ACEA (ACE) Investor presentation summary

Business overview and financial performance

• Leading Italian infrastructure operator with a diversified, predominantly regulated business mix, representing 95–96% of EBITDA in 2025–1H 2026.

• 1H 2026 pro-forma revenues reached €1.6bn, with organic EBITDA up 4% to €719m and net profit up 16% to €176m, driven by regulated activities.

• FY 2025 organic EBITDA grew 8% to €1,420m, with net profit up 15% to €408m; net debt/EBITDA improved to 3.28x.

• Capex remained robust, totaling €1.5bn in 2025 and €663m in 1H 2026, with 91–94% focused on regulated businesses.

• Solid financial structure maintained, with Fitch and Moody’s ratings at BBB+/Baa1 (stable outlook) and successful €500m Blue Bond issuance in June 2026.

Strategic direction and growth

• Strategy centers on green, diligent growth by focusing on regulated infrastructure, expanding into adjacent segments, and increasing capex, especially in innovation.

• Shareholder value targeted through RAB, net profit, and dividend growth, supported by operational excellence and disciplined capital allocation.

• Ongoing asset rotation, including the disposal of ACEA Energia, generated significant capital gains and streamlined the business toward core regulated activities.

ESG and sustainability initiatives

• Sustainability strategy integrates decarbonization, climate adaptation, circularity, and protection of natural capital, with a Net Zero commitment differentiated by business area.

• The 2024–2028 Sustainability Plan targets €5.4bn in investments, focusing on infrastructure resilience, water conservation, environmental protection, and community value.

• Over 1 TWh of electricity produced in 2025–2026, 63% from renewables; 4.4Mcm of water recovered and reused (+30% YoY); 0.9M Smc biomethane produced.

• ESG ratings remain strong, with recognition from MSCI, Sustainalytics, ISS ESG, and CDP.