View ValuationA2A 将来の成長Future 基準チェック /06A2Aの収益と利益は、それぞれ年間0.2%と0.4%減少すると予測されています。EPS は年間0.6%で 減少すると予想されています。自己資本利益率は 3 年後に10.3%になると予測されています。主要情報-0.4%収益成長率-0.64%EPS成長率Integrated Utilities 収益成長10.5%収益成長率-0.2%将来の株主資本利益率10.25%アナリストカバレッジGood最終更新日05 May 2026今後の成長に関する最新情報更新なしすべての更新を表示Recent updatesDeclared Dividend • Mar 21Dividend increased to €0.10Dividend of €0.10 is 4.0% higher than last year. Ex-date: 18th May 2026 Payment date: 20th May 2026 Dividend yield will be 4.4%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (39% earnings payout ratio) and cash flows (76% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 8.6% over the next 3 years, which should provide support to the dividend and adequate earnings cover.お知らせ • Mar 19A2A S.p.A. announces Annual dividend, payable on May 20, 2026A2A S.p.A. announced Annual dividend of EUR 0.1040 per share payable on May 20, 2026, ex-date on May 18, 2026 and record date on May 19, 2026.Reported Earnings • Mar 19Full year 2025 earnings releasedFull year 2025 results: Revenue: €14.0b (up 11% from FY 2024). Net income: €750.0m (down 13% from FY 2024). Profit margin: 5.3% (down from 6.8% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Integrated Utilities industry in Europe.New Risk • Mar 06New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 0.06% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.06% per year for the foreseeable future. Minor Risks High level of debt (83% net debt to equity). Dividend is not well covered by cash flows (235% cash payout ratio).Board Change • Mar 02Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 12 experienced directors. No highly experienced directors. 4 independent directors (8 non-independent directors). Independent Non-Executive Vice Chairman of the Board Giovanni Comboni was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.お知らせ • Jan 07+ 3 more updatesA2A S.p.A. to Report First Half, 2026 Results on Jul 30, 2026A2A S.p.A. announced that they will report first half, 2026 results on Jul 30, 2026Board Change • Nov 11Less than half of directors are independentThere are 7 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Non-Executive Vice Chairman of the Board Giovanni Comboni was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity.Board Change • Oct 14Less than half of directors are independentThere are 7 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Non-Executive Vice Chairman of the Board Giovanni Comboni was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity.お知らせ • Jul 02Ascopiave S.p.A. (BIT:ASC) completed the acquisition of Gas network assets from A2A S.p.A. (BIT:A2A).Ascopiave S.p.A. (BIT:ASC) signed a preliminary purchase agreement to acquire Gas network assets from A2A S.p.A. (BIT:A2A) for €430 million on December 19, 2024. A cash consideration of €430 million will be paid by Ascopiave S.p.A. As part of consideration, €430 million is paid towards assets of Gas network assets of A2A S.p.A. Ascopiave will finance the acquisition mainly through the resources derived from the exercise of the put option on its minority stake in EstEnergy and, for the remaining part, through the assumption of new financial debt. For the period ending December 31, 2023, Gas network assets of A2A S.p.A. reported EBITDA of €44 million. The deal is subject to the occurrence of conditions precedent as usual for this type of transaction, including the so-called Golden Power procedure. The closing is expected by July 2025. Ascopiave S.p.A. (BIT:ASC) completed the acquisition of Gas network assets from A2A S.p.A. (BIT:A2A) on June 30, 2025.Reported Earnings • May 15First quarter 2025 earnings releasedFirst quarter 2025 results: EPS: €0.082. Revenue: €3.97b (up 16% from 1Q 2024). Net income: €257.0m (down 13% from 1Q 2024). Profit margin: 6.5% (down from 8.6% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 5.7% p.a. on average during the next 3 years, while revenues in the Integrated Utilities industry in Europe are expected to grow by 3.8%.Board Change • May 12Less than half of directors are independentThere are 7 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Non-Executive Vice Chairman of the Board Giovanni Comboni was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity.New Risk • Apr 13New major risk - Revenue sizeThe company makes less than US$1m in revenue. This is considered a major risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 6.9% per year for the foreseeable future. Revenue is less than US$1m. Minor Risks High level of debt (87% net debt to equity). Paying a dividend despite having no free cash flows.Reported Earnings • Apr 13Full year 2024 earnings released: EPS: €0.28 (vs €0.21 in FY 2023)Full year 2024 results: EPS: €0.28 (up from €0.21 in FY 2023). Net income: €864.0m (up 32% from FY 2023). Revenue is forecast to grow 32% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Integrated Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth.Declared Dividend • Apr 09Dividend increased to €0.10Dividend of €0.10 is 4.4% higher than last year. Ex-date: 19th May 2025 Payment date: 21st May 2025 Dividend yield will be 5.2%, which is higher than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (36% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 12% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to decline by 16% over the next 3 years. However, it would need to fall by 60% to increase the payout ratio to a potentially unsustainable range.Declared Dividend • Mar 23Dividend increased to €0.10Dividend of €0.10 is 4.4% higher than last year. Ex-date: 19th May 2025 Payment date: 21st May 2025 Dividend yield will be 4.5%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (36% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 12% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to decline by 16% over the next 3 years. However, it would need to fall by 60% to increase the payout ratio to a potentially unsustainable range.Reported Earnings • Mar 22Full year 2024 earnings released: EPS: €0.28 (vs €0.21 in FY 2023)Full year 2024 results: EPS: €0.28 (up from €0.21 in FY 2023). Revenue: €12.9b (down 12% from FY 2023). Net income: €864.0m (up 32% from FY 2023). Profit margin: 6.7% (up from 4.5% in FY 2023). The increase in margin was driven by lower expenses. Revenue is expected to decline by 3.0% p.a. on average during the next 3 years, while revenues in the Integrated Utilities industry in Europe are expected to grow by 3.6%. