Edison archive 2019 with a red of 479 million euros, which compares with the profit of 54 million realized the previous year. It was above all that determined the net loss the E&P divestment assets, for which a sales agreement was signed last July with Energean Oil and Gas. Net of these items, Edison would have recorded a net profit equal to 98 million euro, up by 5% compared to the normalized 93 million of 2018. revenues they dropped to 8,16 billion.
As for the gross operating margino, in 2019 it stood at 587 million euros, up 38% on the 426 million of the previous year, mainly thanks to the good industrial performance and, in particular, of renewable generation.
“These are good results from continuing operations against a solid financial profile, which has facilitated growth in renewables”, Edison specifies in a note.
THEnet financial debt as at 31 December it stood at 516 million, from 581 as at 2019 January XNUMX.
“The cash generated by the industrial activity together with the working capital optimization actions have allowed Edison to maintain a solid financial profile – continues the note – facilitating its growth in the renewables sector with the acquisition of 292 MW of renewable capacity (wind and photovoltaic) and of the management and maintenance company of these plants".
