Edison: renewables and downstream activities drive results in 2024. Revenues at 15.4 billion, EBITDA at 1.7 and profit at 403 million euros

On the sustainability front Edison achieved a reduction of Scope 1 emission factor by 15%, from 284 to 240 grams of CO₂ per kWh, and reached a level of avoided emission of 2.8 million tonnes of CO₂.

 

Milan, February 20, 2025 – Edison’s Board of Directors met yesterday and reviewed the Financial Statements as at December 31, 2024, which closed with a solid industrial performance and significant progress towards the Group’s sustainability goals. Across 2024, renewables, flexibility, customers activities and services accounted for 55% of Edison's EBITDA, up from 43% in 2023. The contribution of wind and solar volumes and favourable hydroelectric conditions also enabled a reduction in emissions intensity from 284 grams to 240 grams of CO₂ per kWh of energy produced. An achievement that is the result of the strong focus in recent years on the energy transition.

The Edison Group closed 2024 with EBITDA at 1,708 million euros (1,808 million euros in 2023). The contraction is a result of lower gas prices and the lower level of optimisation opportunities related to portfolio activities within the Gas Supply area. This, however, was offset by a solid performance in renewable energy production, which came to account for 28% of Edison’s generating mix in 2024, mostly thanks to an increase in hydroelectric power production and the commissioning of new renewable capacities. Moreover, in the Clients and Services segment, Edison Energia recorded strong growth in its customer base during the year (reaching close to 3 million contracts); and also Edison Next confirmed the positive contribution to profitability of its decarbonisation services for public administrations and industries.

These operating dynamics flow through to the Group’s net profit, which was however affected by a significant level of provisions for the territorial regeneration of ex-Montedison sites. Edison closed the year with a net profit of 403 million euros, compared to 515 million euros in 2023.

Financial debt at December 31, 2024 stood at 313 million euros, against a credit position of 160 million euros at December 31, 2023, due to significant investments, particularly in the energy transition businesses, and long-term commitments for territorial regeneration activities.

Edison’s improved sustainability performance reflected in the results for the year was confirmed by the ESG ratings obtained from major agencies in recognition of the commitment to managing and monitoring environmental, social and governance aspects. In 2024, Edison obtained constantly improving ratings from all the Agencies involved (Sustainalytics, S&P, Ecovadis), proving the extent to which sustainability principles are embedded into the Group’s development strategy and are capable of creating value for all stakeholders in the medium to long term.

 

EDISON GROUP HIGHLIGHTS (*)

million euros	Year 2024	Year 2023
Sales revenues	15,387	18,346
EBITDA	1,708	1,808
EBIT	554	796
Net profit from Continuing Operations	386	582
Net profit of the Group	403	515

 

 

(*) It should be noted that, starting from the 2024 financial year the breakdown of the segment information under IFRS 8 has been changed and that the previous three segments ‘Electric Power Operations, ‘Gas Operations and ‘Corporate” were redefined into 4 segments called ‘Generation&Flexibility’, ‘Gas Supply & Development of Green Gases’, ‘Clients&Services’ ‘Corporate&Environmental Remediation’, with the aim of better aligning the business segment to the Group's strategy. Consequently, in accordance with IAS 8 and IAS 36, about 1.9 billion euros of indistinct goodwill on the total 2.1 billion euros of goodwill had to be reallocated to the new segments.

 

 

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