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth.お知らせ • Mar 21A2A S.p.A. announces Annual dividend, payable on May 21, 2025A2A S.p.A. announced Annual dividend of EUR 0.1000 per share payable on May 21, 2025, ex-date on May 19, 2025 and record date on May 20, 2025.Board Change • Mar 20Less than half of directors are independentThere are 7 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Non-Executive Vice Chairman of the Board Giovanni Comboni was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity.Buy Or Sell Opportunity • Feb 20Now 21% overvalued after recent price riseOver the last 90 days, the stock has risen 5.8% to €2.21. The fair value is estimated to be €1.82, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 30%. For the next 3 years, revenue is forecast to decline by 3.1% per annum. Earnings are also forecast to decline by 7.7% per annum over the same time period.Board Change • Feb 12Less than half of directors are independentThere are 7 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Non-Executive Vice Chairman of the Board Giovanni Comboni was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity.Board Change • Jan 07Less than half of directors are independentThere are 7 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Non-Executive Vice Chairman of the Board Giovanni Comboni was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity.Board Change • Dec 02Less than half of directors are independentThere are 7 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Non-Executive Vice Chairman of the Board Giovanni Comboni was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity.お知らせ • Nov 26A2A S.p.A. to Report First Half, 2025 Results on Jul 31, 2025A2A S.p.A. announced that they will report first half, 2025 results on Jul 31, 2025お知らせ • Nov 25+ 3 more updatesA2A S.p.A. to Report Fiscal Year 2024 Final Results on Mar 20, 2025A2A S.p.A. announced that they will report fiscal year 2024 final results on Mar 20, 2025Reported Earnings • Nov 17Third quarter 2024 earnings releasedThird quarter 2024 results: EPS: €0.071. Revenue: €3.11b (up 3.6% from 3Q 2023). Net income: €224.0m (up 56% from 3Q 2023). Profit margin: 7.2% (up from 4.8% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is expected to decline by 2.3% p.a. on average during the next 3 years, while revenues in the Integrated Utilities industry in Europe are expected to grow by 4.2%. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.Reported Earnings • Aug 01Second quarter 2024 earnings releasedSecond quarter 2024 results: Revenue: €2.67b (down 5.4% from 2Q 2023). Net income: €195.0m (up 86% from 2Q 2023). Profit margin: 7.3% (up from 3.7% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is expected to decline by 3.2% p.a. on average during the next 3 years, while revenues in the Integrated Utilities industry in Europe are expected to grow by 2.6%.Buy Or Sell Opportunity • May 15Now 21% overvalued after recent price riseOver the last 90 days, the stock has risen 19% to €1.97. The fair value is estimated to be €1.63, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 33% over the last 3 years. Earnings per share has grown by 4.3%. For the next 3 years, revenue is forecast to decline by 5.6% per annum. Earnings are also forecast to decline by 5.8% per annum over the same time period.Upcoming Dividend • May 13Upcoming dividend of €0.096 per shareEligible shareholders must have bought the stock before 20 May 2024. Payment date: 22 May 2024. Payout ratio is a comfortable 46% but the company is not cash flow positive. Trailing yield: 5.0%. Lower than top quartile of Austrian dividend payers (5.8%). In line with average of industry peers (5.5%).お知らせ • Apr 10+ 2 more updatesA2A S.p.A. to Report First Half, 2024 Results on Jul 30, 2024A2A S.p.A. announced that they will report first half, 2024 results on Jul 30, 2024New Risk • Apr 09New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 6.3% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 6.3% per year for the foreseeable future. Minor Risks High level of debt (82% net debt to equity). Paying a dividend despite having no free cash flows.お知らせ • Mar 26A2A S.p.A., Annual General Meeting, Apr 24, 2024A2A S.p.A., Annual General Meeting, Apr 24, 2024, at 10:00 Central European Standard Time. Location: the Museo Diocesano di Brescia in Brescia, via Gasparo da Salò Brescia Italy Agenda: To Approval of the financial statements for the year ended December 31, 2023; Reports of he Board of Directors, the Board of Statutory Auditors and the Independent Auditors Submission of the consolidated financial statements ending December 31, 2023 Presentation of the non-financial Consolidated Statement under Legislative Decree no.254/2016 and related Supplement Integrated Financial Statements 2023; to discuss Allocation of the 2023 profit and distribution of the dividend; and to discuss other matters.Declared Dividend • Mar 15Dividend increased to €0.096Dividend of €0.096 is 6.0% higher than last year. Ex-date: 20th May 2024 Payment date: 22nd May 2024 Dividend yield will be 5.8%, which is higher than the industry average of 4.5%. Sustainability & Growth Dividend is covered by both earnings (78% earnings payout ratio) and cash flows (44% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 12% over the next 3 years, which should provide support to the dividend and adequate earnings cover.