The company has increased its forecast for 2021 EBITDA to a range of 710 e 770 million euros.
Milan, May 12, 2021 - Edison’s Board of Directors met yesterday and examined the Quarterly Report at March 31, 2021, which closed with a solid growth in all items of the financial statements as compared with the same period of 2020.
Revenues grew in double figures (+17% to 2.1 billion euros), driven mainly by the increase in prices and sales volumes. The rise in EBITDA is even more significant, recording growth of 34.8% during the period, to 252 million euros, mainly thanks to the contribution of Electric Power Operations, which benefited from the increased generation of energy from renewables, the recovery of thermoelectric production and the good performance of the production portfolio optimization. The contribution made to the Business Segment by both sales to residential customers and the energy and environmental services business was also positive. Gas activities performance remained almost stable.
The group ended Q1 2021 posting a profit: 98 million euros as compared to the loss of 10 million euros in Q1 2020 as a result of the trend described above and less net expenses linked to the E&P business that has now been disposed of. Net income from Continuing Operations1 has more than doubled to 98 million euros from 46 million euros in Q1 2020.
Net financial debt at March 31, 2021 stood at 545 million euros, from 513 million euros at December 31, 2020 and included the purchase of 70% of E2i Energie Speciali, the leading operator in the wind power sector in Italy, already fully consolidated, and the sale of the E&P business in Norway.
HIGHLIGHTS GRUPPO EDISON
| in millions of euros |
3 months 2021 |
3 months 2020 |
|---|
| Sales revenues |
2.131 |
1.821 |
| EBITDA |
252 |
187 |
| EBIT |
144 |
112 |
| Net profit from continuing operations |
98 |
46 |
| Group interest in profit (loss) |
98 |
(10) |
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