The A2A S.p.A. Board of Directors has examined and approved the Interim Report on operations at 31 March 2016

Net Profit shows strong growth (+35.0% to 158 million euros) thanks to the benefits deriving from the Edipower demerger Ordinary Net Profit at 113 million euros (117 million euros during Q1 2015), basically stable despite the deterioration of the energy scenario EBITDA at 314 million euros (-6.8%), penalised by the Generation and Trading Business Unit due to the major deterioration of the energetic scenario
The Net Financial Position, amounting to 2,877 million euros, was down by a further 20 million euros compared to 31 December 2015

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Milan, 12 May 2016 – At today’s meeting of the Board of Directors of A2A S.p.A., chaired by Mr. Giovanni Valotti, the Board examined and approved the Interim Report on operations at 31 March 2016.
The first quarter of 2016 saw an energy and climate scenario that was particularly penalising, characterised by a downturn to the demand for electricity and gas on a national level (respectively -1.5% and -0.4%); by a considerable, generalised reduction in commodity prices (oil -36%; gas - 40%; PUN Baseload -24%); and by a winter that, albeit only slightly, was milder than last year’s and had less rainfall, resulting in reduced hydroelectric production.
Despite the unfavourable scenario resulting in a reduction to EBITDA of around -6.8%, to 314 million euros, the Group in any case achieved very satisfactory results that were in line with expectations, booking “Ordinary” Net Profit of 113 million euros, excluding extraordinary items, basically in line with last year (117 million euros) and a further reduction to the Net Financial Position of 20 million euros, to 2,877 million euros, despite the outlay associated with the buyback of own shares (37 million euros).

“Reported” net profit of 158 million euros are up 35% on the first three months of last year, benefiting from the positive effects of the partial, non-proportional demerger of Edipower with the assignment of the complex comprising the hydroelectric plants of the Udine unit (apart from Ampezzo and Somplago) and its associated assets and liabilities, in the favour of Cellina Energy S.r.l. (a full subsidiary of Società Elettrica Altoatesina – SEL S.p.A), with effect as from 1 January 2016.