Earnings release
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Iren PRESS RELEASE The Board of Directors approves the results at 31 March 2021. Strong growth of all economic indicators : Ebitda increased by 14 % and Group net profit by 44 % . 1Q 2021 results show how the effective and efficient business management , the recovery of the energy scenario , a more favourable climate framework and the positive contribution from the consolidation of I.Blu and Unieco have made it possible to absorb the effects of the pandemic . This trend is reflected in an increase in profit margins supported by an improvement in financial margins : with EBITDA amounting to € 313 million ( + 14.0 % ) and Group net profit attributable to shareholders of € 121 million ( + 44.2 % ) , net debt decreased by about € 33 million thanks to strong cash generation . Main economic - financial indicators • Revenues in the amount of € 1,140 million ( + 5.8 % compared to € 1,077 million as at 31/3/2020 ) . • Gross Operating Margin ( Ebitda ) in the amount of € 313 million ( + 14.0 % compared to € 274 million as at 31/3/2020 ) . • Operating profit ( Ebit ) in the amount of € 184 million ( + 26.7 % compared to € 145 million as at 31/3/2020 ) . Group net profit attributable to shareholders of € 121 million ( + 44.2 % compared to € 84 million as at 31/3/2020 ) . • Net financial debt at € 2,915 million ( -1.1 % compared to € 2,948 million as at 31/12/2020 ) . Industrial highlights • Overall organic growth of approximately € 6 million Ebitda , net of emerging costs . • Consolidation of recently acquired companies ( I.Blu and Unieco ) equal to € 8 million Ebitda . • Synergies equal to € 2 million Ebitda . • Capital expenditure of € 122 million ( -6.2 % ) in line with the Plan's assumptions and expected to grow in the coming quarters . • Sound customer base in the energy sectors ( approximately 1.885 million customers ) , up by 8,000 compared to 31/12/2020 . Iren Group Images Investor Relations Area Iren Overview Investor Relations Giulio Domma Tel . +39 0521.248410 investor.relations@gruppoiren.it Media Relations Roberto Bergandi Tel . +39011 5549911 Mob . +39 335.6327398 roberto.bergandi@gruppoiren.it Barabino & Partners Tel . +39 02 72023535 Giovanni Vantaggi + 39 328 8317379 g.vantaggi@barabino.it