Overview
A2A is an Italian multi-utility company operating across energy, circular economy, and infrastructure. Its core activities include power generation and trading, electricity and gas supply, waste collection and recovery, water services, district heating, and electricity and gas distribution. The group reports its activities through Generation & Trading, Market, Circular Economy, and Smart Infrastructures.[1][2][3][4][5][6]
A2A’s activities are centered on Italy. The company describes its purpose as regenerating resources and providing essential services that improve quality of life, supporting decarbonization and a more sustainable future. For the year ended 31 December 2025, it reported revenue of €14.063 billion and 14,959 employees.[7][8][9][10] [1][1][1][1][9][2][3][4][5][6][7][8][10]
Products & services
A2A supplies electricity and gas to residential and business customers, generates electricity from gas, hydroelectric, photovoltaic, wind and oil-fired sources, and operates electricity and gas distribution networks. Its customer solutions include A2A Solar, with optional battery storage, A2A Wallbox home EV charging, and energy-efficiency services for homes, businesses and condominiums. In FY2025, it reported 11,518 GWh of net electricity production, 27.5 TWh of electricity sales and 2.8 billion cubic metres of gas sales.[3][6][11][12]
Its other offerings include district heating and cooling using cogeneration, renewable sources and recovered heat; municipal waste collection and street-cleaning services; waste treatment, material recovery and energy recovery; and water sourcing, distribution, wastewater collection and purification. A2A also provides public lighting, smart-city services such as metering and connectivity, and e-mobility charging services. FY2025 operating measures included 3,132 GWhth of heat-and-cold sales, 1,857 kt of waste collected and 67 million cubic metres of water distributed. Available performance disclosures give business-unit EBITDA rather than revenue shares for individual products or services.[13][14][4][5][15][16][17][12][18] [12][18][3][6][11][13][14][4][5][15][16][17]
Geographic presence
A2A’s operations are concentrated in Italy, particularly Lombardy and northern Italy, with service and infrastructure locations including Milan, Brescia, Bergamo, Lodi, Como and Cremona. Waste collection and street-sweeping services also cover named Lombardy cities, while the company reports urban-waste services in Lombardy and Liguria. Its district-heating networks extend across parts of the provinces of Milan, Brescia, Bergamo, Cremona, Lodi and Monza and Brianza.[19][14][20] Unareti’s electricity and gas distribution networks operate in the Milan and Brescia areas.[6]
In FY2025, A2A reported €683 million of industrial-portfolio revenue generated abroad in the European Community; the disclosure does not identify the countries or provide a complete country-by-country revenue breakdown.[21] This is approximately 5.6% of industrial-portfolio revenue (€12,165 million) and 4.9% of total revenue (€14,063 million).[22] A2A’s registered office is in Brescia and its management and administrative head office is in Milan.[23][7] The Group reported 14,959 employees at 31 December 2025, but the cited company disclosure does not provide a geographic breakdown.[24] [19][14][20][6][21][22][22][23][7][24][14][20][6][23][7][24]
Business segments
A2A’s FY2025 reporting presents five Business Units. Generation & Trading covers thermoelectric, hydroelectric and other renewable plants, and energy management [25][26]. Market focuses on electricity and natural-gas sales, energy efficiency, and electric mobility [27][28][29]. Smart Infrastructures includes electricity grids, gas networks, technology infrastructure for integrated digital services, and public lighting [30][31][32][33]. Circular Economy covers waste collection and street sweeping, processing, disposal and energy recovery, the integrated water cycle, district heating, and heat management [34][35][36][37][38][39]. Corporate provides corporate services [40]. The company states that its Business Units reflect the financial information management and the Board regularly review to manage and plan the Group’s business [41]. In a reorganization, A2A combined the former Waste segment with integrated water, district heating and heat management activities previously within Smart Infrastructures under Circular Economy [42].
Approximate FY2025 contribution to consolidated revenue, calculated by subtracting each unit’s inter-sector revenue from its gross revenue and dividing by consolidated reported revenue of €14,063 million: Market 50.3% (€7,070 million external revenue); Generation & Trading 30.2% (€4,246 million); Circular Economy 13.7% (€1,923 million); Smart Infrastructures 5.7% (€797 million); and Corporate 0.2% (€27 million) [43]. These are calculated shares, not percentages explicitly reported by A2A. [25][26][27][28][29][30][31][32][33][34][35][36][37][38][39][40][41][42][43][43][43][43][43][43][43][43][43][43][43]
Company history
A2A was formed on 1 January 2008 through the merger of municipal utility businesses rooted in Milan and Brescia, including AEM, ASM and AMSA.[44] In 2016, it expanded beyond its original base by completing the acquisition of a 51% stake in Linea Group Holding (LGH).[45][46]
A2A expanded its renewable-energy portfolio in 2018 through acquisitions of solar plants.[47] It then completed the structural integration of LGH: the merger took legal effect on 31 December 2021.[48][49] In 2022, agreements involving wind and photovoltaic portfolios, alongside other renewable-energy acquisitions, continued that expansion.[50][51]
In April 2023, Roberto Tasca became Chair and Renato Mazzoncini was appointed CEO and General Manager.[52] In 2024, A2A announced a 2024–35 strategic plan centered on investment in the circular economy and energy transition, and agreed to acquire Edison’s cogeneration plant in Sesto San Giovanni.[53][54] [44][45][46][47][48][49][50][51][52][53][54]
Sources
- A2A — Presentation (2025 Y)
- www.gruppoa2a.it[2]
- www.gruppoa2a.it[3]
- www.gruppoa2a.it[4]
- www.gruppoa2a.it[5]
- www.gruppoa2a.it[6]
- www.gruppoa2a.it[7]
- www.gruppoa2a.it[8]
- www.gruppoa2a.it[10]
- www.gruppoa2a.it[11]
- A2A — Press release (2025 Y)[12]
- www.gruppoa2a.it[13]
- www.gruppoa2a.it[14]
- www.gruppoa2a.it[15]
- www.gruppoa2a.it[16]
- www.gruppoa2a.it[17]
- A2A — Full financial report (2025 Y)
- www.gruppoa2a.it[20]
- www.gruppoa2a.it[23]
- www.gruppoa2a.it[24]
- www.gruppoa2a.it[44]
- www.gruppoa2a.it[45]
- www.gruppoa2a.it[46]
- www.gruppoa2a.it[47]
- www.gruppoa2a.it[48]
- www.gruppoa2a.it[49]
- www.ardian.com[50]
- www.gruppoa2a.it[51]
- www.gruppoa2a.it[52]
- www.gruppoa2a.it[53]
- www.gruppoa2a.it[54]
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