MILAN (ITALPRESS) – The Board of Directors of Edison, meeting yesterday, approved the Interim Report of Management at 30 September 2025, which ended with a solid operational performance of all areas of business and with a growth of the main industrial indicators. Revenues increase to 13.325 million euros, in particular of the greater volumes of energy produced and sold (electricity sales +31%, gas +9.3%) and the market scenario, with the increase of the average price of electricity of +14% and gas of +21% regarding the same period of 2024.
The Gross Operating Margin (EBITDA), in line with expectations, stood at 1,081 million euros, decreasing compared to the first nine months of 2024 as a result of three main factors. First, lower long-term gas portfolio optimization opportunities, despite the increased volumes imported (+5%), also supported by the new GNL quantities deriving from the start of supplies from the United States. Secondly, the normalization of hydroelectric production volumes, which in 2025 returned in line with historical averages after the extraordinary hydraulicity of 2024 (-25% in the comparison period). Thirdly, the reduction of unit sales margins to residential and industrial customers of Edison Energia, although in a context of strong growth of the number of customers that allowed the company to exceed 3 million contracts during the year.
These are partly offset by the performance of Edison’s thermal power plant, which has marched more continuously in the face of smaller electricity imports and smaller renewable productions at national level. The Operating Result (EBIT) of the Edison group is pairs to 427 million euros from 600 million euros in the first nine months of 2024. The result includes, among other things, charges for 294 million euros linked to the activities of territorial regeneration (value in decrease compared to 414 million in September 2024). As a result of the above effects, the Group closes the first nine months of 2025 with a profit of 251 million euros compared to 403 million euros of the same period of 2024. Financial indebtedness at 30 September 2025 recorded a credit balance of 618 million euros compared to the debt of 313 million euros of 31 December 2024, due to the robust operating cash flows, as well as the resignation of Edison Stoccaggio and other non-strategic assets, such as the power plant of Sesto San Giovanni and the participation in Elpedison, for approximately 850 million euros overall. The Board of Directors of Edison, meeting at its meeting on 29 October, was informed that Électricité de France (EDF) initiated a strategic review process aimed at evaluating the possible options regarding the level of its participation in the company, while maintaining its control.
The results of this process and the possible follow-up will be given information in compliance with current and applicable legislation. The demand for electricity in Italy in the first nine months of 2025 is in moderate bending (-1.2%) to 233,3 TWh regarding the same period of 2024. Thermoelectric production meets about 47% of demand with 108.8 TWh (+2.7%). Renewables as a whole cover more than 37% of Italian requirements: in particular, in the period the photovoltaic production grows that becomes the first green source in the national mix (+22.5% to 36.9 TWh). On the other hand, hydroelectric production is reduced (-18.6% to 34.7 TWh), after a 2024 that has recorded a performance above the historical thirty-year averages, and wind production (-4% to 15.7 TWh) due to lower winding. Net electricity imports (-8.9% to 35.3 TWh) fell over the period. On the front of the prices, in the first nine months of the year the National Single Price (PUN) – the Italian reference index for electricity – stands on an average value of 116 euro/MWh (+14%) compared to 102,1 euro/MWh of the same period last year, for the combined effect of minor renewable productions, the lower importelectric from abroad (-8.9% to 35,3 TWh) and the higher costs of thermo generation. The demand for gas in Italy in the first nine months of the year is increasing by 4.4% to 44.8 billion cubic meters compared to 42.9 billion cubic meters of the same period of 2024.
To grow are mainly the thermoelectric uses (+6.4% to 15,8 billion cubic meters); while residential uses mark a more contained increase (+0.9% to 18,1 billion cubic meters) and industrial uses are substantially in line with 2024 (+0.5% to 8.7 billion cubic meters). On the front of the prices, in the period the gas spot in Italy has been attested on an average value of 43,1 cents of euros per cubic meter, in increase of 21.4% regarding 35,5 cents of euros per cubic meter of the first nine months of 2024, as a result of a high demand of gas in Europe, the persistence of geopolitical tensions, of temperatures more rigid than the winter turns and of the less wind. Based on the results of the first nine months of the year, the Edison Group now estimates an EBITDA between 1.3 and 1.4 billion euros for 2025 (compared to an initial forecast between 1.2 and 1.4 billion euros).
The Board of Directors appointed for co-option, replacing Xavier Girre, the non-executive director Claude Laruelle, Executive Director Performance, Impact, Investment and Finance of the EDF Group, who will expire with the next meeting. With this appointment, the number of members of the board of directors set by the assembly is reconstituted to 11, of which 6 men and 5 women.
-Photos of the Edison logo
(ITALPRESS).
