Consolidated EBITDA at replacement cost: €163 million, €111 million in the first quarter of 2015
Group net result at replacement cost: €57 million, €34 million in the first quarter of 2015

Genoa, 13 May 2016 - At its meeting held yesterday, the Board of Directors of ERG S.p.A. approved the Interim Management Report as at 31 March 2016.

Consolidated Financial Results at replacement cost

Performance highlights (million Euro)

First Quarter

Variation

2016

2015

EBITDA

163

111

+46%

EBIT

99

71

+40%

Group net result

57

34

+68%

31.03.16

31.12.15

Variation

Net financial debt (million Euro)

1,741

1,448

+294

Leverage

50%

46%

Luca Bettonte, ERG's Chief Executive Officer, commented: 'the first quarter results show a strong growth and are decidedly satisfactory, reflecting both the improved wind conditions recorded with respect to the previous year and, above all, the full contribution from the over 900MW of new capacity installed and acquired during the past twelve months. The technological diversification in the hydroelectric sector coupled with the increase in wind power capacity installed outside of Italy, within a situation of positive wind conditions and despite the low water availability, have made it possible to increase the volumes of energy output, abundantly offsetting an extremely weak energy price scenario. The results also benefitted from a positive contribution from the Energy Management business, the operational efficiency of the thermoelectric plant and the constant tight control over central costs. In view of the results achieved during the quarter and notwithstanding the energy scenarios which continue to be depressed, we confirm our guidance for 2016 which forecasts, for the end of the year, EBITDA of Euro 440 million and a net debt of Euro 1.73 billion, including both the investments in the United Kingdom and the extraordinary dividend.'

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The results for the first quarter of 2016 will be illustrated to analysts and investors today at 3.00 p.m. (CEST), during a conference call and simultaneous webcast, which may be viewed by visiting the Company's website (www.erg.eu); the presentation will be available on the said website, in the 'Investor Relations/Presentations' section, at the offices of Borsa Italiana S.p.A. and on the Nis-Storage authorised storage mechanism (www.emarketstorage.com) 15 minutes before the conference call.

This press release issued at 7.45 a.m. (CEST) on 13 May 2016, has been prepared pursuant to the Issuers' Regulations. It is available to the public on the Company's website (www.erg.eu) in the section 'Media/Press Releases', at the offices of Borsa Italiana and on the 'Nis-Storage' authorised storage mechanism (www.emarketstorage.com). The Interim Management Report as at 31 March 2016 is available to the public at the Company's registered office at via De Marini 1, Genoa, on the Company's website (www.erg.eu) in the section 'Investor Relations/Financial statements and reports', at the offices of Borsa Italiana and on the 'Nis-Storage' authorised storage mechanism (www.emarketstorage.com).

Contacts:

Alessandra Mariotti Media Relations Manager - tel. + 39 010 2401364 mob. + 39 335 8053395
Emanuela Delucchi IR Manager - tel. + 39 010 2401806 - e-mail: ir@erg.eu
Matteo Bagnara IR - tel. + 39 010 2401423 - e-mail: ir@erg.eu - www.erg.eu - @ERGnow

ERG S.p.A. published this content on 13 May 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 13 May 2016 06:53:07 UTC.

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