お知らせ • Feb 15A2A S.p.A. to Report Fiscal Year 2023 Results on Mar 15, 2024A2A S.p.A. announced that they will report fiscal year 2023 results on Mar 15, 2024Buy Or Sell Opportunity • Jan 23Now 21% overvalued after recent price riseOver the last 90 days, the stock has risen 6.5% to €1.85. The fair value is estimated to be €1.53, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 43% over the last 3 years. Earnings per share has declined by 9.6%. For the next 3 years, revenue is forecast to grow by 0.8% per annum. Earnings are also forecast to grow by 8.3% per annum over the same time period.Reported Earnings • Nov 17Third quarter 2023 earnings releasedThird quarter 2023 results: EPS: €0.046. Revenue: €3.00b (down 57% from 3Q 2022). Net income: €144.0m (up 8.3% from 3Q 2022). Profit margin: 4.8% (up from 1.9% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to decline by 1.6% p.a. on average during the next 3 years, while revenues in the Integrated Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings.お知らせ • Nov 01A2A S.p.A., Annual General Meeting, Nov 29, 2023A2A S.p.A., Annual General Meeting, Nov 29, 2023, at 08:00 Coordinated Universal Time. Location: Auditorium of the A2A waste disposal plant in Brescia, via Malta 25/r United Kingdom United Kingdom Agenda: To consider and appoint Board Director pursuant to Article 18 of the Bylaws; to consider and approve proposed amendment of the 2023 Remuneration Policy; to consider and approve 2023 - 2025 Long-Term Variable Incentive Plan and to consider and approve other business matters.New Risk • Jul 31New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 1.7% Last year net profit margin: 2.7% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks High level of debt (99% net debt to equity). Profit margins are more than 30% lower than last year (1.7% net profit margin).Reported Earnings • Jul 30Second quarter 2023 earnings releasedSecond quarter 2023 results: Revenue: €2.90b (down 32% from 2Q 2022). Net income: €105.0m (down 58% from 2Q 2022). Profit margin: 3.6% (down from 5.9% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is expected to fall by 6.7% p.a. on average during the next 3 years compared to a 1.3% decline forecast for the Integrated Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 12% per year, which means it is tracking significantly ahead of earnings growth.Upcoming Dividend • May 15Upcoming dividend of €0.09 per share at 5.3% yieldEligible shareholders must have bought the stock before 22 May 2023. Payment date: 24 May 2023. Payout ratio is a comfortable 55% and this is well supported by cash flows. Trailing yield: 5.3%. Within top quartile of Austrian dividend payers (5.2%). In line with average of industry peers (5.4%).Reported Earnings • May 15First quarter 2023 earnings releasedFirst quarter 2023 results: Revenue: €5.13b (down 6.8% from 1Q 2022). Net income: €170.0m (up 315% from 1Q 2022). Profit margin: 3.3% (up from 0.7% in 1Q 2022). Revenue is forecast to decline by 7.6% p.a. on average during the next 3 years, while revenues in the Integrated Utilities industry in Europe are expected to remain flat.Reported Earnings • Mar 18Full year 2022 earnings releasedFull year 2022 results: Revenue: €23.2b (up 103% from FY 2021). Net income: €365.0m (down 28% from FY 2021). Profit margin: 1.6% (down from 4.5% in FY 2021). Revenue is expected to fall by 6.2% p.a. on average during the next 3 years compared to a 3.6% decline forecast for the Integrated Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 11% per year.Board Change • Nov 16High number of new directorsThere are 7 new directors who have joined the board in the last 3 years. Independent Non-Executive Vice Chairman of the Board Giovanni Comboni was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.Reported Earnings • Aug 03Second quarter 2022 earnings releasedSecond quarter 2022 results: Revenue: €4.28b (up 130% from 2Q 2021). Net income: €251.0m (up 23% from 2Q 2021). Profit margin: 5.9% (down from 11% in 2Q 2021). Over the next year, revenue is expected to shrink by 5.5% compared to a 6.2% growth forecast for the industry in Austria.Valuation Update With 7 Day Price Move • Jun 14Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to €1.30, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 11x in the Integrated Utilities industry in Europe. Total loss to shareholders of 1.0% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €1.77 per share.Buying Opportunity • Jun 10Now 22% undervalued after recent price dropOver the last 90 days, the stock is down 9.6%. The fair value is estimated to be €1.77, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 19%. For the next 3 years, revenue is forecast to grow by 9.7% per annum. Earnings is also forecast to grow by 6.4% per annum over the same time period.Upcoming Dividend • May 16Upcoming dividend of €0.09 per shareEligible shareholders must have bought the stock before 23 May 2022. Payment date: 25 May 2022. Payout ratio is a comfortable 50% and the cash payout ratio is 81%. Trailing yield: 5.0%. Within top quartile of Austrian dividend payers (4.6%). In line with average of industry peers (4.7%).Reported Earnings • May 02Full year 2021 earnings released: EPS: €0.17 (vs €0.12 in FY 2020)Full year 2021 results: EPS: €0.17 (up from €0.12 in FY 2020). Revenue: €11.4b (up 70% from FY 2020). Net income: €508.0m (up 37% from FY 2020). Profit margin: 4.5% (down from 5.5% in FY 2020). The decrease in margin was driven by higher expenses. Over the next year, revenue is expected to shrink by 28% compared to a 1.0% growth forecast for the industry in Austria. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.Board Change • Apr 27High number of new directorsThere are 7 new directors who have joined the board in the last 3 years. Lead Independent Non-Executive Director Vincenzo Cariello was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.