Iren closes 2012 with a profit. The multi-utility of Turin, Genoa, Reggio Emilia, Parma and Piacenza had closed 2011 with a loss of 110,9 million euros and is now leaving 2012 behind with a net profit of 152,6 million euros. Losses in 2011 were mainly attributable to write-downs following the Edison/Edipower reorganization.
The coupon is growing which for this year will be equal to 0,0523 euro per ordinary share (0,0130 euro the previous year) to be paid on 3 July 2013. Net financial debt is equal to 2.555 million as at 31 December 2012, a reduction of 98 million compared to the end of 2011. Revenues rose by 22,9% to 4.327,8 million (result mainly attributable to the rise in the prices of energy commodities and the increase in the volumes of electricity, gas and heat sold).
As for 2013, the company points out that the results will be influenced by the evolution of the energy scenario "which remains negative in terms of energy demand in the industrial sector, with repercussions on thermoelectric production, which will be affected by the growing competition from renewable sources". At 17.30, the Iren share is quoted at 0,653 euro with an increase of 5,32%.
