Edison Swings To Net Loss, Confirms Ebitda Expectations
October 28 2011 - 8:46AM
Dow Jones News
Edison SpA (EDN.MI), Italy's No. 2 electricity and natural gas
company by capacity, Friday said it swung to a third-quarter net
loss of EUR31 million after the increase of a special levy, known
as the Robin Hood tax, for energy companies.
Edison confirmed it expects 2011 earnings before interest,
taxes, depreciation and amortization, or Ebitda, at EUR900 million.
Electricite de France SA (EDF.FR) jointly controls Edison with some
Italian investors and is seeking sole control.
MAIN FACTS:
- Third-quarter net loss was EUR31 million, compared with a net
profit of EUR37 million a year earlier.
- Third-quarter Ebitda was EUR226 million, compared with EUR304
million for the equivalent period in 2010.
- Total net revenue was EUR3.11 billion, compared with EUR3.57
billion.
-By Liam Moloney, Dow Jones Newswires; +39 06 6976 6924;
liam.moloney@dowjones.com
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