Growth in the first quarter of 2017 for Saras. In the period group revenues rose 45% to 1,897 million euros thanks to higher oil prices. In fact, gasoline prices averaged $543 a ton ($396 the average in the first quarter of 2016), while diesel prices averaged $478 a ton compared to an average of $311 in the first quarter of 2016. XNUMX.
Particularly group's reported ebitda jumped 137% to 160,4 million euros, thanks almost entirely to the refining segment which, in the period, was able to benefit from higher processing linked to a less onerous maintenance program and better operating performance, which offset the lower margins.
The increase in petrol prices gave rise to higher revenues of approximately 478 million euros in the refining segment and higher revenues of approximately 106 million in the marketing segment, despite the volumes of products sold in Italy and Spain being down by 13% compared to the same period of the previous year. While the revenues of the electricity generation segment they were approximately 11 million higher than in the first quarter of last year as a result of the increase in the value of the electricity tariff and the higher sales of steam and hydrogen which more than offset the lower production.
The reported net result thus reached 92,1 million euros compared to -0,2 million achieved in the first quarter of 2016. Furthermore, in the first three months of this year depreciation and write-downs were lower (52,9 million euros against 56,3 million) and net financial expenses decreased by 40% (approximately -3,7 million compared to -6,2 million) thanks to the renegotiation of some credit lines and the early repayment of bonds, completed in 2016.
