A2A closed the first nine months of the year with a group net profit of 226 million, down 30% compared to 323 million at September 30, 2016, due to the effects of the exercise of the put option on the Epcg (negative for 93 million). Net income from ordinary activities amounted to 319 million (+14%).
EBITDA amounted to 888 million, up by +2% compared to 30 September 2016 (+7% excluding non-recurring items). Revenues rise by 22,4% to 4.26 billion.
The net financial position increased to -3,252 billion, reflecting the effects deriving from the full deconsolidation of the EPCG group and from the acquisitions, partially offset by the good cash generation. Investments in the nine months amounted to 271 million, up 16%.
For the whole of 2017, A2A expects a group EBITDA of approximately 1,2 billion, up on what was communicated in the previous guidance, mainly thanks to the expected performance in the Generation and Trading Business Unit.
"The excellent results achieved in the first 9 months of 2017 and the continuation of favorable conditions in the reference energy market - reads a note from the Lombard multiutility - allow us to look optimistically at the economic results at the end of the year".
The result relating to the net financial position expected for the end of 2017, explains A2A, "will be positively influenced by the generation of free cash flow expected from ordinary activities (approximately 100 million) but will suffer the increasing effects deriving from the exclusion from the scope of consolidation integral part of the Epcg group already highlighted in the previous guidance (equal to a positive net financial position of 206 million at 30 June 2017), and from the first consolidation of the net financial position of the acquired companies operating in the renewable energy sector (34 million at 30 September 2017 ), in addition to the acquisitions of October (about 40 million) and those that will potentially be completed by 31 December 2017".
