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Consolidates companiesNon-consolidates
Acque SrlMarged with and into Marche
Multiservizi Spa
Energonut SpaLine-ny-line consolidation
Feronia SrlLine-ny-line consolidation
Hera Servizi CimiterialiLine-ny-line consolidation
Sviluppo Ambiente Toscana SrlLine-ny-line consolidation

On 31 December 2012, Acque S.R.L. was merged with and into Marche Multiservizi S.p.A..The merger took effect on 1 January 2012and did not result in acapital increase by the acquiror.

On 3 October 2012 Herambiente S.p.A. acquired Energonut S.p.A. from Veolia Servizi Ambientali S.p.A.. The company owns a waste-to-energy plant located in Pozzilli (Isernia) whose output is sold in the market. The effects of the purchase price allocation are described in the summary table.

On 31 January 2012 Herambiente S.p.A. acquired from Sorgea S.r.l. an additional 30% of the share capital of Feronia S.r.l., taking its stake to 70%.The investment in this company, which was previously measured with the equity method, is now consolidated on a line-by-line basis. This acquisition had a modest impact on the consolidated financial statements in terms of acquired net assets (Euro 2,728 thousand) and cash outlays (Euro 1,500 thousand). On first-time line-by-line consolidation, non-controlling interests were attributed Euro 523 thousand.

Hera Servizi Cimiteriali S.R.L., a company established on 22 December 2010, commenced operations following Hera S.p.A.s spin-off of its cemetery and funeral home assets. Following this action, the company, which was previously recognised at cost, is now consolidated on a line-by-line basis.

On 7 February 2012, Hera S.p.A.and Herambiente S.p.A. established Sviluppo Ambiente Toscana S.R.L., of which they own 95% and 5%, respectively. As it became operational this company is now consolidated on a line-by-line basis.

Jointly controlled entities

Consolidate companiesNon-consolidated
FlameEnergy Trading

Consolidated with the equity method

FlameEnergy Trading Gmbh. Starting October 2011, following a substantial reduction of its business, this company was deconsolidated and the investment in it was recognised with the equity method.