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Heat and Services

The Heat and Services Sector includes the activities of cogeneration, district heating and the sale of heat, as well as other activities related to the heat management and facility management services. The activities include:

  • Cogeneration and District Heating: production, distribution and sale of heat, production and sale of electricity, operation and maintenance on the cogeneration plants and district heating networks;

  • Heat and other services: management of heating plants owned by third parties and facility management.

2011 Results

The increase of the margin of the Heat and Services business by 15 million euros can essentially be attributed to the commercial development in the district heating sector, the positive trend of the management of heating plants owned by the end customer and the recognition of energy efficiency certificates regarding initiatives set up in previous years. These positive effects were only partially offset by those deriving from the mild seasonal temperatures. The good performance of the French subsidiary Coriance also contributed to the result.

The investments during the period was equal to about 96 million euros, mainly related to extraordinary maintenance and development on district heating networks (35 million euros) and cogeneration plants (22 million euros) in Milan, Brescia, Bergamo and Varese areas, as well as the development expenditure by the Coriance Group (39 million euros).

HEAT AND SERVICES - FINANCIAL HIGHLIGHTS 
(million euros)20112010
Revenues 397 367
EBITDA 85 70
Depreciation, Amortization and Writedowns -48 -54
EBIT 37 16
CAPEX 96 69
  - Italy 57 61
  - Coriance (France) 39 8
Tangible assets 471 465
Intangible assets 163 118
OPERATING DATA
2011 2010
Heat production (GWht)  1,626 1,738
Heat sold (GWht) 2,874 3,038
Electricity production from cogeneration (GWh) 602 574