Edison archive the first semester in the red of 406 million euros, a result that compares with the net profit of 62 million recorded in the same period of 2018. The group explains that the financial statements include “the net loss of 518 million euros from the Exploration and production activities, subject to disposal, which was affected, among other things, by the negative effects as a result of the evolutions that took place in the first half of 2019, in particular on the regulation and in terms of the trend of the Brent and gas market scenario, as well as a portion of goodwill".
The net result from Continuing Operations, ie excluding the E&P divestments, reaches 121 million euros, an increase of 73% compared to the 70 million euros achieved in the first half of last year.
I revenues sales rose by 2,3%, to 4.307 million euros compared to the same period of 2018, benefiting from the good performance of the electricity sector.
EBITDA (Ebitda) recorded an increase of 37,8%, to 328 million euros, from 238 million in the January-June 2018 period.
The operating result (EBIT) instead increased from 98 to 167 million, while the net financial debt it dropped to 298 million from 581 million on January 2019, XNUMX.
“Following the announcement divestment of the E&P businessand recent acquisition in the renewable energy sector and considering the improved performance of the electricity and gas businesses”, Edison revises its Ebitda estimates for the whole of 2019 in a range between 550 and 600 million euros, with an increase of approximately 50 million euros compared to the previous indication, on a like-for-like basis.
