View Past PerformanceA2A バランスシートの健全性財務の健全性 基準チェック /46A2Aの総株主資本は€6.5B 、総負債は€7.0Bで、負債比率は108.3%となります。総資産と総負債はそれぞれ€21.4Bと€14.9Bです。 A2Aの EBIT は€1.2Bで、利息カバレッジ比率7.9です。現金および短期投資は€1.9Bです。主要情報108.31%負債資本比率€7.03b負債インタレスト・カバレッジ・レシオ7.9x現金€1.90bエクイティ€6.49b負債合計€14.89b総資産€21.38b財務の健全性に関する最新情報更新なしすべての更新を表示Recent updatesお知らせ • May 07A2A S.p.A. (BIT:A2A) acquired 6 MW wind farm in Sardinia Italy.A2A S.p.A. (BIT:A2A) acquired 6 MW wind farm in Sardinia Italy on April 28, 2026. Davide Pelloso of L&B Partners Studio Legale Associato acted as legal advisor to A2A S.p.A. Matteo Aldeghi of L&B Partners Studio Legale Associato acted as legal advisor to Das Wind in the transaction. A2A S.p.A. (BIT:A2A) completed the acquisition of 6 MW wind farm in Sardinia Italy on April 28, 2026.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.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 • Dec 30Less 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.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.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 4% per year, which means it is significantly lagging earnings growth.Reported Earnings • Aug 02Second 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 • Jul 23Now 20% overvalued after recent price riseOver the last 90 days, the stock has risen 7.1% to €1.92. The fair value is estimated to be €1.60, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to decline by 2.4% per annum. Earnings are also forecast to decline by 10% per annum over the same time period.Buy Or Sell Opportunity • Jun 04Now 20% overvalued after recent price riseOver the last 90 days, the stock has risen 14% to €1.96. 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 22% over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to decline by 2.5% per annum. Earnings are also forecast to decline by 12% per annum over the same time period.Buy Or Sell Opportunity • May 13Now 20% overvalued after recent price riseOver the last 90 days, the stock has risen 19% to €1.96. The fair value is estimated to be €1.64, 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%. Within top quartile of German dividend payers (4.6%). 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, 2024Reported 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 14% 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 forecast to decline by 6.7% 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 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 German dividend payers (4.7%). In line with average of industry peers (5.4%).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 10% 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 Germany.Buying Opportunity • Jun 11Now 22% undervalued after recent price dropOver the last 90 days, the stock is down 5.1%. The fair value is estimated to be €1.86, 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 German dividend payers (4.3%). 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 Germany. 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 5% 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.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 German dividend payers (3.3%). Higher than average of industry peers (3.4%).Reported Earnings • May 13Full 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.Is New 90 Day High Low • Feb 16New 90-day high: €1.53The company is up 26% from its price of €1.22 on 17 November 2020. The German market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Integrated Utilities industry, which is down 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.28 per share.Is New 90 Day High Low • Jan 22New 90-day high: €1.36The company is up 19% from its price of €1.15 on 23 October 2020. The German market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Integrated Utilities industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.23 per share.Is New 90 Day High Low • Jan 05New 90-day high: €1.31The company is up 7.0% from its price of €1.22 on 07 October 2020. The German market is up 8.0% over the last 90 days, indicating the company underperformed over that time. However, it 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 €2.05 per share.Is New 90 Day High Low • Nov 26New 90-day high: €1.26The company is up 1.0% from its price of €1.24 on 27 August 2020. The German market is also up 1.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Integrated Utilities industry, which is down 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €0.74 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 Germany.Is New 90 Day High Low • Oct 21New 90-day low: €1.15The company is down 9.0% from its price of €1.26 on 22 July 2020. The German market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Integrated Utilities industry, which is down 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.03 per share.Is New 90 Day High Low • Sep 25New 90-day low: €1.19The company is down 5.0% from its price of €1.25 on 26 June 2020. The German market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Integrated Utilities industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.02 per share.財務状況分析短期負債: EAMの 短期資産 ( €7.9B ) が 短期負債 ( €7.5B ) を超えています。長期負債: EAMの短期資産 ( €7.9B ) が 長期負債 ( €7.4B ) を上回っています。デット・ツー・エクイティの歴史と分析負債レベル: EAMの 純負債対資本比率 ( 79% ) は 高い と見なされます。負債の削減: EAMの負債対資本比率は、過去 5 年間で106.6%から108.3%に増加しました。債務返済能力: EAMの負債は 営業キャッシュフロー によって 十分にカバー されています ( 30% )。インタレストカバレッジ: EAMの負債に対する 利息支払い は EBIT ( 7.9 x coverage) によって 十分にカバーされています。貸借対照表健全な企業の発掘7D1Y7D1Y7D1YUtilities 業界の健全な企業。View Dividend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2026/05/07 00:03終値2026/05/07 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
