ROMA , May 15 (Reuters) – The board of Acea probably approve the updating of its business plan in the first half of June.
He said the CEO Alberto Irace, responding to an analyst during the conference on the results of the first quarter .
In this update, the company controlled by the City of Rome will also give directions more precise on how to plan to participate in the consolidation process in the sector called for by the government with the Stability Law.
The government intends to rationalize the spending of local authorities encouraging them to dispose of the service company subsidiaries, but so far this initiative did not produce results.
Irace explained that it would be a useful action of moral suasion of the government to bring out more clearly the benefits for small municipalities to participate in this consolidation . In the last annual general meeting, the CEO of ACEA said the Roman group has what it takes to participate in this process by aggregating, looking primarily in unlisted companies to broaden its scope in areas where it already operates.
Irace also said that in 2015 will continue the effort of the management to improve the management of working capital.
Acea closed the first quarter with a net profit of 50.5 million euro, up 13.5% over year and an EBITDA of 177.4 million (+ 7%). Net debt rose to 2.140000000000 2.4% compared to the end of 2014.
( Stefano Bernabei)
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