At the halfway point of 2011, A2A closed the accounts in a disappointing way. In the interim report published today by the Milanese utility, the contraction in profits stands out above all, collapsing by 67,65%, from 371 to 120 million euros. The company explains the negative result with "the different capital gains generated in 2010 and 2011 following the sale of the shareholdings (respectively Alpiq and Metroweb)".
The net operating result is down by 3,9%. Good news on the other hand on the revenues front, which grew by 6,7%, to three billion euros. The same applies to the gross operating margin, up 1,5% to 477 million euros. On the other hand, net financial indebtedness decreased by 135 million euros in the January-June period, remaining however very high (3,758 billion).
As for the forecasts for the coming months, "in the second half of 2011 - writes A2A - the by now structural situation of difficulty will be confirmed in the electricity and gas sectors which present a situation of significant imbalance between production capacity (or import) and the level of domestic demand. In terms of industrial performance, the good performance of the Environment sector and of the Heat and Services sector will contribute to partially offset the contraction in the results of the Energy sector”.
In the middle of the session, the A2A share was in positive territory in Piazza Affari, gaining 2,81%, to 0,987 euro.
