Gruppo CAP 2024 Consolidated Financial Statements at a glance
- Turnover: €525,073,305
- Net profit: €83,082,775
- EBITDA: €160,904,150
- Investments: €137.87
- Energy costs: €40,471,651
- GHG emissions: location based: 221,520 tons CO2 eq.; market based: 164,004 ton CO2 eq.
Gruppo CAP has approved its 2024 economic and financial results which confirm a significant development trend. The green public utility that manages the integrated water service of the Milan metropolitan City in 2024 recorded a growth by 27% compared to 2023, with €525 million revenue and more than €83 million net profit, up sharply from the previous year (€12.5 million).
The value of investments in the local area is also on the rise and has reached the highest level ever recorded by the company, with €137.87 million employed to support the local communities in the green transition and improve their resilience. EBITDA reached €160.9 million, up from €110.6 million in 2023 (+45%), reflecting the solid operating performance recorded during the year.
Important results have also been achieved in terms of reducing consumption thanks to energy efficiency measures and increased self-production. In fact, following the activation of new photovoltaic plants in 2024, Gruppo CAP has self-produced almost 38 thousand MWh of energy entirely from renewable sources (+41% compared to 2023). Electricity costs stood at almost €40.5 million, down 23% compared to 2023.
2024 Consolidated Sustainability Reporting
Gruppo CAP is actively engaged in the transition to low-emission energy sources and implements innovative and sustainable solutions. Electricity is crucial for the water sector and is one of the main levers of decarbonisation. In 2024, Gruppo CAP self-produced almost 38,000 MWh of energy entirely from renewable sources, significantly reducing its dependence on fossil fuels. With this in mind, at the end of 2023, CAP joined the Science Based Target initiative (SBTi), committing to reducing greenhouse gas emissions in line with the latest scientific standards:
-42% of direct emissions and emissions related to electricity, steam or heat consumption (Scope 1 and Scope 2) and -25% of indirect emissions related to the value chain (Scope 3) by 2030, compared to 2021. In 2024, location-based emissions totalled 221,520 tonnes CO2 eq., a reduction of -7.4% compared to 2023 (Scope 1: 89,780; Scope 2: 46,602; Scope 3: 85,138). Market-based emissions also decreased year-on-year by 6.3% to 164,004 tonnes CO2 eq. (Scope 1: 89,780; Scope 2: 7,599; Scope 3: 66,625). This commitment also resulted in the renewal of the ISO 14064-1 certification for 2024, the international standard for greenhouse gas emissions reporting.
In parallel, CAP continues to invest in human capital, promoting policies for its enhancement, respect and inclusion. In contrast to the national trend, at Gruppo CAP the average remuneration of women is slightly higher than that of their male colleagues (+€0.20), which confirms the Group's vision of gender equity and social sustainability.
The Consolidated Report, including the consolidated financial statements and the consolidated sustainability report, will be approved on 12 June by the Shareholders' Meeting of CAP Holding Spa, pursuant to Legislative Decree 125/2024. In detail, in 2024 total revenues amount to €525,073,305, mainly consisting of revenues from water service charges and restoration of the value of assets under concession, while net profit is €83,082,775 and assets are €1,499,941,322.