お知らせ • Feb 04Henderson Park Capital Partners UK LLP acquired Portfolio of three well located assets in Milan from A2A S.p.A. (BIT:A2A) for approximately €220 million.Henderson Park Capital Partners UK LLP acquired Portfolio of three well located assets in Milan from A2A S.p.A. (BIT:A2A) for approximately €220 million on February 2, 2022. Henderson Park Capital Partners UK LLP completed the acquisition of Portfolio of three well located assets in Milan from A2A S.p.A. (BIT:A2A) for approximately €220 million on February 2, 2022.お知らせ • Dec 28A2A S.p.A. (BIT:A2A) agreed to acquire an unknown majority stake in Volta Green Energy S.R.L.A2A S.p.A. (BIT:A2A) agreed to acquire an unknown majority stake in Volta Green Energy S.R.L. on December 27, 2021.Upcoming Dividend • May 17Upcoming dividend of €0.08 per shareEligible shareholders must have bought the stock before 24 May 2021. Payment date: 26 May 2021. Trailing yield: 4.7%. Within top quartile of Austrian dividend payers (3.2%). Higher than average of industry peers (3.9%).Reported Earnings • May 12Full year 2020 earnings releasedThe company reported a soft full year result with weaker earnings and revenues, although profit margins were improved. Full year 2020 results: Revenue: €6.67b (down 6.8% from FY 2019). Net income: €366.0m (down 5.7% from FY 2019). Profit margin: 5.5% (up from 5.4% in FY 2019). The increase in margin was driven by lower expenses.お知らせ • Apr 29A2A S.p.A. (BIT:A2A) acquired 5% stake in Acsm-Agam S.p.A. (BIT:ACS).A2A S.p.A. (BIT:A2A) acquired 5% stake in Acsm-Agam S.p.A. (BIT:ACS) in April 27, 2021. A2A S.p.A. (BIT:A2A) completed the acquisition of 5% stake in Acsm-Agam S.p.A. (BIT:ACS) in April 27, 2021.お知らせ • Feb 16A2A S.p.A. (BIT:A2A) signed a binding agreement to acquire portfolio of 17 photovoltaic plants from Octopus Renewables Infrastructure Trust PLC (LSE:ORIT) managed by Octopus Investments Limited for approximately €210 million.A2A S.p.A. (BIT:A2A) signed a binding agreement to acquire portfolio of 17 photovoltaic plants from Octopus Renewables Infrastructure Trust PLC (LSE:ORIT)), a fund managed by Octopus Investments Limited for approximately €210 million on February 14, 2021. The transaction is subject to the approval of the Presidency of the Council of Ministers in accordance with the Golden Power Decree.Is New 90 Day High Low • Feb 13New 90-day high: €1.49The company is up 23% from its price of €1.21 on 13 November 2020. The Austrian market is up 22% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Integrated Utilities industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.27 per share.Is New 90 Day High Low • Jan 20New 90-day high: €1.35The company is up 20% from its price of €1.13 on 22 October 2020. The Austrian market is up 35% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Integrated Utilities industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €2.10 per share.お知らせ • Jan 06A2A S.p.A. (BIT:A2A) signed an agreement to acquire 27.7% stake in Saxa Gres S.r.L.A2A S.p.A. (BIT:A2A) signed an agreement to acquire 27.7% stake in Saxa Gres S.r.L. on January 5, 2021. Saxa Gres S.r.L. The transaction is subject to the fulfillment of certain conditions precedent and is expected to complete by the end of the first quarter of 2021.Is New 90 Day High Low • Dec 29New 90-day high: €1.30The company is up 6.0% from its price of €1.23 on 30 September 2020. The Austrian market is up 29% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Integrated Utilities industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €2.07 per share.お知らせ • Dec 16+ 5 more updatesA2A S.p.A. to Report Q1, 2021 Results on May 13, 2021A2A S.p.A. announced that they will report Q1, 2021 results on May 13, 2021お知らせ • Dec 10A2A S.p.A. (BIT:A2A) acquired 8.2 MW plant in Campania from Barone Costruzioni S.r.l. and Equiter Energia S.R.L.A2A S.p.A. (BIT:A2A) acquired 8.2 MW plant in Campania from Barone Costruzioni S.r.l. and Equiter Energia S.R.L. on December 9, 2020. A2A S.p.A. (BIT:A2A) completed the acquisition of 8.2 MW plant in Campania from Barone Costruzioni S.r.l. and Equiter Energia S.R.L. on December 9, 2020.Is New 90 Day High Low • Nov 26New 90-day high: €1.29The company is up 4.0% from its price of €1.24 on 28 August 2020. The Austrian market is up 14% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Integrated Utilities industry, which is also up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €0.75 per share.Analyst Estimate Surprise Post Earnings • Nov 14Revenue beats expectationsRevenue exceeded analyst estimates by 19%. Over the next year, revenue is forecast to grow 9.2%, compared to a 6.8% growth forecast for the Integrated Utilities industry in Austria.Is New 90 Day High Low • Oct 29New 90-day low: €1.07The company is down 10.0% from its price of €1.18 on 30 July 2020. The Austrian market is down 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Integrated Utilities industry, which is down 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.04 per share.Is New 90 Day High Low • Oct 13New 90-day low: €1.18The company is down 3.0% from its price of €1.22 on 15 July 2020. The Austrian market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Integrated Utilities industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.03 per share.業績と収益の成長予測WBAG:A2A - アナリストの将来予測と過去の財務データ ( )EUR Millions日付収益収益フリー・キャッシュフロー営業活動によるキャッシュ平均アナリスト数12/31/202813,160683-381,877612/31/202713,277655-961,771712/31/202613,584645-2811,558712/31/202514,0637504272,108N/A9/30/202513,7087321331,784N/A6/30/202513,4388091271,767N/A3/31/202513,1788272581,852N/A12/31/202412,857864-531,459N/A9/30/202412,7719471991,677N/A6/30/202412,663868821,517N/A3/31/202412,922779271,404N/A12/31/202314,630656-341,342N/A9/30/202317,1603696461,880N/A6/30/202321,2753524951,766N/A3/31/202322,6574976121,885N/A12/31/202223,0523603221,562N/A9/30/202221,858537-2221,014N/A6/30/202217,148453-91,115N/A3/31/202214,784412-300805N/A12/31/202111,3895083241,398N/A9/30/20218,31354012977N/A6/30/20217,5605543681,269N/A3/31/20217,159390131901N/A12/31/20206,685370115853N/A9/30/20206,597359177823N/A6/30/20206,627378-102523N/A3/31/20206,716396267908N/A12/31/20197,15238873700N/A9/30/20197,243257N/A787N/A6/30/20196,942226N/A968N/A3/31/20196,673256N/A998N/A12/31/20186,299323N/A1,023N/A9/30/20185,957375N/A1,254N/A6/30/20185,930390N/A1,036N/A3/31/20185,801373N/A860N/A12/31/20175,655378N/A866N/A9/30/20175,665125N/A847N/A6/30/20175,136210N/A869N/A3/31/20175,281242N/A819N/A12/31/20164,625213N/A827N/A9/30/20164,543158N/A866N/A6/30/20164,546175N/A905N/A3/31/20164,605114N/A935N/A12/31/20154,74473N/A896N/A9/30/20154,82541N/A752N/A6/30/20154,67618N/A771N/Aもっと見るアナリストによる今後の成長予測収入対貯蓄率: A2Aの収益は今後 3 年間で減少すると予測されています (年間-0.4% )。