Ascopiave

Earnings Release • Mar 15, 2020

Informazione Regolamentata n. 0887-42-2020		Data/Ora Ricezione 15 Marzo 2020 18:16:33	MTA - Star
Societa'	:	ASCOPIAVE S.P.A.
Identificativo Informazione Regolamentata	:	128829
Nome utilizzatore	:	ASCOPIAVEN01 - Rossetto Irene
Tipologia	:	1.1
Data/Ora Ricezione	:	15 Marzo 2020 18:16:33
Data/Ora Inizio Diffusione presunta	:	15 Marzo 2020 18:16:34
Oggetto	:	statement reported in the press release the results for the year 2019)	Amendment of the consolidated income published on March 13th 2020 (approval of
Testo del comunicato

Vedi allegato.

PRESS RELEASE

ASCOPIAVE: Amendment of the consolidated income statement reported in the press release published on March 13th 2020 (approval of the results for the year 2019).

It should be noted that the consolidated comprehensive income statement scheme published on page 14 of the Italian version of the press release issued on March 13th, 2020, although correctly reporting the balances of the items represented, was not complete, failing to highlight, due to a bare clerical error, the " Net result from transfer/disposal of assets ".

On the other hand, the English version of the same press release did not include the footnote with the description of how the earnings per share are calculated.

The income statement scheme, highlighting the aforementioned information, is shown below. This scheme, including the explanatory note, replaces the previously published one:

Consolidated statement of comprehensive income

	Full Year
(Thousands of Euro)	2019	2018
Revenues	124,911	115,347
Total operating costs	80,013	73,354
Purchase costs for other raw materials	1,358	1,271
Costs for services	31,732	28,766
Costs for personnel	14,500	16,125
Other management costs	33,902	27,548
Other income	1,479	355
Amortization and depreciation	23,325	20,927
Operating result	21,573	21,066
Financial income	142	147
Financial charges	1,259	1,160
Evaluation of subsidiary companies with the net equity method	648	1,407
Earnings before tax	21,105	21,460
Taxes for the year	6,626	6,733
Result of the year	14,479	14,727
Net result from transer/disposal of assets	478,737	31,773
Net result for the year	493,216	46,499
Group's Net Result	493,216	44,625
Third parties Net Result	0	1,874
Consolidated statement of comprehensive income
1. Components that can be reclassified to the income statement
Fair value of derivatives, changes in the period net of tax	(98)	(0)
2. Components that can not be reclassified to the income statement
Actuarial (losses)/gains from remeasurement on defined-benefit obligations
net of tax	(124)	24
Actuarial (losses)/gains from remeasurement on defined-benefit obligations
net of tax of the companies held for sale	(0)	(13)
Total comprehensive income	492,994	44,230
Group's overall net result	492,994	42,591
Third parties' overall net result	0	1,639
Base income per share	2.202	0.200
Diluted net income per share	2.202	0.200

Earnings per share are calculated by dividing the net income for the period attributable to the Company's shareholders by the weighted average number of shares net of own shares. For the purposes of the calculation of the basic earnings per share, we specify that the numerator is the economic result for the period less the share attributable to third parties. There are no preference dividends, conversions of preferred shares or similar effects that would adjust the results attributable to the holders of ordinary shares in the Company. Diluted profits for shares result as equal to those for shares in that ordinary shares that could have a dilutive effect do not exist and no shares or warrants exist that could have the same effect.

Ascopiave Group is one of a leading national operator in the natural gas distribution industry. The Group holds concessions and direct assignments to manage the business in 268 Municipalities, providing the service to approximately 775,000 users through a network of over 12,000 kilometres. Ascopiave is also a partner of Hera Group in the marketing of gas and electricity, and holds a 48% stake in Estenergy, a leading operator in the industry with a portfolio of over 1 million sales contracts to end users, above all in Veneto, Friuli Venezia Giulia and Lombardy regions. Ascopiave has been listed on the Star segment of Borsa Italiana since 12 December 2006.

Contact: Community Group Ascopiave Giuliano Pasini Tel. 0438 / 980098 Tel. 0422 / 416111 Cell. 335 / 1852403

Auro Palomba Roberto Zava - Media Relator Cell. 335 / 6085019 Giacomo Bignucolo – Investor Relator Cell. 335 / 1311193

Pieve di Soligo, 15 March 2020