Starace: Enel’s results for the first half of 2019

Published on Thursday, 8 August 2019

“Enel has achieved excellent results in the first half of 2019, with a double-digit increase in EBITDA and net ordinary profit. This confirms the solidity of our business model, which fully integrates sustainability as the basis for creating financial value”

– Francesco Starace, Enel CEO

He added that plants are being developed with “a renewable capacity of more than 7 GW which, according to the forecasts, will, once they reach full operation, contribute to the Group’s EBITDA to the tune of one billion Euro per year.” Similarly, the distribution networks significantly contributed to the increase in the Group’s EBITDA. This was thanks to the consolidation of Enel Distribuição São Paulo in Brasil. “Over the period in question we also led growth in the advanced energy solutions sector, with Enel X installing 63,000 charging points for electric vehicles. This represents a 70% increase in annual terms.” Starace also pointed out that this progress is included in the path aimed at reaching all of the Sustainable Development Goals (SDGs), as defined by the UN. In particular, the Group has reached 56% of zero-emission generation, getting closer to the goal of 62% that was envisaged for 2021. This marks further progress in the fight against climate change, SDG 13 (“Climate Action”).

 

In conclusion, Francesco Starace said that “The high visibility of our results, which was guaranteed by the continuity of our operating performance, by the constant improvement in efficiency and by new projects in our portfolio, enables us to reconfirm our goals for 2019, safe in the knowledge that we can also reach the medium-term goals envisaged by the Plan.” He also highlighted that, in perspective, “the stable generation of cash flows, which has entirely financed the acceleration of investments, will continue to support the growth of the Group.”

 

 

Enel editorial staff