Edison: improved operational performance excluding the effect of last year gas contracts renegotiations. EBITDA at 423 million euros, net profit at 116 million euros and net debt down to 2,264 million euros

Milan, July 31, 2014 – Edison’s Board of Directors reviewed yesterday the Semiannual Report at June 30, 2014, which shows improved results compared with those in the same period last year, excluding the nonrecurring impact of the renegotiation of gas contracts recognized in the first half of 2013.

Good hydro conditions, plants portfolio optimization and a solid performance by the hydrocarbon exploration and production activities enable the Group to report better results for the first half of the year compared with the same period of 2013, net of the retroactive nonrecurring effect linked to the price review agreements signed last year for the Algerian and Qatari gas supply contracts. In a scenario of strong competitive pressure on natural gas supply and sales activities, Edison is engaged in a second cycle of price reviews for long-term gas supply contracts from Libya and Russia, with the aim of reestablishing a reasonable level of profitability for its multi-year contracts portfolio.

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