Abbanoa expects operating profit of 3.4 million euros in 2025.
The shareholders' meeting is scheduled for Thursday. The agenda includes the budget, renewal of the concession agreement, and confirmation of public management of the integrated water service.(Handle)
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Water utility Abbanoa closed its 2025 financial statements with an operating profit of €3.41 million and net assets of €343.7 million.
This is what emerges from the company's financial management, which will be discussed at the shareholders' meeting on Thursday the 23rd in Cagliari, when the renewal of the contract and confirmation of public management of Sardinia's integrated water service will also be discussed.
Last year, the company also set an all-time record with investments in infrastructure efficiency, reaching €136.3 million.
A total of 723 projects worth over €1 billion have been planned for the current regulatory period (2024-2029): 51.4% from tariff funds (bill revenues) and 48.6% from public funding. The extraordinary session of the shareholders' meeting will include several agenda items related to the repayment of the state aid granted, through the Region, in 2012 for the then-current rescue of the company.
With the approval of these points, the concession to provide Abbanoa with water services remains in effect, confirming public management. "There will be no impact," Abbanoa explains, "on the municipalities, which, on the contrary, will have a much greater shareholder weight. Nor will there be any impact on tariffs, much less cuts in investments. The entire operation is being carried out with funds that Abbanoa has set aside in its accounts." The total amount is approximately €230 million, corresponding to €187 million in state aid plus interest accrued up to the repayment date. For the shareholder municipalities, the operation does not entail any financial outlay or changes in direct shareholdings. The Region's share in Abbanoa's capital will be reduced to below 20%, with a consequent proportional increase in the participation of the shareholder municipalities.
"If the shareholders' meeting fails to approve the plan," it is emphasized, "the company would still be required to repay the state aid to the Region, with a direct impact on the 2026 financial statements and a financial loss that would be borne by all shareholders, including the municipalities, in proportion to their respective shares."
(Unioneonline/lf)