Edison SpA, Italy's No. 2 electricity and natural gas company, said it swung to a net loss in 2011, hit by a special tax on energy companies and the exclusion of some assets after its majority shareholders decided to split some of them up to end a dispute.

In a statement, Edison said it recorded a net loss of EUR871 million in 2011 compared with a net profit of EUR21 million the year before. Earnings before interest, tax, depreciation and amortization, or Ebitda, dropped 30% to EUR887 million over the period.

Edison is controlled by Electricite de France SA (EDF.FR) and a group of Italian utilities led by A2A SpA (A2A.MI). They agreed to part ways over disagreements on Edison's future and an accord was reached to sell to the Italian firms some assets.

Edison also said it expects this year's Ebitda to be in line with that of 2010, excluding the contribution from the assets sold.

-By Liam Moloney, Dow Jones Newswires; +39 06 6976 6924; liam.moloney@dowjones.com

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