The ordinary meeting of Padania Acque was held in the late afternoon at the Fair, with a high participation of the mayors – shareholders (91.82% of the share capital present) representing the 114 municipalities and the Province of Cremona. The 2023 financial statements approved unanimously show a net profit of 4 million euros, a gross operating margin of over 28 million, up by almost six percentage points compared to the previous year, and almost 30 million euros of investments.
The outgoing board of directors, which had expired and will remain in office for the next three years, therefore until 2027, has been confirmed: president is Cristian Chizzoliprofessor of the marketing department of Bocconi University, in the role of President; Alessandro Lanfranchidirector and designated CEO; Bruno Paggimanager and entrepreneur from Crema, Luana Pirolifrom Cremona and General Manager in the healthcare sector, e Francesca Scudellarilawyer from Cremona, advisors of Padania Acque.
The controversies that had anticipated this vote are therefore dormant, at least for the moment, with the Democratic Party having proposed a sort of extension of the current Board of Directors for a period of time sufficient to guarantee the continuity of governance in view of important deadlines, but so as to be able to then appoint a new administrative body that would take into account the outcome of the elections in the Municipalities and in the province.
«During 2023 – explained the President Cristian Chizzoli – the strategic and operational development lines were implemented through correlated economic, financial and organizational growth.
The objectives of this Board of Directors, in compliance with the recommendations of the Members, have been pursued with the commitment of everyone, directors and employees of the company, paying particular attention to the environment, the quality and conservation of the water resource . The overall investments made, equal to almost 30 million euros, for works envisaged in the Area Plan and ancillary works, were aimed at the sustainable development of our territory, contributing to expanding, renewing and making the infrastructure functional to the provision of the Integrated Water Service more efficient”.
The Assembly continued with the intervention of the CEO Alessandro Lanfranchi who, after underlining the important results of the first 10 years of single management of the Integrated Water Service, illustrated in particular the main results achieved in 2023, the year of celebration of the 70 years of foundation of the company: «In line with the mandate of the mayors we have completed the acquisition of the business unit of ASM Pandino Srl, thus completing the complex process of unification of the water assets of the companies in the Province of Cremona. The exercise was marked by a notable push towards the realization of the planned and banked works: Padania Acque has invested heavily in the territory by carrying out interventions for the digitalisation and efficiency of water processes, works and infrastructures with a level of investment per inhabitant equal to approximately 85 euros, in line with the European average and 23% more than the Italian one (Source: Blue Book 2024 Utilitalia). Last but not least, we remember the important financing of 3.5 million euros granted by the Ministry of the Environment and Energy Security through the National Recovery and Resilience Plan for the creation of a new sludge drying section at the Cremona purification plant, with the aim of reducing the quantities of sludge disposed of”.
The general director Stefano Ottolini commented on the important balance sheet results and management data which mark further progress in the industrial development of Padania Acque. «The added value generated, equal to 39 million euros – up by +5.40% compared to 2022 – and the increase of over 1.5 million euros in the gross industrial margin (+5.8%), are decidedly positive numbers and which compared to last year highlight a clear improvement in the operational management of the company. The balance sheet assets stand at 329 million euros, an increase of 7.2 million compared to the previous year, and the stability of the financial indicators represents a situation of balance that guarantees a solid basis for future developments”.
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