Results reach an all-time high, thanks to the operational and organisational transformation undertaken, aimed at enhancing efficiency and competitiveness, and the consolidation of Acea's role as regulated infrastructure operator.
A path underpinned by constant attention to technological innovation and people and by the full integration of sustainability into corporate strategies, supporting an ongoing creation of value for all stakeholders.
Record dividend of 1.20 euro per share, up by 26% versus 2024.
2025 Results
- Investments: €1,531m showing further growth (+6% versus 2024), addressed above all to the regulated businesses (which represent approximately 89% of net capex and 94% excluding Acea Energia).
- Proforma EBITDA: €1,420m, +7% versus 2024 (recurring proforma EBITDA €1,400m, +8% YoY, approximately 96% from regulated businesses²) and +10% versus restated 2024, at the high end of the guidance provided (+8%/+10%).
- Net profit €481m, +45% versus 2024, including the capital gain generated by the sale of the High Voltage grid (Recurring net profit €376m, +15% YoY).
- Proforma Net Debt/EBITDA ratio equal to 3.28x (3.34x at 31 December 2024). Performance beyond expectations: the ratio is below the lower limit of the guidance range (3.4–3.5x).
- Proposed dividend: €1.20 per share (+26% versus 2024), of which €0.95 as an ordinary dividend and €0.25 as an extraordinary component. This extraordinary dividend is linked to the Group's record results achieved in 2025 also due to the capital gain related to the disposal of the High-Voltage network to Terna S.p.A..
- Water: consolidation of leadership, facilitated by the territorial presence expansion and the launch of strategic infrastructural works that enhance the resilience of the water network. Commencement of process to insource strategic knowhow throughout the value chain, also thanks to the acquisition of Aquanexa. Acea, the only sector operator present in the Mattei Plan Control Room, has been awarded the contract for the Brazzaville (Congo) water infrastructure upgrade project.
- Electricity: upturn in EBITDA driven by investments dedicated to upgrading and modernising the grid, in keeping with the requirements of the energy transition and with the guidelines of the Business Plan focused on regulated infrastructures.
- Environment: acceleration of the investment plan focused on improving performance and expanding waste treatment capacity. The Conference of Services has given the go ahead for Rome's new waste-to-energy plant and the issuance of all the necessary authorisations. A robotics and plant automation introductory path has been commenced, geared towards a more modern, efficient and sustainable management of waste.
Acea's Board of Directors meeting, chaired by Barbara Marinali, has today approved the separate and consolidated Financial Statements for the year ended 31 December 2025.
Acea's Chief Executive Officer, Fabrizio Palermo, commented: "The year 2025 has been one of all-time highs in terms of results achieved by Acea due to the operational and organisational transformation path launched over recent years and the growing focus on the regulated infrastructure businesses, at the same time maintaining a sound financial discipline that has led to an improvement in all economic and financial indicators. We have enhanced our role as reference operator in the development and management of essential projects for the local communities and during the year have carried out investments totalling more than 1.5 billion Euro, largely destined for the development of water and electricity networks and the upgrade of facilities in the environmental sector".
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