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.