(Core) Valore economico direttamente generato e distribuito, inclusi ricavi, costi operativi, remunerazioni ai dipendenti, donazioni e altri investimenti nella comunità, utili non distribuiti, pagamenti ai finanziatori e alla Pubblica Amministrazione.

The relationship with the institutions

Relations between Acea and institutions affect both the economic dimension (paying duties and taxes) and the social dimension (dealings with local institutions, with sector Authorities, dialogue with Consumer Associations and other representatives of the general public, professional and institutional cooperation, etc.) on a consistent basis with current legislation and the Group’s value codes.

The economic value distributed to public administration authorities, under the form of taxes, amounted to approximately Euro 65.6 million (Euro 85.4 million in 2010).

Agency ratings


The rating is an summary opinion on the credit worthiness of a party based on its ability to reimburse principal and interest within the pre-established deadlines. In its capacity as a company which interacts with the financial markets, Acea also voluntarily subjects itself to independent assessments made by the leading international rating agencies.

Table No. 64 – 2011 RATINGS

agency long-term rating
short-term rating
Moody’s Baa1

Capitalising on human resources and communication

The boundaries

The information and data presented in the section Capitalising on human resources and communication concerns: Acea SpA, Acea Distribuzione, Acea Illuminazione Pubblica, Acea Reti e Servizi Energetici, Acea Ato 2, Acea Ato 5, LaboratoRI, Acea8cento, Acea Energia holding, Acea Energia and Acea Produzione.

Distribution of Acea’s added value


The economic value directly generated by the Group in 2011, including the revenues which derive from both the core business and financial operations (financial income, income from equity investments, etc.), amounts to Euro 3,623.7 million, in line with the Euro 3,605.4 million in 2010.

Activities and functions of the main Group companies


The Group’s operational set-up as of 31 december 2011, by business area is outlined in chart no. 4. the activities carried out by the main companies are described in summary form in the following diagram.



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