The A2A group has disclosed the data relating to the first quarter of 2012 which closed with a net profit of 76 million, down compared to the 85 million reached in the same period of 2011.
The contraction was determined by the negative effect, “exclusively for accounting purposes”, associated with the recognition at fair value of a bond maturing in 2013. Net of this effect, the profit for the period would have been equal to 88 million euros.
The net financial position of the utility as of March 31st was equal to 3.954 million, down on the end of 2011 by 67 million.
The volume of business grew by 12% to approximately 2 billion, while the gross operating profit remained substantially unchanged at 271 million. The net operating profit also grew by 25%, rising to 183 million.
As regards the estimates for the current year, the company believes that the consolidation of Edipower, expected at the end of May, the further commercial development in the district heating sector, the improvement in the results of the subsidiary Epcg, lead us to forecast a progressive improvement in the gross operating profit compared to that of 2011.
