Padania Acque members’ meeting yesterday afternoon (Thursday 9 May) at Cremona Fiere. Convocation at 5pm, start at 5.32pm, members representing 91.82 of the share capital present. Four points on the agenda.
First: examination and approval of the 2023 financial statements, management report, report of the board of auditors and allocation of the profit for the year: related assessments and resolutions.
Second: report from the chairman of the advisory committee.
Third: appoints administrative body.
Fourth. Miscellaneous.
No problem on the first and second points. Problems regarding the appointment of the Board of Directors, which, more usually, required a ten minute suspension. Already seen film three years ago.
Some mayors, especially from the Cremonese centre-left, in line with the theory of political ethics and common sense, supported in recent weeks by the former parliamentarian Luciano Pizzettithey would have preferred a temporary and not three-year confirmation, as per the statute, for the resigning board of directors.
The supporters of an early appointment did not object to the results obtained by the resigning board of directors, but reasoned that the imminence of the local elections and the consequent change of many mayors recommended a transitional solution.
The suspension was requested by the mayor Stefano Belli Franzini. During the break Mirko Signoroni carried out a survey among those present and noted that the majority was in favor of respecting the statute. At the end of the time-out, Signoroni asked to speak and said that it would continue for three years. Of note is the intervention of the mayor of Stagno Lombardo, Roberto Mariani. He cited common sense and appreciated the work done by Padania Acque in recent years. And without controversy he informed that he would not vote so as not to ruin the unanimity. Simona Pasqualicouncilor of the Municipality of Cremona, declared herself in favor of the time extension, but accepted the majority’s choice.
We voted and surprisingly the unanimity was broken by the abstention of Angelo Scarpellimayor of Sergnano.
The Board of Directors saw the reconfirmation of the president Cristian Chizzoli, Alessandro Lanfranchi director and designated managing director, then the directors Bruno Paggi, Luana Piroli And Francesca Scudellarthe.
Only positive notes on the balance sheet with data that would make investment funds happy if the company were listed on the stock exchange. A net profit of 4 million euros, a gross operating margin of over 28 million, which grew by almost six percentage points compared to 2022, and almost 30 million euros of investments.
Chizzoli explained: «During 2023, the strategic and operational development lines were implemented through related economic, financial and organizational growth. 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”.
Lanfranchi covered the last years of the company’s history and reeled off a series of data that highlighted the company’s notable growth. «Padania Acque has invested heavily in the territory creating – he underlined – interventions for the digitalisation and efficiency of water processes, works and infrastructures with an investment level per inhabitant of around 85 euros, in line with the European average and 23% more than the Italian one. 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 construction of a new sludge drying sector at the Cremona purifier, 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 numbers decidedly positive and which compared to last year show 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”.
