ESTRA, the Shareholders’ Meeting approved the Financial Statements at 31 December 2020

The Shareholders’ Meeting of Estra S.p.A. approved the Financial Statements at 31 December 2020, as well as the allocation of net profit for the year, amounting to €9,638,783.

In light of the consolidated results for 2020, the Shareholders’ Meeting (Consiag – Prato 39.50%; Coingas – Arezzo 25.14%; Intesa - Siena 25.14%; Viva Servizi - Ancona 10%) resolved to:

• allocate 5% of net profit to the legal reserve;
• distribute the remaining 95% of net profit as dividend;
• distribute a portion of retained earnings for a total distribution of dividend and reserves amounting to €17,500,000.

The 2020 Consolidated Financial Statements reported €760.7 million revenues, €106.7 million EBITDA and €24.6 million net profit .
In the same Meeting, the Consolidated Statement of Non-Financial Information (pursuant to Legislative Decree No. 254/2016) for the year ended 31 December 2020 was presented to the Shareholders. The Consolidated Statement of Non-Financial Information highlights, inter alia, another key figure for the local area: goods and services provided, net of the purchase of methane gas and electricity, exceeded €258 million, 59.9% of which is distributed to suppliers located in central Italy.

In examining the project for developing a new Tuscan multi-utility entity, the Shareholders’ Meeting acknowledged that the Directors, in their Report on Operations, identified some Estra executives as qualified for contributing to the studying and in-depth analysis phases instrumental to further assessment by the shareholders.

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 (Consiag, Coingas, Intesa and Viva Servizi) represent 139 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. It has also recently began to operate in several segments of the environmental services sector.