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Francesco Starace: 2017 a year of growth for Enel

Francesco Starace presents Enel’s 2017 performance data
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“Growth” is the word that best sums up Enel’s 2017: this was confirmed by CEO Francesco Starace on 22 March when he made the economic-financial data presentation for 2017 to analysts. “We posted a particularly strong performance, with net profit increasing by over 14% and the shareholder return rising by 32%, with both figures exceeding the Plan’s targets,” explained Starace. 

In 2017, the Enel Group posted a particularly strong performance: these figures are proof of the effective implementation of the Group’s strategy and the ongoing development of the business model. This is in spite of the fact that the market situation continues to be challenging.

Francesco Starace, Enel CEO

The 2017 financial statement also reported revenues of €74.6 billion, a 5.7% increase from the previous year, as well as a 2.5% increase of EBITDA. The Group’s net profit, €3.8 billion, increased by 47%. For Starace, these figures “are proof of the effective implementation of the Group’s strategy and the ongoing development of the business model. This is in spite of the fact that the market situation continues to be challenging.” Starace stressed that over the course of the entire business year significant progress was made in reaching the set goals for the enabling factors and the fundamental principles of Enel’s strategy. He also laid particular emphasis on the investments made in digitalising distribution networks and generation assets, totalling approximately €1 billion. He also pointed to the fact that there is significant focus on the customer: there are 20 million customers on the unregulated market, with an increase in their number across all main geographical areas. The Enel X Business Line was also launched.

We have improved cash flows and kept net debt below the 2017 guidance, while continuing to focus on increasing investments and acquisitions, in addition to distributing dividends,” said Starace, who then discussed Enel’s achievements in the field of renewable energies: “They continue to be the driver of our growth, with over 3GW additional capacity registered in 2017, mainly in South America and the United States.” It is a performance that reflects the Group’s work, which is increasingly committed to seeking out solutions that promote the creation of long-term sustainable value, in line with the UN’s Sustainable Development Goals (SDGs).

Enel editorial staff