The Board of Directors approves the results at 31 March 2021. Strong growth of all economic indicators

Strong growth of all economic indicators: Ebitda increased by 14% and Group net profit by 44%.

1Q 2021 results show how the effective and efficient business management, the recovery of the energy scenario, a more favourable climate framework and the positive contribution from the consolidation of I.Blu and Unieco have made it possible to absorb the effects of the pandemic. This trend is reflected in an increase in profit margins supported by an improvement in financial margins: with EBITDA amounting to € 313 million (+14.0%) and Group net profit attributable to shareholders of € 121 million (+44.2%), net debt decreased by about € 33 million thanks to strong cash generation.

Main economic-financial indicators

  • Revenues in the amount of € 1,140 million (+5.8% compared to € 1,077 million as at 31/3/2020).
  • Gross Operating Margin (Ebitda) in the amount of € 313 million (+14.0% compared to € 274 million as at 31/3/2020).
  • Operating profit (Ebit) in the amount of € 184 million (+26.7% compared to € 145 million as at 31/3/2020).
  • Group net profit attributable to shareholders of € 121 million (+44.2% compared to € 84 million as at 31/3/2020).
  • Net financial debt at € 2,915 million (-1.1% compared to € 2,948 million as at 31/12/2020).

Industrial highlights

  • Overall organic growth of approximately € 6 million Ebitda, net of emerging costs.
  • Consolidation of recently acquired companies (I.Blu and Unieco) equal to € 8 million Ebitda.
  • Synergies equal to € 2 million Ebitda.
  • Capital expenditure of € 122 million (-6.2%) in line with the Plan's assumptions and expected to grow in the coming quarters.
  • Sound customer base in the energy sectors (approximately 1.885 million customers), up by 8,000 compared to 31/12/2020.