In the first half of 2023, the A2A company recorded revenues of 7,989 million euros. This represents a contraction of 18% compared to the 9,778 million euros of the same period of 2022. The decrease is mainly attributed to the decline in revenues in the wholesale energy markets, caused by lower unit prices and lower volumes of commodities sold and intermediate.
Despite this, the situation was partially compensated by the consolidation of A2A Airport, a company acquired in September 2022, and by higher sales of electricity and gas in the retail markets. The Gross Operating Margin reached 880 million euros, signaling an increase of 26% compared to the first six months of 2022 (699 million euros).
Net income before ordinary activities rose to 257 million euros, showing an increase of 32% compared to the first half of 2022 (195 million euros). The Net Financial Position amounted to 4,372 million euros (4,258 million euros as at 31 December 2022).
Following the changes in the scope of the period, equal to -21 million euros, the NFP is up by 135 million euros, after investments of 494 million euros and dividends of 283 million euros. The rolling NFP/EBITDA ratio decreases to 2.6x, down compared to 31 December 2022 (2.8x).