Erg closed the first quarter of 2016 with a net result of 57 million euros, up 68% compared to the 34 million euros of the same period of 2015.
THEconsolidated EBITDA at current values it settled at 163 million euros, up from 111 million in the first quarter of 2015 thanks above all to the wind division which recorded an ebitda of 117 million euros from 106 million in the same period of 2015.
Net operating profit at replacement cost was also up at €99 million after depreciation and amortization of €64 million (up from €41 million) and core business revenues which rose to €295 million from €275 million in the first quarter of 2015, following the significant increase in Italian wind and thermoelectric production, the contribution of the new operational wind capacity in France, Germany and Poland, as well as the contribution of the newly acquired hydroelectric nucleus.
Thenet financial debt, which rose to 1,741 billion, 294 million more than at 31 December 2015 due to the acquisition of the French and German wind farms from the Impax group (293 million euros) and the initial investment to enter the United Kingdom (13 million euros ).
"The results for the first quarter show strong growth", declared the CEO, Luca Bettonte, "and are decidedly satisfactory both for the greater windiness recorded compared to last year and, above all, for the full contribution of the over 900 MW of new power installed and acquired in the last twelve months”.
The positive results recorded by the group boost the Erg stock, which currently gains 1,44% on Piazza Affari against a rise in the Ftse Mib of 0,3%.
