Revenues at 10 billion euros, EBIDTA up 33% at 829 million euros and profit down 7% at 187 million euros. Strong negative impact due to the delay in LNG deliveries from the U.S.
Milan, July 26, 2023 – Edison’s Board of Directors met yesterday and reviewed the Semiannual Report at June 30, 2023, which shows a solid operating performance across all businesses.
In the first half of the year, EBITDA rose to 829 million euros (+33.3%) from 622 million euros in the first half of 2022. The growth was driven by an increased contribution of Gas&Power sales in the end customers market, after a difficult 2022, of renewable energy generation (+9%), and of Edison Next’s energy and environmental services.
Edison Group closed the first half of 2023 with a net profit of 187 million euros compared to a net profit of 201 million euros in the first half of 2022, also due in particular to expenses attributable to territorial regeneration activities on the ex-Montedison sites. These overall results were also affected by a strong negative impact deriving from the delay in the LNG deliveries from the United States, which led the Company to start an arbitration dispute.
Financial debt at June 30, 2023 stood at 191 million euros compared to 477 million euros at December 31, 2022, thanks to a strong operating cash-flow that will allow the Group to further strengthen its position in the energy transition businesses.
EDISON GROUP HIGHLIGHTS
| in millions of euro | 6 months 2023 | 6 months 2022 |
|---|
| Sales revenues | 9,973 | 13,222 |
| EBITDA | 829 | 622 |
| EBIT | 310 | 407 |
| Net Profit from Continuing Operations | 223 | 228 |
| Net profit of the Group | 187 | 201 |
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