Alperia SpA closed the 2022 financial year with total Group revenues of approximately 3.6 billion euros, a sharp increase compared to last year (+75%, equal to 1.6 billion), a result which was mainly affected by the exceptional increase in the prices of energy commodities that occurred during 2022. The group communicates this in a note in which it reports that last year hydroelectric production was significantly reduced compared to that of the previous year (-27%), due of the scarce snowfall in the winter of 2021/2022 and the very low rainfall that occurred in the summer months which also led to the declaration of a state of emergency in the catchment area of the Adige river. Conversely, the average price of energy recorded on the Power Exchange, reflecting the geopolitical tensions at an international level following Russia’s invasion of Ukraine, reached an exceptional level, equal to around 304 euro/MWh against around 125 euro/MWh recorded in 2021 (+ 142%).
Group Ebitda amounted to 272.0 million euros against 250.7 million in 2021, a figure which however was affected by the change in the scope of consolidation, also including for the first time the companies Solar Total Italia Srl, operating in the sector of installation, maintenance and management of photovoltaic systems, as well as Fintel Gas and Luce Srl, active in the sale of gas and electricity.
The Group’s net profit, equal to 60.8 million euros, was instead down compared to the value of 2021 (-18.7 million), reflecting both the significant increase in provisions, the write-down of trade receivables and charges and the application of the extraordinary solidarity contribution provided for by the 2023 financial law amounting to 6.5 million. Moreover, the net result for 2021 had been positively influenced by the capital gains – equal to 9.7 million – generated by the sale of the equity investments in two investee companies. In terms of investments, those relating to the ordinary management of the Group made in 2022 amounted to approximately 167 million euros (approximately 180 million in 2021), in particular in the distribution of electricity to strengthen the quality and continuity of the service and in generation for the modernization of hydroelectric plants.
At the end of 2022, financial debt stood at 1,163 million euros (the figure at the end of 2021, subject to restatement, was equal to 715.9 million euros), a significant increase – it is explained – which is mainly attributable the particular reference energy scenario created in 2022 with an extraordinarily high price level which generated a temporary significant cash absorption as well as the purchase from customers of credits for tax deductions deriving from energy efficiency measures carried out by the Group (so-called Ecobonus, Super bonuses, etc.).
As regards the parent company Alperia SpA, against a net profit of approximately 34.2 million euros (in 2021 the result had amounted to approximately 31.4 million euros), the Management Board proposed the distribution to the shareholders of 32.0 million euros as dividends referring to the 2022 financial year, the allocation of approximately 1.7 million euros to the legal reserve (as required by current legislation) and the carry forward of the remaining approximately 0.5 million .
Commenting on the group’s results, the General Manager Luis Amort underlines how “despite the difficult market context and, overall, the scarce water supplies recorded in 2022, the Group has recorded positive results, confirming the managerial and industrial solidity achieved in these years and the related actions taken. The Alperia Group has proven to be solid even in the face of sudden changes in the market scenario which has resulted in unprecedented price volatility. In 2022, the new Business Plan was also initiated and then also approved 2027 of the Group as well as the new Vision that will lead Alperia until 2031, combining both ambitious business objectives along the entire energy services chain but also important sustainability objectives in line with European and national directives and the Climate Plan of the Autonomous Province of Bolzano “.