Enel, Starace analyses the first quarter of 2020

Published on Tuesday, 12 May 2020

“Renewables and digitalisation are key for stimulating the recovery from the Covid-19 emergency”

– Francesco Starace, Enel CEO

Overall, the results of the first quarter confirm what CEO Francesco Starace had expected: as pointed out by Enel in a statement, “there is currently no evidence of significant impacts of the emergency related to the Covid-19 outbreak on the Group”. Furthermore, since the beginning, “constant monitoring of the impacts of the emergency on macroeconomic and business variables has been implemented. This has been done in order to have the best, real-time estimates of potential effects on the Group, as well as to enable their mitigation with response or contingency plans”.

 

The quarterly results therefore confirm the solidity of the Group – also in terms of its ability to “withstand the effects of volatile scenarios” and ensure that “there will be no risk with regard to dividends, neither in 2019 nor in 2020”. Commenting on the coming months in an interview with “Bloomberg”, which took place on 7 May during the quarterly report, CEO Francesco Starace pointed out that renewables and digitalisation are key for stimulating the recovery from the Covid-19 emergency. Enel has followed this path for some time and still continues to do so today: in the period January-March 2020, electrical generation from renewable sources – including managed capacity – has far exceeded thermal generation, and has reached 28 terawatt-hours (25.6 terawatt-hours in the first quarter of 2019, +9.3%). Thermal generation, on the other hand, is at 18.8 terawatt-hours (29.3 terawatt-hours in the first quarter of 2019, -35.9%). Enel’s energy generation from “zero emissions” sources is equivalent to 64% of its total capacity today.

 

Enel editorial staff