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A2A and stock exchange indices

A2A ON THE STOCK EXCHANGE € million
Average capitalisation in 2011 3,058
Capitalisation at December 31, 2011 2,276
Average volume in 2011 9,568,904
  Euro per share
Average price in 2011 0.976
Maximum price in 2011 1.178
Minimum price in 2011 0.694
DEBT RATING
Agency Current
Standard & Poor’s Medium/long-term rating BBB+*
  Short-term rating A-2
  Outlook Negative
Moody’s Medium/long-term rating Baa1
  Outlook Negative
*On April 5, 2012 Standard & Poor’s revised its medium/long-term rating to BBB
PERFORMANCE OF THE A2A SHARE DURING 2011

Performance of the A2A share during 2011

COMPARISON A2A - FTSE MIB

Comparison A2A - FTSE MIB

The factors affecting the performance of the share were mainly of a negative nature connected with the macro-economic situation:

  • economic crisis

  • negative performance of the stock markets

  • country risk (downgrading of Italy’s public debt)

  • an electricity sector under pressure.

Company-specific factors on the other hand were:

  • high level of dividends

  • high level of debt

  • lengthening of negotiations for the reorganisation of Edison.