Edison's profit rose in 2013: the energy company closed the past year with a net profit of 96 million euros, up on the 81 million recorded in 2012 (+18,5% y/y). Sales revenues, a note explains, amounted to 12,3 billion (+2,7% y/y), EBITDA was 1 billion (-8,5% y/y), operating profit was 344 million (+50,2% y/y), while the result before taxes is 228 million (77 million in 2012).
Net financial debt at December 31, 2013 amounted to 2.549 million euros, down by 64 million euros compared to the 2.613 million euros at December 31, 2012. With reference to payables falling due in the next 18 months, the company reports that the fixed rate bonds issued in 2009 for a total of 700 million euro of nominal value, and in 2010 for a total of 500 million euro of nominal value will mature respectively on 22 July 2014 and 17 March 2015. In 2013, the Italian demand for electricity decreased by 3,4% compared to the previous year.
The thermoelectric park is being rationalised. Italian gas consumption is also down, which in 2013 recorded a decrease of 6,4% compared to the previous year. The parent company Edison ended 2013 with a profit of 78 million euros (56 million euros in 2012). A unit dividend of 0,05 euro per share will be distributed to savings shares, and a unit dividend of 0,011 euro to ordinary shares. The dividend for savings shares will be paid from 17 April 2014, the same date on which the dividend for ordinary shares will be paid.
The company confirms its recurring ability to generate an EBITDA of 1 billion euros, which may vary according to the price review timing of long-term gas supply contracts. The company is still engaged in the second phase of these price review processes, which are expected to be finalized in 2014/2015. In 2014, net of all effects of the aforesaid renegotiations, the EBITDA is expected to amount to more than 600 million euro. The Board of Directors approved the 2013 report on corporate governance and ownership structures, which forms an integral part of the financial statements documentation, as well as the annual Remuneration Report.
Well the savings shares of Edison, which around 10 am gain 1,15% in Piazza Affari, a 1,052 euro.
