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ERG S.p.A.

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Type	Public
Traded as	BIT: ERG
Industry	Petrochemical Renewable energy
Founded	June 2, 1938 (1938-06-02)
Headquarters	Genoa, Italy
Key people	Edoardo Garrone (Chairman) Luca Bettonte(CEO) Riccardo Garrone (Honorary Chairman)
Products	Refinery products Electric power
Revenue	€6,798 million (2010)[1]
Operating income	€37.842 million (2010)
Net income	€10.382 million (2010)[2]
Total assets	€5,293.727 million (2010)
Total equity	€1,891.494 million (2010)
Employees	652 (2011)
Website	www.erg.it

ERG (Edoardo Raffinerie Garrone) is an Italian multi-energy company, founded in 1938 and based and headquartered in Genoa, Italy. ERG has been listed on the Milan stock exchange since 1997.

History[link]

ERG was founded by Edoardo Garrone in 1938,^[3] founding a company for the refining of petroleum. In 1952 signs an agreement to refine the oil on behalf of BP.^[4]

During the 60s and 70s has started to build some oil refineries and pipeles in Italy, in particular a pipeline in Arquata Scrivia^[5] and a oil refinery in Priolo Gargallo (ISAB).^[3]

In the 80s has acquired the gas stations owned by Elf, Chevron and BP in Italy, through ERG Petroli.^[3]

Since 1997 is listed on the Italian Stock Exchange.^[6] In 1999 has opened his gas stations network in Spain through ERG Petroleos,^[5], sold in 2008 to Saras S.p.A.^[7]

In 2008 has signed an agreeement with Lukoil, sharing the 49% of oil refinery in Priolo Gargallo.^[8][9]

In 2009 it launched its own Mobile virtual network operator: ERG Mobile, becoming the first Italian oil company with its own telecommunications company.^[10]

Sponsorship[link]

ERG has been the main sponsor of U.C. Sampdoria, a football club owned by Garrone family (which Riccardo Garrone is the President and Edoardo as Vice, with Vittorio as Director), for more 9 years. For the 2011 - 2012 football season, ERG is the corporate partner of the team, especially in activities involving young people.

Some numbers (Annual Report for the year ended as 31 December 2011)[link]

EBITDA at adjusted replacement cost: The results at replacement cost do not include gain (losses) on inventory and non characteristic items. EBITDA at adjusted replacement cost takes into account, for the portion pertaining to ERG, the added contribution from the results of ISAB S.r.l. (company created in joint venture with LUKOIL) and TotalErg S.p.A. (company created in joint venture with TOTAL).

SOURCE: www.erg.it, Annual Report (interactive version)

References[link]

External links[link]

This article includes a list of references, related reading or external links, but its sources remain unclear because it lacks inline citations. Please improve this article by introducing more precise citations. (March 2012)

• ERG Official Website
• Interactive version of 2011 ERG Annual Report
• Interactive version of 2010 Sustainability Report
• ERG Renew Official Website
• ERG Divisione Power & Gas Official Website
• TotalErg Official Website