Quarterly growth for Hera which records a leap in profit of 10% and for A2A which presents an Ebitda improving year on year. Both utilities beat analysts' estimates but were penalized on the stock exchange on a day in which sales took over the list and in particular the sector, influenced by the political climate on the new Lega-M5S government.
THE ACCOUNTS OF HERA
The Bologna-based multi-utility closed the first quarter of 2018 with revenues of 1,74 billion euro, an increase of 10,4% compared to those of the same quarter of 2017. Hera is able to exhibit an Ebitda of 323 million, up 5,2% on an annual basis and 2,5% higher than analysts' forecasts, and an Ebit up 5,5% to 198 million (+2,6% vs consensus). The group led by Stefano Venier closed the first three months with a net profit of 121 million, up 9,6% compared to the same period of 2017 and 5,2% above consensus estimates. Net financial debt as at 31 March 2018 amounted to 2,5 billion, a slight decrease (-1,8%) compared to the same date in 2017 (and in line with analysts' forecasts).
Going into the details of the various businesses, it should be noted "the good performance of the gas sector, a solid customer base in the energy sectors, increasing to around 2,4 million customers and a management based on the extraction of efficiencies and expansion", states the group statement.
THE ACCOUNTS OF A2A
The Milanese utility closed the quarter with revenues of 1,81 billion euros, an increase of 11,7% compared to the reclassified ones of the 1st quarter of 2017 and 9,8% higher than the consensus estimates. In terms of operating results, A2A achieved a Ebitda of 408 million, up 3,8% on an annual basis and 2,5% higher than analysts' forecasts, and a slight increase in Ebit (+1,4%) to 287 million (+4,4% vs consensus). The income statement for the 1st quarter of 2018 of the group led by Luca Valerio Camerano closed with a net profit of 173 million, showing a contraction of 3,9% compared to the same period of 2017 due to the increase in taxes, but 3,6% higher than consensus estimates. Net financial debt as at 31 March 2018 was equal to 3,18 billion, up by 4,9% compared to the same date in 2017 (and in line with analysts' forecasts). The investments in the 1st quarter of 2018 amounted to 76 million, with a leap of 43,4% on an annual basis, but 7,3% lower than broker estimates.
ACEA ACCOUNTS
The Acea group also released the quarterly accounts closed with a net profit up 18% to 77 million, against revenues of 745 million (+3%). Investments in the period reached 133 million (+5%), net debt rose to 2,482 billion from 2,421 billion at the end of 2017. "The results achieved by the Acea Group in the first quarter of 2018 are higher than forecasts and therefore allow us to confirm the guidance already communicated to the market”, underlines the company in a note.
Updated at 13:57pm Thursday May 10th
