ERG to hold fourth quarter and full year 2013 results
The conference call is scheduled for 15.00 Italian time (14.00 UK time) on Wednesday, March 12, 2014.
ERG S.p.A. carries out management and coordination activities with respect to directly and indirectly controlled companies - respecting the managerial and operational autonomy of these companies, which benefit from the advantages, synergies and economies of scale
deriving from inclusion in the Group – represented, in particular, by:
As a result of the extraordinary transactions carried out during the year, currently the directly and indirectly controlled subsidiaries whose operations are managed and coordinated in accordance with Article 2497 et seq. of the Italian Civil Code, within the scope defined above,
are: ERG Renew S.p.A. – and the following companies controlled by it: ERG Eolica Adriatica S.r.l., ERG Eolica Amaroni S.r.l., ERG Eolica Basilicata S.r.l., ERG Eolica Calabria S.r.l., ERG Eolica Campania S.p.A., ERG Eolica Faeto S.r.l., ERG Eolica Fossa del Lupo S.r.l., ERG Eolica Ginestra S.r.l., ERG Eolica Lucana S.r.l., ERG Eolica San Cireo S.r.l., ERG Eolica San Vincenzo S.r.l., ERG Eolica Tirreno S.r.l., ERG Renew Operations & Maintenance S.r.l., Green Vicari S.r.l., Eolico Troina S.r.l., ERG Wind Holdings (Italy) S.r.l., ERG Wind Sardegna S.r.l., ERG Wind Sicilia 2 S.r.l., ERG Wind Sicilia 3 S.r.l., ERG Wind Sicilia 4 S.r.l., ERG Wind Sicilia 5 S.r.l., ERG Wind Sicilia 6 S.r.l., ERG Wind 2000 S.r.l., ERG Wind 4 S.r.l., ERG Wind 6 S.r.l., ERG Wind Leasing 4 S.r.l., ERG Wind Energy S.r.l. –
as well as ERG Oil Sicilia S.r.l., ERG Services S.p.A., ERG Supply & Trading S.p.A., ERG Nuove Centrali S.p.A., ERG Power S.r.l., ISAB Energy S.r.l., ISAB Energy Services S.r.l.
Although ERG S.p.A. has a significant direct or indirect equity investment and, in some cases, a role as majority shareholder in the companies TotalErg S.p.A., Ionio Gas S.r.l. in liquidation, ISAB Energy Solare S.r.l., it does not carry out any management and coordination activities with respect to them, also by effect, in some cases, of the provisions contained in the shareholder agreements entered into with the other shareholders.
In 2013, ERG S.p.A. continued managing the various directly and indirectly owned interests, also via service contracts for staff activities, for a total amount of EUR 9.7 million.
It was also re-charged costs linked to research and development projects amounting to EUR 1.3 million by the Delta Ti Research Consortium.
ERG S.p.A. manages the treasury of some subsidiaries centrally. Transactions are at arm's length.
ERG S.p.A. also manages, as consolidator, the Group's VAT and domestic tax consolidation with the Group's main subsidiaries. In this regard, ERG Renew S.p.A. manages as consolidating entity its own domestic tax consolidation with some companies of the wind power business, whilst ERG Power S.r.l. adheres to the tax consolidation of the parent company San Quirico.
All transactions refer to ordinary operations and are settled at arm's length conditions.
ERG S.p.A. - Genova
Head of Corporate Finance & Investor Relations
0039 010 2401376
ERG S.p.A. - Genova
0039 010 2401423