The Board of Directors approves the fiscal year results at 12.31.2020: EBITDA of 927 million euros and investments up 31%
The Group's net income, in line with the previous year, supports the proposed dividend of €9.50c per share, up 2.7%.
Excluding the extraordinary items that characterised both reporting periods, the EBITDA would have increased by approximately 49 million euros (+5.7%) supported by all the strategic pillars. The significant investments made during the period, 685 million euros, and the proposed dividend increase, despite the emergency situation, confirm the ability to achieve the goals set out in the business plan.
Main economic-financial indicators
- Revenues of 3,725 million euros (-12.8% compared to 4,275 million euros at 31/12/2019), a drop mainly due to the Covid-19 impact, commodity prices and mild weather.
- Gross Operating Margin (Ebitda) of 927 million euros (+1.1% compared to 917 million euros at 31/12/2019). Excluding the extraordinary items that characterised both periods, the ebitda increase would have been approximately 49 million euros (+5.7%).
- Operating profit (Ebit) of 416 million euros (-8.0% compared to 452 million euros at 31/12/2019). Excluding the extraordinary items and the extraordinary provision for bad debts due to Covid-19, the EBIT would have increased by 2.3%.
- Group's net profit attributable to shareholders of 235 million euros (-0.4% compared to 236 million euros at 31/12/2019). Excluding the extraordinary items, net income would have increased by 3.7%.
- Net financial debt of 2,948 million euros (+8.9% compared to 2,706 million euros at 31/12/2019). Net working capital helped contain the debt increase generated mainly by investments and consolidation operations.
- Proposed dividend per share of €9.50c, up 2.7%, in line with the Business Plan announcement.
- Organic growth and synergies exceeding 50 million euros, partially offset by emerging structural costs on the Market (10 million euros), the impact of regulation on the Networks (10 million euros) and the impact of Covid-19 (15 million euros).
- Consolidation with an effect on Ebitda of approximately 11 million euros, linked to the entry of I.Blu and Unieco into the company sector.
- Investments in the amount of 685 million euros (+30.7%), mainly for the regulated sectors, for the development of the new combined-cycle thermoelectric line and the waste treatment plants.
- Solid customer base in the energy sectors (approximately 1,877 million customers), increased by more than 60,000 customers compared to 31/12/2019.