お知らせ • May 07A2A S.p.A. (BIT:A2A) acquired 6 MW wind farm in Sardinia Italy.A2A S.p.A. (BIT:A2A) acquired 6 MW wind farm in Sardinia Italy on April 28, 2026. Davide Pelloso of L&B Partners Studio Legale Associato acted as legal advisor to A2A S.p.A. Matteo Aldeghi of L&B Partners Studio Legale Associato acted as legal advisor to Das Wind in the transaction. A2A S.p.A. (BIT:A2A) completed the acquisition of 6 MW wind farm in Sardinia Italy on April 28, 2026.
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.
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 • Dec 30Less 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.
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.
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 4% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Aug 02Second 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 • Jul 23Now 20% overvalued after recent price riseOver the last 90 days, the stock has risen 7.1% to €1.92. The fair value is estimated to be €1.60, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to decline by 2.4% per annum. Earnings are also forecast to decline by 10% per annum over the same time period.
Buy Or Sell Opportunity • Jun 04Now 20% overvalued after recent price riseOver the last 90 days, the stock has risen 14% to €1.96. 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 22% over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to decline by 2.5% per annum. Earnings are also forecast to decline by 12% per annum over the same time period.
Buy Or Sell Opportunity • May 13Now 20% overvalued after recent price riseOver the last 90 days, the stock has risen 19% to €1.96. The fair value is estimated to be €1.64, 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%. Within top quartile of German dividend payers (4.6%). 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
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 14% 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 forecast to decline by 6.7% 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 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 German dividend payers (4.7%). In line with average of industry peers (5.4%).
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 10% 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 Germany.
Buying Opportunity • Jun 11Now 22% undervalued after recent price dropOver the last 90 days, the stock is down 5.1%. The fair value is estimated to be €1.86, 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 German dividend payers (4.3%). 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 Germany. 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 5% 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.
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 German dividend payers (3.3%). Higher than average of industry peers (3.4%).
Reported Earnings • May 13Full 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.
Is New 90 Day High Low • Feb 16New 90-day high: €1.53The company is up 26% from its price of €1.22 on 17 November 2020. The German market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Integrated Utilities industry, which is down 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.28 per share.
Is New 90 Day High Low • Jan 22New 90-day high: €1.36The company is up 19% from its price of €1.15 on 23 October 2020. The German market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Integrated Utilities industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.23 per share.
Is New 90 Day High Low • Jan 05New 90-day high: €1.31The company is up 7.0% from its price of €1.22 on 07 October 2020. The German market is up 8.0% over the last 90 days, indicating the company underperformed over that time. However, it 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 €2.05 per share.
Is New 90 Day High Low • Nov 26New 90-day high: €1.26The company is up 1.0% from its price of €1.24 on 27 August 2020. The German market is also up 1.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Integrated Utilities industry, which is down 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €0.74 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 Germany.
Is New 90 Day High Low • Oct 21New 90-day low: €1.15The company is down 9.0% from its price of €1.26 on 22 July 2020. The German market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Integrated Utilities industry, which is down 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.03 per share.
Is New 90 Day High Low • Sep 25New 90-day low: €1.19The company is down 5.0% from its price of €1.25 on 26 June 2020. The German market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Integrated Utilities industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.02 per share.