Enel's Board of Directors presented the preliminary consolidated results for 2016. Enel CEO Francesco Starace confirmed his satisfaction for the results and stressed that the goals achieved are a direct consequence of the implementation of the strategy carried out by the Group.
The reduction in revenue and the effect of the unfavourable exchange rate have been effectively countered by a policy of growth in the renewables sector, the profitable account management, the good margins achieved in Latin America and the positive developments to the retail sector in mature markets.
The solid 2016 results confirms the Group’s plan targets for the 2017-2019 period. In more detail, the 6.7% decrease of revenues (70.6 billion euros vs 75.7 billion in 2015) was countered by an ordinary EBITDA up 1.3% (15.2 billion euros vs 15.0 billion in 2015). The EBITDA remained substantially unchanged compared to the previous year; conversely, the net financial debt marked a 0.3% increase of, reaching 37.6 billion euros due to exchange rate variations, particularly of the US dollar and the pound.
Throughout 2016, the Enel Group’s electricity production totalled 261.8 TWh, with 202.5 TWh distributed and 168.9 TWh sold.
Enel editorial staff