Edison closed the first quarter of 2012 with a net loss of 51 million, more than double the loss of 20 million recorded in the same period last year. THE revenues they amounted to 3.121 million euro, an increase of 13% compared to the 2.763 million realized between January and March 2011. Ebitda at 160 million, it is in line with the first quarter of 2011 (163 million euros). For 2012, the group expects an Ebitda of 1.100-1200 million. In the early afternoon, the company's stock traded in the red by 0,12%, while the Ftse Mib was positive by 1,63%.
“In a complex context – underlines the group in a note – Edison managed to achieve results in line with forecasts, coping with the structural difficulties caused by the economic situation and enhancing the good performance of the hydrocarbons chain, which more than doubled its its operating performance to 77 million euros from 27 million in the first quarter of 2011. Edison today produces 50 barrels of oil equivalent per day and has hydrocarbon reserves of approximately 360 million barrels of oil equivalent”.
Net financial debt as at 31 March 2012 it amounted to 4.028 million euros, compared to 3.884 million recorded at the end of 2011. The values for 2011 and 2012 were calculated excluding the contribution of Edipower, a company that will be sold to Delmi starting on the first of July. The company specifies that the sale of the investment in Edipower will make it possible to improve Edison's net financial debt by approximately 1,1 billion euros.