収益対市場: A2Aの収益は今後 3 年間で減少すると予測されています (年間-0.4% )。高成長収益: A2Aの収益は今後 3 年間で減少すると予測されています。収益対市場: A2Aの収益は今後 3 年間で減少すると予想されています (年間-0.2% )。高い収益成長: A2Aの収益は今後 3 年間で減少すると予測されています (年間-0.2% )。一株当たり利益成長率予想将来の株主資本利益率将来のROE: A2Aの 自己資本利益率 は、3年後には低くなると予測されています ( 10.3 %)。成長企業の発掘7D1Y7D1Y7D1YUtilities 業界の高成長企業。View Past Performance企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/06 07:21終値2026/05/06 00:00収益2025/12/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋A2A S.p.A. 7 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。19 アナリスト機関Francesco SalaBanca Akros S.p.A. (ESN)Tommaso MarabiniBanca Akros S.p.A. (ESN)Francesco SalaBanca Akros S.p.A. (ESN)16 その他のアナリストを表示
Declared Dividend • Mar 21Dividend increased to €0.10Dividend of €0.10 is 4.0% higher than last year. Ex-date: 18th May 2026 Payment date: 20th May 2026 Dividend yield will be 4.4%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (39% earnings payout ratio) and cash flows (76% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 8.6% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
お知らせ • Mar 19A2A S.p.A. announces Annual dividend, payable on May 20, 2026A2A S.p.A. announced Annual dividend of EUR 0.1040 per share payable on May 20, 2026, ex-date on May 18, 2026 and record date on May 19, 2026.
Reported Earnings • Mar 19Full year 2025 earnings releasedFull year 2025 results: Revenue: €14.0b (up 11% from FY 2024). Net income: €750.0m (down 13% from FY 2024). Profit margin: 5.3% (down from 6.8% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Integrated Utilities industry in Europe.
New Risk • Mar 06New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 0.06% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.06% per year for the foreseeable future. Minor Risks High level of debt (83% net debt to equity). Dividend is not well covered by cash flows (235% cash payout ratio).
Board Change • Mar 02Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 12 experienced directors. No highly experienced directors. 4 independent directors (8 non-independent directors). Independent Non-Executive Vice Chairman of the Board Giovanni Comboni was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
お知らせ • Jan 07+ 3 more updatesA2A S.p.A. to Report First Half, 2026 Results on Jul 30, 2026A2A S.p.A. announced that they will report first half, 2026 results on Jul 30, 2026
Board Change • Nov 11Less than half of directors are independentThere are 7 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Non-Executive Vice Chairman of the Board Giovanni Comboni was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity.
Board Change • Oct 14Less than half of directors are independentThere are 7 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Non-Executive Vice Chairman of the Board Giovanni Comboni was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity.
お知らせ • Jul 02Ascopiave S.p.A. (BIT:ASC) completed the acquisition of Gas network assets from A2A S.p.A. (BIT:A2A).Ascopiave S.p.A. (BIT:ASC) signed a preliminary purchase agreement to acquire Gas network assets from A2A S.p.A. (BIT:A2A) for €430 million on December 19, 2024. A cash consideration of €430 million will be paid by Ascopiave S.p.A. As part of consideration, €430 million is paid towards assets of Gas network assets of A2A S.p.A. Ascopiave will finance the acquisition mainly through the resources derived from the exercise of the put option on its minority stake in EstEnergy and, for the remaining part, through the assumption of new financial debt. For the period ending December 31, 2023, Gas network assets of A2A S.p.A. reported EBITDA of €44 million. The deal is subject to the occurrence of conditions precedent as usual for this type of transaction, including the so-called Golden Power procedure. The closing is expected by July 2025. Ascopiave S.p.A. (BIT:ASC) completed the acquisition of Gas network assets from A2A S.p.A. (BIT:A2A) on June 30, 2025.
Reported Earnings • May 15First quarter 2025 earnings releasedFirst quarter 2025 results: EPS: €0.082. Revenue: €3.97b (up 16% from 1Q 2024). Net income: €257.0m (down 13% from 1Q 2024). Profit margin: 6.5% (down from 8.6% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 5.7% p.a. on average during the next 3 years, while revenues in the Integrated Utilities industry in Europe are expected to grow by 3.8%.
Board Change • May 12Less than half of directors are independentThere are 7 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Non-Executive Vice Chairman of the Board Giovanni Comboni was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity.
New Risk • Apr 13New major risk - Revenue sizeThe company makes less than US$1m in revenue. This is considered a major risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 6.9% per year for the foreseeable future. Revenue is less than US$1m. Minor Risks High level of debt (87% net debt to equity). Paying a dividend despite having no free cash flows.
Reported Earnings • Apr 13Full year 2024 earnings released: EPS: €0.28 (vs €0.21 in FY 2023)Full year 2024 results: EPS: €0.28 (up from €0.21 in FY 2023). Net income: €864.0m (up 32% from FY 2023). Revenue is forecast to grow 32% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Integrated Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth.
