MILAN Feb 8 Italian utility Edison
returned to profit in 2012, as lower prices it paid for gas
supplies helped offset declining revenues from the sale of
electric power and natural gas.
The group said on Friday its revenue rose 5.6 percent to
12.0 billion euros ($16.1 billion) for the year, and it would
pay a dividend of 0.15 euros per savings share, including 0.10
euros for 2010 and 2011.
Earnings before interest, tax, depreciation and amortisation
(EBITDA) rose 23.9 percent to 1.1 billion euros, while net
profit was 81 million euros, against a loss of 871 million euros
The company added, however, that its outlook "remains
negative, particularly in the natural gas sector."
Utilities have been struggling with a drop in demand for
power and gas in Europe amid protracted economic weakness.
Edison said electricity demand fell 2.8 percent last year
and natural gas demand dropped 4.1 percent.
($1 = 0.7474 euros)
(Reporting by Jennifer Clark; Editing by Mark Potter)