Full Year 2018 ERG SpA Earnings Call Transcript
Good morning. This is the Chorus Call conference operator. Welcome, and thank you for joining the ERG 2018 Annual Results Conference Call. (Operator Instructions)
At this time, I would like to turn the conference over to Mr. Luca Bettonte, CEO of ERG. Please go ahead, sir.
Good morning, and thanks for coming to this conference call related to our 2018 annual results. As usual, here with me is our CFO, Paolo Merli. I'll give you a quick overview of the main figures for the year, while Paolo will lead you through them more in depth, also for the fourth quarter.
As you see on the Chart #4. Also this year our gross operating margin was higher than last year, while net profit was a bit lower. Overall gross operating margin growth was achieved, thanks to the high compartmentality of our generation portfolio. The lower results in wind and thermal generation were more than offset by the extraordinary performance in hydro and by the contribution of the new solar plant.
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