Generation and Retail recorded an EBITDA of €640.6 million (-18.1%)
WHOLESALE AND RETAIL BUSINESS EBITDA BREAKDOWN BY COUNTRIES (%)
At the end of the first quarter of 2016, EBITDA by geographical areas have been:
- Spain: In Spain EBITDA came to €296.1 million (-31.5%).
- Higher outputNote (1) (+5.2%) as a consequence of better hydro conditions, with reserves at maximum levels (9,156 GWh; 81.19%)
- Lower Gas trading activity vs Q1 2015 (€65 million)
- Positive Court Rulings accounted for in Q1 2015 (€57 million)Note (2)
- United Kindom: In the UK, EBITDA came to £ 173.5 million.
- Wholesale and Retail Business business improves due to higher gas output and lower procurement costs.
- Retail business results results decrease driven by milder weather conditions, higher non energy costs (ROCs) and OFGEM ruling on customer compensation
- Mexico: In Mexico EBITDA is $113.1 million (-15.3%).
- Due to lower margins in contracts with private customers due to the decrease of CFE tariff. CFE tariff increased by 6% in April vs March. EBITDA will recover throughout the year
- In US & Canada EBITDA is $18.5 million (N/A) due to better performance of gas business.
Eur –20 M accounted for in Expenses and Eur –37 M accounted for in Levies.