Declared Dividend • Apr 09Dividend increased to €0.10Dividend of €0.10 is 4.4% higher than last year. Ex-date: 19th May 2025 Payment date: 21st May 2025 Dividend yield will be 5.2%, which is higher than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (36% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 12% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to decline by 16% over the next 3 years. However, it would need to fall by 60% to increase the payout ratio to a potentially unsustainable range.
Declared Dividend • Mar 23Dividend increased to €0.10Dividend of €0.10 is 4.4% higher than last year. Ex-date: 19th May 2025 Payment date: 21st May 2025 Dividend yield will be 4.5%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (36% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 12% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to decline by 16% over the next 3 years. However, it would need to fall by 60% to increase the payout ratio to a potentially unsustainable range.
Reported Earnings • Mar 22Full year 2024 earnings released: EPS: €0.28 (vs €0.21 in FY 2023)Full year 2024 results: EPS: €0.28 (up from €0.21 in FY 2023). Revenue: €12.9b (down 12% from FY 2023). Net income: €864.0m (up 32% from FY 2023). Profit margin: 6.7% (up from 4.5% in FY 2023). The increase in margin was driven by lower expenses. Revenue is expected to decline by 3.0% p.a. on average during the next 3 years, while revenues in the Integrated Utilities industry in Europe are expected to grow by 3.6%. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth.
お知らせ • Mar 21A2A S.p.A. announces Annual dividend, payable on May 21, 2025A2A S.p.A. announced Annual dividend of EUR 0.1000 per share payable on May 21, 2025, ex-date on May 19, 2025 and record date on May 20, 2025.
Board Change • Mar 20Less than half of directors are independentThere are 7 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Non-Executive Vice Chairman of the Board Giovanni Comboni was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity.
Buy Or Sell Opportunity • Feb 20Now 21% overvalued after recent price riseOver the last 90 days, the stock has risen 5.8% to €2.21. The fair value is estimated to be €1.82, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 30%. For the next 3 years, revenue is forecast to decline by 3.1% per annum. Earnings are also forecast to decline by 7.7% per annum over the same time period.
Board Change • Feb 12Less than half of directors are independentThere are 7 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Non-Executive Vice Chairman of the Board Giovanni Comboni was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity.
Board Change • Jan 07Less than half of directors are independentThere are 7 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Non-Executive Vice Chairman of the Board Giovanni Comboni was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity.
Board Change • Dec 02Less than half of directors are independentThere are 7 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Non-Executive Vice Chairman of the Board Giovanni Comboni was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity.
お知らせ • Nov 26A2A S.p.A. to Report First Half, 2025 Results on Jul 31, 2025A2A S.p.A. announced that they will report first half, 2025 results on Jul 31, 2025
お知らせ • Nov 25+ 3 more updatesA2A S.p.A. to Report Fiscal Year 2024 Final Results on Mar 20, 2025A2A S.p.A. announced that they will report fiscal year 2024 final results on Mar 20, 2025
Reported Earnings • Nov 17Third quarter 2024 earnings releasedThird quarter 2024 results: EPS: €0.071. Revenue: €3.11b (up 3.6% from 3Q 2023). Net income: €224.0m (up 56% from 3Q 2023). Profit margin: 7.2% (up from 4.8% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is expected to decline by 2.3% p.a. on average during the next 3 years, while revenues in the Integrated Utilities industry in Europe are expected to grow by 4.2%. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Aug 01Second quarter 2024 earnings releasedSecond quarter 2024 results: Revenue: €2.67b (down 5.4% from 2Q 2023). Net income: €195.0m (up 86% from 2Q 2023). Profit margin: 7.3% (up from 3.7% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is expected to decline by 3.2% p.a. on average during the next 3 years, while revenues in the Integrated Utilities industry in Europe are expected to grow by 2.6%.
Buy Or Sell Opportunity • May 15Now 21% overvalued after recent price riseOver the last 90 days, the stock has risen 19% to €1.97. The fair value is estimated to be €1.63, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 33% over the last 3 years. Earnings per share has grown by 4.3%. For the next 3 years, revenue is forecast to decline by 5.6% per annum. Earnings are also forecast to decline by 5.8% per annum over the same time period.
Upcoming Dividend • May 13Upcoming dividend of €0.096 per shareEligible shareholders must have bought the stock before 20 May 2024. Payment date: 22 May 2024. Payout ratio is a comfortable 46% but the company is not cash flow positive. Trailing yield: 5.0%. Lower than top quartile of Austrian dividend payers (5.8%). In line with average of industry peers (5.5%).
お知らせ • Apr 10+ 2 more updatesA2A S.p.A. to Report First Half, 2024 Results on Jul 30, 2024A2A S.p.A. announced that they will report first half, 2024 results on Jul 30, 2024
New Risk • Apr 09New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 6.3% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 6.3% per year for the foreseeable future. Minor Risks High level of debt (82% net debt to equity). Paying a dividend despite having no free cash flows.
お知らせ • Mar 26A2A S.p.A., Annual General Meeting, Apr 24, 2024A2A S.p.A., Annual General Meeting, Apr 24, 2024, at 10:00 Central European Standard Time. Location: the Museo Diocesano di Brescia in Brescia, via Gasparo da Salò Brescia Italy Agenda: To Approval of the financial statements for the year ended December 31, 2023; Reports of he Board of Directors, the Board of Statutory Auditors and the Independent Auditors Submission of the consolidated financial statements ending December 31, 2023 Presentation of the non-financial Consolidated Statement under Legislative Decree no.254/2016 and related Supplement Integrated Financial Statements 2023; to discuss Allocation of the 2023 profit and distribution of the dividend; and to discuss other matters.
