Alessandro Russo, CEO of the group: “The past three years have been marked by the pandemic, the growth of inflation, the energy crisis and the instability on the markets due to the international political situation”
For the Cap group, 2022 marks the best performance of the three-year period, with 432 million euros in revenues and over 129 million in investments for the sustainable development of the area served. This is what emerges from the presentation of the financial statements of the group, the public green utility that manages the integrated water service of the metropolitan city of Milan, held today in the city. In detail, total revenues in 2022 amounted to 432,735,320 euros, almost entirely from the water service, Ebitda reached 93 million euros, while net profit amounted to 5,724,641 euros, l The balance sheet assets amount to 1,316,440,745 euros and the shareholders’ equity is 853,373,897 euros.
The 2022 budget, approved on May 17 by the board of directors, ideally closes the period marked by the consequences of the pandemic with record results. “The three-year period that we have left behind – said Alessandro Russo, CEO of the Cap group – was marked by the pandemic, the growth of inflation, the energy crisis and the instability on the markets due to the international political situation”.
The CEO explained that in the last year the energy crisis has had a great impact, specifying that “the water sector is the third or fourth for electricity consumption: a lot of energy is consumed to move, purify and purify water”. For this reason, the crisis has hit hard companies like the Cap group, which cannot pass the cost on to the consumer. The impact is important, he underlined, with a 144% increase in the cost of energy, which weighs on the budget “with an increase of no less than 42 million euros in electricity costs”.
The group’s industrial strategy, continued Russo, “allowed us to respond to and often anticipate the challenges of the digital, energy and ecological transitions that we are still facing today”. Investments in the circular economy, research and development, technological and digital innovation, the integration of industrial governance processes with sustainability were the elements that “allowed us to develop constant growth in economic terms, and at the same time to cut climate-changing emissions, contain energy costs and even become producers both for self-consumption and to contribute to the national grid”.
In the three-year period 2020-2022, Cap achieved over 1,159 million in total revenues, 277 million in Ebidta, 51 million in profits and over 361 million in total investments. 2022 confirms the constant growth trend started in 2014, the result of a strategy which already in 2019, with the adoption of the Sustainability plan, identified precise broad-based objectives to be pursued in a time horizon that looks to 2033 through a series of strategic investments that have made Cap one of the protagonists of the development of the circular economy in Italy.
“We have transformed our plants into real integrated platforms for the production of green bioenergy – continues Alessandro Russo – and we look to the future believing we can always do better, taking advantage of the opportunities that technologies offer in the field of renewables, in particular photovoltaic , agri-voltaic but also hydrogen”. The CEO recalled the difficulties faced by the group during this year, from double-digit inflation to the increase in the cost of raw materials and energy. And he concluded: “We believe it is essential to insist on investments, which have grown again this year, which have exceeded 1,000 million euros since 2014: a real green new deal entirely dedicated to the territory, the stakeholders, the partners and the citizens we serve “.