Edison ended the first quarter with a gross operating margin of 172 million (triple compared to 51 million in the same period of 2015) thanks to the positive conclusion of the arbitration for the gas supply contract from Libya which allowed the recovery of margins in gas sector.
Revenues fell slightly to 3,026 billion while the net result, a loss of 76 million euros (loss halved compared to -153 million in the first quarter of 2015), "mainly affected by the volatility of commodity prices and related hedging activities". The turnover, on the other hand, took advantage of “the good performance of the hydrocarbons chain which benefited from the increase in sales of both oil and gas”; stable net debt at 1,147 billion.
The forecast for the full year is for an Ebitda of approximately 650 million euros, including the contribution of Fenice, of approximately 60 million, for nine months. On the gas front, on the other hand, "the second cycle of renegotiation on supplies, which closed at the end of 2015, made it possible to bring the margins of the trading activity back to a reasonable level".