Declared Dividend • Mar 15Dividend increased to €0.096Dividend of €0.096 is 6.0% higher than last year. Ex-date: 20th May 2024 Payment date: 22nd May 2024 Dividend yield will be 5.8%, which is higher than the industry average of 4.5%. Sustainability & Growth Dividend is covered by both earnings (78% earnings payout ratio) and cash flows (44% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 12% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
お知らせ • Feb 15A2A S.p.A. to Report Fiscal Year 2023 Results on Mar 15, 2024A2A S.p.A. announced that they will report fiscal year 2023 results on Mar 15, 2024
Buy Or Sell Opportunity • Jan 23Now 21% overvalued after recent price riseOver the last 90 days, the stock has risen 6.5% to €1.85. The fair value is estimated to be €1.53, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 43% over the last 3 years. Earnings per share has declined by 9.6%. For the next 3 years, revenue is forecast to grow by 0.8% per annum. Earnings are also forecast to grow by 8.3% per annum over the same time period.
Reported Earnings • Nov 17Third quarter 2023 earnings releasedThird quarter 2023 results: EPS: €0.046. Revenue: €3.00b (down 57% from 3Q 2022). Net income: €144.0m (up 8.3% from 3Q 2022). Profit margin: 4.8% (up from 1.9% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to decline by 1.6% p.a. on average during the next 3 years, while revenues in the Integrated Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings.
お知らせ • Nov 01A2A S.p.A., Annual General Meeting, Nov 29, 2023A2A S.p.A., Annual General Meeting, Nov 29, 2023, at 08:00 Coordinated Universal Time. Location: Auditorium of the A2A waste disposal plant in Brescia, via Malta 25/r United Kingdom United Kingdom Agenda: To consider and appoint Board Director pursuant to Article 18 of the Bylaws; to consider and approve proposed amendment of the 2023 Remuneration Policy; to consider and approve 2023 - 2025 Long-Term Variable Incentive Plan and to consider and approve other business matters.
New Risk • Jul 31New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 1.7% Last year net profit margin: 2.7% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks High level of debt (99% net debt to equity). Profit margins are more than 30% lower than last year (1.7% net profit margin).
Reported Earnings • Jul 30Second quarter 2023 earnings releasedSecond quarter 2023 results: Revenue: €2.90b (down 32% from 2Q 2022). Net income: €105.0m (down 58% from 2Q 2022). Profit margin: 3.6% (down from 5.9% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is expected to fall by 6.7% p.a. on average during the next 3 years compared to a 1.3% decline forecast for the Integrated Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 12% per year, which means it is tracking significantly ahead of earnings growth.
Upcoming Dividend • May 15Upcoming dividend of €0.09 per share at 5.3% yieldEligible shareholders must have bought the stock before 22 May 2023. Payment date: 24 May 2023. Payout ratio is a comfortable 55% and this is well supported by cash flows. Trailing yield: 5.3%. Within top quartile of Austrian dividend payers (5.2%). In line with average of industry peers (5.4%).
Reported Earnings • May 15First quarter 2023 earnings releasedFirst quarter 2023 results: Revenue: €5.13b (down 6.8% from 1Q 2022). Net income: €170.0m (up 315% from 1Q 2022). Profit margin: 3.3% (up from 0.7% in 1Q 2022). Revenue is forecast to decline by 7.6% p.a. on average during the next 3 years, while revenues in the Integrated Utilities industry in Europe are expected to remain flat.
Reported Earnings • Mar 18Full year 2022 earnings releasedFull year 2022 results: Revenue: €23.2b (up 103% from FY 2021). Net income: €365.0m (down 28% from FY 2021). Profit margin: 1.6% (down from 4.5% in FY 2021). Revenue is expected to fall by 6.2% p.a. on average during the next 3 years compared to a 3.6% decline forecast for the Integrated Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 11% per year.
Board Change • Nov 16High number of new directorsThere are 7 new directors who have joined the board in the last 3 years. Independent Non-Executive Vice Chairman of the Board Giovanni Comboni was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.
Reported Earnings • Aug 03Second quarter 2022 earnings releasedSecond quarter 2022 results: Revenue: €4.28b (up 130% from 2Q 2021). Net income: €251.0m (up 23% from 2Q 2021). Profit margin: 5.9% (down from 11% in 2Q 2021). Over the next year, revenue is expected to shrink by 5.5% compared to a 6.2% growth forecast for the industry in Austria.
Valuation Update With 7 Day Price Move • Jun 14Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to €1.30, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 11x in the Integrated Utilities industry in Europe. Total loss to shareholders of 1.0% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €1.77 per share.
Buying Opportunity • Jun 10Now 22% undervalued after recent price dropOver the last 90 days, the stock is down 9.6%. The fair value is estimated to be €1.77, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 19%. For the next 3 years, revenue is forecast to grow by 9.7% per annum. Earnings is also forecast to grow by 6.4% per annum over the same time period.
Upcoming Dividend • May 16Upcoming dividend of €0.09 per shareEligible shareholders must have bought the stock before 23 May 2022. Payment date: 25 May 2022. Payout ratio is a comfortable 50% and the cash payout ratio is 81%. Trailing yield: 5.0%. Within top quartile of Austrian dividend payers (4.6%). In line with average of industry peers (4.7%).
Reported Earnings • May 02Full year 2021 earnings released: EPS: €0.17 (vs €0.12 in FY 2020)Full year 2021 results: EPS: €0.17 (up from €0.12 in FY 2020). Revenue: €11.4b (up 70% from FY 2020). Net income: €508.0m (up 37% from FY 2020). Profit margin: 4.5% (down from 5.5% in FY 2020). The decrease in margin was driven by higher expenses. Over the next year, revenue is expected to shrink by 28% compared to a 1.0% growth forecast for the industry in Austria. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.
