Edison : ended the first quarter with revenues at 3 billion euros, strong growth of EBITDA to 172 million euros, net loss of 76 million euros

Milan, May 10, 2016 - The Board of Directors of Edison, which met today, reviewed the Quarterly Report at March 31, 2016, which ended with a significant increase in EBITDA as a result of the positive conclusion of the second cycle for the renegotiation of the gas supply agreements. This second cycle of renegotiations, concluded at the end of 2015, has made it possible to bring margins of gas sale activities back to a reasonable level. The net result, negative by 76 million euro (-153 million euro in the same period of 2015), is affected by the volatility related to commodity and foreign exchange hedging positions.

Taking into account the performance of the first quarter of the year and the deterioration of the energy market, EBITDA 2016 should reach approximately 650 million euros, including the Fenice contribution for 9 months, equal to about 60 million euro.

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