Profits down for A2A. This was announced in a press release from the energy company owned by the municipalities of Milan and Brescia. Revenues for the first 9 months of 2011 amounted to 4,351 billion, up by over 310 million also due to the effect of the consolidation of the Montenegrin subsidiary Epcg, but net income decreased to 114 million euro from the 436 million achieved in the same period last year.
The decrease is mainly due to the different capital gains generated in the first half of 2010 (Alpiq sale) and 2011 (Metroweb sale) and especially for the result of Transalpina di Energia, the holding company that controls 61,3% of Edison.
The same Montenegrin subsidiary Epcg should record a "significantly" lower performance on an annual basis due to the significant contraction of hydroelectric production and the contraction of tariff levels relating to the April-November period, although a significant increase is expected from the month of December, the press release also explains.
Also taking into account that 2010 will benefit from greater positive one-off effects of around 20 million euro compared to the year under review, the gross operating margin for 2011 should settle on values in decline overall between 5% and 10% compared to 2010.
After the results, stock down on the Stock Exchange: -2,2% in the afternoon.
