The company had expenses of 31 million, higher than the income of 20,7 million.
EDIA – Alqueva Development and Infrastructure Company recorded a negative net result in 10,4 million euros in the semester, according to the statement released by the company. This represents a break in 38,65% over the same period.
According to the statement, published on the Securities Market Commission page (CMVM), EBITDA for the semester was negative in 5,3 million, 244,8% more negative than in the same period.
The company had expenses of 31 million, higher than the income of 20,7 million. Although spending has decreased by more than 1 million euros compared to the first half of 2023, income also fell, in relation to 24,7 million euros corresponding to the same period of the previous year.
Regarding income, the decrease in 16,12% To the 20,7 million, justified by the decrease in Sales and Service Provisions, given the wet semester, which dictated a “lower billing volume related to water distribution and energy production from hydro plants.
The item that weighs the most on expenses is the Supply of External Services, which influences the accounts negatively in 16,7 million. Even though the cost of electricity has decreased, as well as the respective consumption, this item suffered in terms of Conservation and Maintenance, “due to the increase in expenses with the various facilities and equipment allocated to the company’s exploration area”, read in the report.
In parallel, the company's investment grew from 1,7 million in the first half of 2023 to 8 million between January and June this year, a value that does not include the secondary network and includes capitalizations. The company also set up a provision for 3,31 million this year, “for major repairs to the secondary network”.
The second largest expense is personnel costs.. These increased by half a million euros, due to annual salary increases and progressions through performance evaluation, as well as the admission of 12 new collaborators. This item cost 4,3 million euros in the semester.
In June 2024, EDIA has net assets of 786,8 million, with an increase of approximately 16,64 million at the end of 2023.
News: Lidador News/ eco.sapo.pt
