- Saras S.p.A.
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Saras S.p.A. 
Type Società per azioni Traded as BIT: SRS Industry Energy Founded 1962 Founder(s) Angelo Moratti Headquarters Sarroch, Italy Key people Gianmarco Moratti (President)
Massimo Moratti (CEO)
Gino Angelo Moratti (Vice President)Products Oil and Natural Gas, Alternative fuel Revenue 
€8.614 billion (2010)[1]Operating income 
€16.074 million (2010)Net income (€9.468 million) (net loss)Total assets €3.893 billion (2010)Total equity €1.220 billion (2010)Employees 1,810[citation needed] Website saras.it Saras Raffinerie Sarde SpA is an Italian energy provider founded in 1962, operating in the area of oil refining and the production of electricity, located in the island of Sardinia.
Contents
History
View of Sarroch; in the background is the refinery and the jetty for mooring tankers
The company was founded in 1962 by Angelo Moratti and is now run by his heirs. The activities of the company have always concentrated in oil refining , which remains the core business of the group and the main production site of the group is the Sarroch refinery, one of six supersites in Europe, situated in a favourable position for the receipt of crude oil and in proximity of the sales of finished products.
According to independent oil analysts WoodMackenzie, based in Edinburgh, the refinery is the one of only six supersites in Europe, with a capacity of 300,000 barrels per day, representing 15% of refining capacity in Italy. In recent years, initially to enable independence of the Sarroch refinery from terms of energy, the group Saras has entered in the production of electricity and is expanding its production of alternative energy sources, particularly in the field of wind energy, through its subsidiaries Sarlux and Sardeolica, the latter of which is controlled indirectly through the company Eolici Ulassai.
To date the Saras group meets more than 30% of the energy needs of Sardinia, with production in 2006 of nearly 4.5 million MWh, of which 157,300 MWh is from wind. Sarlux was born as a joint venture with Enron, but was wholly acquired by Saras on June 28, 2006. The company is listed on the Borsa Italiana (Code ISIN: IT0000433307, Code: SRS, Segment: Blue Chip). In January 2007, the Judiciary launched an investigation against persons unknown on the bid for Public Sale and Exchange which led the company to listing on the Stock Exchange, on complaint of individuals who participated in it; investigations are still ongoing, but the company claims not to have received further communication after the search made in the same month of January.
In 2009, the documentary-film by Massimiliano Mazzotta Oil [2] about pollution and low workers security of the refinery was subject to censorship in italy.
Legal Information and registration
The Sarroch refineryName: Saras Raffinerie Sarde SpA
Registered Office: Sulcitana Strada Statale 195 km. 19 - 09018 - SarrochBoard of directors
- President: Gianmarco Moratti
- Vice President: Gino Angelo Moratti
- CEO Massimo Moratti
- Director: Previati Gabriele
- Director: Angelomario Moratti
- Director Greek Mario
- Director: Callera Gilberto
- Director: Dario Scaffardi
Board in office as at November 16, 2007.
- Angelo Moratti Sapa di Gianmarco Moratti and Massimo Moratti - 62.461%
- Assicurazioni Generali SpA - 5.520% consisting of:
- Banca Generali SpA - 0.171%
- Fata Vita SpA - 0.058%
- Fata Assicurazioni Danni SpA - 0.131%
- Genertel SpA - 0.105%
- INF Agricultural Society SpA - 0.003%
- Genagricola General Agriculture SpA - 0.004%
- INA Assitalia SpA - 1.925%
- La Venezia Assicurazioni SpA - 0.351%
- Intesa Vita SpA - 0.118%
- Agricola S. Giorgio S.p.A. - 0.004%
- Alleanza Assicurazioni S.p.A. - 0.592%
- Augusta Assicurazioni S.p.A. - 0.053%
- Toro Assicurazioni S.p.A. - 0.326%
- Assicurazioni Generali S.p.A. - 1.679%
- BARCLAYS GLOBAL INVESTORS UK HOLDINGS LTD - 2.035% consisting of:
- BARCLAYS GLOBAL FUND ADVISORS - 0.006%
- BARCLAYS GLOBAL INVESTORS NA - 1.027%
- BARCLAYS GLOBAL INVESTORS LTD - 1.002%
Principal investments
Arcola Petrolifera SpA * - Sarroch (CA) - 100%
- Sarlux srl - Sarroch (CA) - 100%
- Sarint SA - Luxembourg - 99.9 %
- Sartec - Saras Ricerche e Tecnologie SpA - Assemini (CA) - 100%
- Ensar srl - Cagliari - 100%
- Parks Eolici Ulassai srl - Cagliari - 70%
- Akhela srl - Cagliari - 100 %
- Associate Research Consortium - Capoterra (CA) - 98.9%
Investments are valued in the balance sheet at December 31, 2006 about 268 million euro.
Financial Data
Budgeting at 31 December 2006, the group Saras is a consolidated investment of about 3.22 billion euros, with a market captalization of about 1.29 billion euros, annual sales of about 6 billion euros and a consolidated net profit of around 395.4 million euros. As for the single parent, the investment amounts to some 1.75 billion euros with a net worth of around 866.5 million euros, a turnover of around 5.6 billion euros and net profit of around 257.6 million euros. At 31 December 2006 the Group employed 1810 employees Saras, whose staff in 1172 to the parent.
References
Sources
- Budget Journal operating and consolidated 31 December 2006 (pdf file 2.4 Mb) Communications
- CONSOB on the shareholders and the relevant administrative bodies of listed companies, found at [website http://www.consob.it Consob]
External links
Categories:- Companies listed on the Borsa Italiana
- Oil and gas companies of Italy
- Power companies of Italy
- Economy of Sardinia
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