Board Change • Apr 27High number of new directorsThere are 7 new directors who have joined the board in the last 3 years. Lead Independent Non-Executive Director Vincenzo Cariello was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.
お知らせ • Feb 04Henderson Park Capital Partners UK LLP acquired Portfolio of three well located assets in Milan from A2A S.p.A. (BIT:A2A) for approximately €220 million.Henderson Park Capital Partners UK LLP acquired Portfolio of three well located assets in Milan from A2A S.p.A. (BIT:A2A) for approximately €220 million on February 2, 2022. Henderson Park Capital Partners UK LLP completed the acquisition of Portfolio of three well located assets in Milan from A2A S.p.A. (BIT:A2A) for approximately €220 million on February 2, 2022.
お知らせ • Dec 28A2A S.p.A. (BIT:A2A) agreed to acquire an unknown majority stake in Volta Green Energy S.R.L.A2A S.p.A. (BIT:A2A) agreed to acquire an unknown majority stake in Volta Green Energy S.R.L. on December 27, 2021.
Upcoming Dividend • May 17Upcoming dividend of €0.08 per shareEligible shareholders must have bought the stock before 24 May 2021. Payment date: 26 May 2021. Trailing yield: 4.7%. Within top quartile of Austrian dividend payers (3.2%). Higher than average of industry peers (3.9%).
Reported Earnings • May 12Full year 2020 earnings releasedThe company reported a soft full year result with weaker earnings and revenues, although profit margins were improved. Full year 2020 results: Revenue: €6.67b (down 6.8% from FY 2019). Net income: €366.0m (down 5.7% from FY 2019). Profit margin: 5.5% (up from 5.4% in FY 2019). The increase in margin was driven by lower expenses.
お知らせ • Apr 29A2A S.p.A. (BIT:A2A) acquired 5% stake in Acsm-Agam S.p.A. (BIT:ACS).A2A S.p.A. (BIT:A2A) acquired 5% stake in Acsm-Agam S.p.A. (BIT:ACS) in April 27, 2021. A2A S.p.A. (BIT:A2A) completed the acquisition of 5% stake in Acsm-Agam S.p.A. (BIT:ACS) in April 27, 2021.
お知らせ • Feb 16A2A S.p.A. (BIT:A2A) signed a binding agreement to acquire portfolio of 17 photovoltaic plants from Octopus Renewables Infrastructure Trust PLC (LSE:ORIT) managed by Octopus Investments Limited for approximately €210 million.A2A S.p.A. (BIT:A2A) signed a binding agreement to acquire portfolio of 17 photovoltaic plants from Octopus Renewables Infrastructure Trust PLC (LSE:ORIT)), a fund managed by Octopus Investments Limited for approximately €210 million on February 14, 2021. The transaction is subject to the approval of the Presidency of the Council of Ministers in accordance with the Golden Power Decree.
Is New 90 Day High Low • Feb 13New 90-day high: €1.49The company is up 23% from its price of €1.21 on 13 November 2020. The Austrian market is up 22% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Integrated Utilities industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.27 per share.
Is New 90 Day High Low • Jan 20New 90-day high: €1.35The company is up 20% from its price of €1.13 on 22 October 2020. The Austrian market is up 35% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Integrated Utilities industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €2.10 per share.
お知らせ • Jan 06A2A S.p.A. (BIT:A2A) signed an agreement to acquire 27.7% stake in Saxa Gres S.r.L.A2A S.p.A. (BIT:A2A) signed an agreement to acquire 27.7% stake in Saxa Gres S.r.L. on January 5, 2021. Saxa Gres S.r.L. The transaction is subject to the fulfillment of certain conditions precedent and is expected to complete by the end of the first quarter of 2021.
Is New 90 Day High Low • Dec 29New 90-day high: €1.30The company is up 6.0% from its price of €1.23 on 30 September 2020. The Austrian market is up 29% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Integrated Utilities industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €2.07 per share.
お知らせ • Dec 16+ 5 more updatesA2A S.p.A. to Report Q1, 2021 Results on May 13, 2021A2A S.p.A. announced that they will report Q1, 2021 results on May 13, 2021
お知らせ • Dec 10A2A S.p.A. (BIT:A2A) acquired 8.2 MW plant in Campania from Barone Costruzioni S.r.l. and Equiter Energia S.R.L.A2A S.p.A. (BIT:A2A) acquired 8.2 MW plant in Campania from Barone Costruzioni S.r.l. and Equiter Energia S.R.L. on December 9, 2020. A2A S.p.A. (BIT:A2A) completed the acquisition of 8.2 MW plant in Campania from Barone Costruzioni S.r.l. and Equiter Energia S.R.L. on December 9, 2020.
Is New 90 Day High Low • Nov 26New 90-day high: €1.29The company is up 4.0% from its price of €1.24 on 28 August 2020. The Austrian market is up 14% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Integrated Utilities industry, which is also up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €0.75 per share.
Analyst Estimate Surprise Post Earnings • Nov 14Revenue beats expectationsRevenue exceeded analyst estimates by 19%. Over the next year, revenue is forecast to grow 9.2%, compared to a 6.8% growth forecast for the Integrated Utilities industry in Austria.
Is New 90 Day High Low • Oct 29New 90-day low: €1.07The company is down 10.0% from its price of €1.18 on 30 July 2020. The Austrian market is down 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Integrated Utilities industry, which is down 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.04 per share.
Is New 90 Day High Low • Oct 13New 90-day low: €1.18The company is down 3.0% from its price of €1.22 on 15 July 2020. The Austrian market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Integrated Utilities industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.03 per share.