Q1 2020 EBITDA at 331 million euro (328 million euro in Q1 2019) Group net profit 112 million euro, up 8% on the first quarter of the previous year (104 million euro at 31 March 2019)
Investments made during the quarter for 123 million euro, up 13% on March 2019
NFP at 3,297 million euroExcluding the change in scope, NFP came to 3,157 million euro, substantially in line with the NFP at end 2019 (3,154 million euro)
*****
Milan, 12 May 2020 – At today’s meeting of the Board of Directors of A2A S.p.A., chaired by Giovanni Valotti, the Board examined and approved the quarterly information as at 31 March 2020.
The first quarter of 2020 was characterised by the onset of the COVID-19 emergency, which, starting March, has had a major impact on the world’s financial and economic framework. The economic/financial results of the first quarter have been affected by both the weak energy scenario already seen starting the fourth quarter 2019, and the initial effects directly relating to the medical emergency. Despite the context characterised by a decline in the demand and very critical pricing dynamics, results were in any case satisfactory.
As regards the national energy scenario, the net demand for electricity in Italy during the first quarter of 2020 was 76,978 GWh, showing a decline of 4.5% on the volumes recorded for the same period of 2019; during the same period, the demand for natural gas dropped by 6.5% on the same period of 2019, coming in at 23,876 Mcm.
During the first quarter of 2020, moreover, the decreasing trend in the prices of commodities already in progress was worsened by the outbreak of the medical emergency: the PUN baseload showed a decline of 33.4%, coming in at € 39.6/MWh, as compared with the € 59.4/MWh booked for the first quarter of 2019; average prices are down, even for the price during peak load hours (-31.3% for the PUN peak load, which comes in at € 44.9/MWh). As concerns the gas at the PSV, the average price during the first quarter 2020 was € 11.3/MWh, down 45.5% on the first quarter of the previous year.
During the period, the A2A Group took action to limit the impacts of the medical emergency as much as possible, taking all preventive steps necessary to guarantee the health and safety of its employees, enabling business to continue and work to be carried out with the extension, insofar as organisationally possible, of smart working.
