Edison improves its operating performance thanks to the growth recorded in the electricity and hydrocarbon supply chains.
In the period October-December 2016 the Foro Buonaparte group recorded revenues exceeding 3 billion, an increase of 1,9% thanks to the growth of both the electricity and hydrocarbon supply chains. Ebitda stood at 164 million and compares with 989 million in the 4th quarter of 2015, which however had benefited from the positive outcome of the arbitration against Eni on Libyan gas. The operating loss decreased significantly, from -638 million to -250 million thanks to the absence of the maxi write-downs made by Edison at the end of 2015 for over 1,5 billion. The net loss thus decreased from -749 million to -282 million in the 4th quarter of 2016.
Excellent news also on the net financial debt front as at 31 December 2015, which fell to 1,06 billion from 1,2 billion at the end of September. Guidance for 2017 Ebitda in line with 2016 at around 650 million.
In detail, both the turnover of the electricity sector increased (+5,7% on an annual basis to 1,62 billion) and that of the hydrocarbons sector (+1,8% on an annual basis to 1,67 billion) .
in 2016 the Edison group recorded a net loss of 389 million euros, an improvement from -980 million in 2015, which included non-recurring items of 85 million. This was communicated by the company, whose sales revenues fell to 11,03 billion, from 11.31 billion. Net financial debt decreased, amounting to 1,06 billion at the end of December 2016, from almost 1,15 billion at the end of 2015. The shareholders' meeting will be proposed to carry forward the losses for the year 2016 as the company has no reserves.
Despite the improvement in management data, Edison Savings it lost 5,04% on the stock market at 12,36.
