One of the leading Italian infrastructure operators, Acea is active in the Water, Grids, Public Lighting, Environment and Production sectors. Acea has good financial leverage and ample opportunities for growth in its various segments and territories of operation.
Leaders in the Italian integrated water service management sector, we are among the country’s foremost electricity distributors and operate in the waste treatment business. In keeping with our mission, we are working to improve residents’ lives by offering quality essential services and enhancing the value of our people.
Water | 10 | Mln people served in Italy (20 mln including foreign countries) |
Electricity | 1.6
| Mln PODs in Rome, the largest city grid in Europe (over 32,000 km)
|
Environment | 1.8 | Mln tons of waste treated, with 25 plants in 8 regions |
Engineering | 400+ | Engineers with distinctive technical skills |
Production | approximately 390 | MW of installed capacity, including around 280 from renewables |
The operational and organisational transformation process initiated in recent years has led us to focus increasingly on our regulated infrastructure businesses. In 2025, 96% of our consolidated recurring EBITDA therefore came from regulated sectors (Water Italy, Grids, Public Lighting and Environment).
Ample growth prospects. We operate in a strongly evolving scenario that offers major investment opportunities: in the water business, for infrastructure modernisation - including by way of technological enhancement - but also considering geographical expansion potential; in the electricity sector, to improve grid resilience and develop new renewable capacity with a view to addressing the energy transition; in the environmental sector, to promote development of the circular economy.
A strategy based on significant growth in investments. Our 2024-2028 Business Plan, called “Green Diligent Growth”, provides for investments totalling €7.6 billion, destined above all for development of the Water, Electricity and Environmental regulated businesses to further enhance our infrastructure leadership positions in Italy. During the plan period, RAB will increase substantially to reach €10.5 billion in 2028 (+42% compared with 2023). The strong discipline on costs and investments is a key aspect of our strategy to support cash generation combined with optimisation of our financial structure and capital allocation. The plan enablers are the valorisation of our people, the utilisation of new technologies to support service quality and security and the redesigning of our processes.
Increasing focus on sustainability. We integrate ESG criteria into all our business decisions, pursuing a sustainability strategy in line with the long-term objectives envisaged by the UN 2030 Agenda. According to our Business Plan, around €5.5 billion of anticipated industrial capex is related to significant areas for sustainability. The plan also includes specific environmental, social and governance targets. Our commitment has been acknowledged with confirmation, in September 2025, of the “EE+” rating from Standard Ethics.
Dividend Policy. The 2024-2028 Business Plan provided for the distribution of over €1 billion (accrual-based) during the plan period, with an annual DPS (Dividend per Share) growth of 4% compared with 2023. The policy implemented was more favourable: the 2024 DPS in fact showed a growth of 8% with respect to 2023. Moreover, the dividend proposed for 2026, with reference to FY2025, is €1.20 per share (+26% compared to the previous year), which includes an ordinary dividend of € 0.95 and an extraordinary component of €0.25 linked to the record results achieved by the Group in 2025, also reflecting the capital gain recognised following the sale of the High Voltage grid to Terna.
Cost of debt. As at 31 December 2025, medium/long-term debt is 80% fixed rate and has an average maturity of 4.2 years. The Group’s “all-in” average cost of debt is 2.07% (compared with 2.16% as at 31 December 2024).
Consolidated Proforma Revenues
Proforma EBITDA
Net profit
Investments
Data as at 31 December 2025
*Pursuant to IFRS 5, Acea Energia is classified as a "discontinued operation" since it is expected to be disposed of within the first six months of 2026. To provide a more meaningful analysis of financial performance, proforma Acea consolidated income statements have been prepared for the periods ended 31 December 2025 and 2024 (the "Proforma Consolidated Statements").
Investor Guidebook
2025 Consolidated Financial Statements (Italian)
2024-2028 Business Plan (Italian)
Engagement Policy
Our integrated strategy
The 2024-2028 Business Plan aims to consolidate Acea’s leadership in the Water, Electricity and Environment regulated sectors.
Financial statements and results
Access to all information regarding financial results and reference documents.
Share performance
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Financial structure
Acea is committed to guaranteeing the soundness of its financial structure, maintaining a large percentage of debt at fixed rate.
Calendar of financial and corporate events
This sets out key dates for financial disclosures and events intended for analysts and investors.
Press releases Investors
Allows access to price sensitive press releases and those of interest to investors.
