Edison S.p.A. Announces Earnings Results for the First Half Ended June 30, 2017; Provides Earnings Guidance for the Year 2017
Edison S.p.A. announced earnings results for the first half ended June 30, 2017. For the period, the company reported sales revenues were EUR 4,968 million compared to EUR 5,468 million a year ago. Total net revenues were EUR 5,033 million compared to EUR 5,564 million a year ago. EBITDA was EUR 426 million compared to EUR 340 million a year ago. EBIT was EUR 19 million compared to EUR 21 million a year ago. Loss before taxes was EUR 57 million compared to EUR 36 million a year ago. Loss from continuing operations was EUR 134 million compared to EUR 56 million a year ago. Loss was EUR 134 million compared to EUR 56 million a year ago. Diluted loss per common share was EUR 0.0272 compared to EUR 0.0132 a year ago. Diluted earnings per savings share was EUR 0.0250 compared to EUR 0.0250 a year ago. Cash flow from continuing operations was EUR 490 million compared to EUR 502 million a year ago. Additions to intangibles and property, plant and equipment was EUR 195 million compared to EUR 187 million a year ago. As at June 30, 2017, net financial debt amounted to EUR 780 million, a further improvement compared with the EUR 1,062 million recorded at the end of 2016.
The company upgrades its EBITDA guidance for 2017 to about EUR 700 million.