Edison archives the first nine months of 2018 with a profit of 87 million euro against a loss of 110 million in the same period of the previous year "thanks to the good performance of the electricity supply chain and E&P activities, as well as the containment of the impact of the volatility linked to commodity and exchange rate hedging".
In the nine months the group led by Marc Benayoun has achieved revenues sales amounted to 6,52 billion, up 2,6% from 6,35 billion in the same period of 2017. The revenues from the hydrocarbons sector excelled, up 8,7% to 4,279 billion euros compared to the first nine months of 2017 in the wake of the price increase. Reverse trend for revenues from the electricity sector which fell by 8,6% to 2,742 billion euros in the period compared to the same period of 2017 mainly due to lower volumes sold on the wholesale market, partly offset by the increase volumes sold to end customers.
THEEbitda stood at 620 million, slightly down on the 647 million of the first nine months of 2017 while theEBIT it increased to 235 million from the previous 84 million, mainly thanks to the change in the fair value relating to the commodity hedging activity.
As regards the balance sheet, thefinancial debt net as at 30 September 2018 rose to 310 million from 116 million at the end of 2017.
Speaking of the future, Edison revised “further Ebitda forecasts are up for the whole of 2018 which will exceed 740 million euros”.
