Edison closes q1 with revenues of €2.8 billion and ebitda showing strong growth at €229 million
Net result of -€19 million euros, in progress compared to -€76 million in first-quarter 2016.
Net financial debt for the first time below 1 billion euros (934 million), confirming the company’s financial soundness.
Milan, 05 May 2017 - The Edison Board of Directors met today, examining the Quarterly Report at March 31, 2017, which closed with a significant increase in EBITDA thanks to the good performance registered by all business areas. The increase in demand and prices of gas and electricity, coupled with the contribution made by the new business area devoted to energy and environmental services, which as from April 2016 includes the results of Fenice, made for a great improvement in the company’s industrial performance during the quarter. The €19 million net loss (-€76 million in the same period last year) is affected by the volatility of commodities and currency hedges.
The Quarterly Report reflects the new consolidation scope which includes Fenice (an energy efficiency and environmental services company that has been consolidated since 1 April 2016), Cellina Energy (resulting from the exchange of Edison’s investments in Hydros and SelEdison with Alperia’s investment in Cellina Energy, the company that owns the hydroelectric station on the Cellina River and has been consolidated on a line-for-line basis since 1 June 2016), IDREG’s hydroelectric activities (acquired in May 2016) and the investments in Comat and Assistenza Casa, which, having been taken over in March 2017, have a limited impact on the quarter.
Please note that, despite the fact that the law has eliminated the obligation to publish the Quarterly Report, the company has opted, in line with past choices, to provide the market with voluntary quarterly consolidated information, more concise and focussed on its business performance.