ESTRA: the Shareholders’ Meeting approved the Financial Statements

And the dividend distribution, and appointed the new Board of Directors

22 giugno 2023

The Shareholders’ Meeting of Estra S.p.A. approved the Financial Statements at 31 December 2022, and the allocation of net profit for the year.

Acknowledging Estra S.p.A.’s net result for the year, amounting to approximately €23.1 million, the Shareholders’ Meeting resolved to distribute to the shareholders (Alia ServiziAmbientali 39.50%, Coingas 25.14%, Intesa 25.14% and Viva Energia 10%), a total dividend exceeding €11 million.

In the same meeting, the Consolidated Financial Statements and the Consolidated Statement of Non-Financial Information/Sustainability Report were also presented to the shareholders. The 2022 Consolidated Financial Statements reported adjusted revenues of €1,777 million, adjusted EBITDA of €104.5 million and adjusted net profit of €14.1 million. The Consolidated Statement of Non-Financial Information highlights, inter alia, another figure that is key for the local area: goods and services provided, net of the purchase of methane gas and electricity, exceeded €323 million, 60.3% of which was distributed to suppliers located in central Italy.

The Shareholders’ Meeting appointed the following Directors of Estra S.p.A.:
• Francesco Macrì, Executive Chairman;
• Nicola Ciolini;
• Alessandro Fabbrini;
• Daria Orlandi;
• Maria Cristina Rossi.

The Shareholders’ Meeting appointed the following Statutory Auditors:
• Rita Pelagotti, Chairwoman;
• Alessandro Mannelli, standing auditor;
• Athos Vestrini, standing auditor;
• Maria Cristina Biondini, alternate auditor;
• SauroSettesoldi, alternate auditor.

The new Board of Directors met after the Shareholders’ Meeting and proposed that Nicola Ciolini be appointed CEO. It also undertook to promptly proceed with all the necessary amendments to the Articles of Association to introduce the positions of Deputy Chairman and Joint-Director, which it proposed be entrusted to Alessandro Fabbrini and Fabio Cannari. The Board of Directors appointed Alberto Irace General Manager of Estra.

Established in 2010, the Estra Group is among Central Italy’s leading companies in the distribution and sale of natural gas and electricity sales sector. To date, Estra’s four shareholders (Alia, Coingas, Intesa and Viva Energia) represent most of the municipalities in the provinces of Ancona, Arezzo, Florence, Grosseto, Macerata, Pistoia, Prato and Siena. The Estra Group operates through its subsidiaries, joint ventures and related companies mainly in Tuscany, Umbria, Marche, Abruzzo, Molise, Puglia, Campania, Calabria, and Sicily and is active in the distribution and sale of natural gas and LPG, and in the sale of electricity. In addition, it operates in telecommunications, in the planning and management of energy services and in renewable energy production.