Edison ends 2015 with revenues of 11.3 billion euros

The contribution in kind to Edison of Fenice, the EDF Group company specialized in energy and environmental services, is approved.

Milan, February 16, 2016 – Edison’s Board of Directors, meeting yesterday, reviewed the annual financial statements for the year ended December 31, 2015 and approved a corporate reorganization project that will bring under Edison’s control the activities of Fenice, the EDF Group company specialized in energy solutions and environmental services.

Edison ended 2015 with a sharp gain in EBITDA, which rose to 1.3 billion euros, boosted by the successful conclusion of the last gas supply contract arbitration and thanks to a program to curtail operating cost. The negative net result reflects the effect of after tax writedowns totaling 1.3 billion euros, recognized to align asset values with a lower profitability environment in the energy markets. Edison also generated a positive cash flow of more than 600 million euros in 2015, which contributed to strengthening the Group’s financial profile (debt/Ebitda ratio close to 1).

 

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