDA for areti was up by € 20.3 million, thanks to tariff growth, in particular from energy balancing (+€ 16.1 million) and greater revenue from penalties and compensation (+€ 2.0 million). The effects of the resilience plan offset this increase (-€ 3.0 million). With reference to the energy balance, at 31 December 2023, areti had distributed 9,050 GWh to end customers, down by 3.3% with respect to the previous year. EBITDA from public lighting, involving management of the public lighting service in the Municipality of Rome, came to € 3.9 million, an improvement of € 3.0 million with respect to the same period the previous year following extraordinary maintenance and security activities, and extraordinary items from previous years.
The average number of employees increased slightly compared to the previous year (+7 employees).
The operating result increased by € 19.6 million compared to 31 December 2022 and was affected by higher depreciation/amortisation (+€ 9.6 million) due to the combined effect of higher depreciation/amortisation of software purchased in previous periods and investments made on the distribution network and industrial and commercial equipment. This effect was partially offset by lower impairment of receivables (-€ 2.0 million) relating to user customers/users and lower provisioning in relation to the provision for staff mobility (-€ 3.9 million).
Investments amounted to € 299.6 million, an increase of € 30.8 million compared to the previous year, due to greater network expansion and modernisation projects. The investments refer to areti and are attributable to the expansion and upgrading of the HV, MV and LV grids, the mass replacement of 2G metering groups, work on the primary stations, secondary substations and meters, and remote control equipment as part of the grid “Adequacy and Safety” and “Innovation and Digitalisation” projects, all intended to improve the quality of the service and increase resilience. Intangible investments refer to projects for the re-engineering of information and commercial systems. The public lighting sector contributed for € 1.2 million.