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Starace: Enel results as of 30 September

Enel CEO Francesco Starace presents the Group’s results as of 30 September 2018
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In the first nine months of 2018, Enel continued to record solid results, with a two-figure increase in net profit compared to the same period in the previous year.” This is what the Group’s CEO, Francesco Starace, had to say with regard to the Group’s results as of 30 September. Some figures: revenue increased by 2% to 55.2 billion euros, net profit stands at 3.01 billion euro (+15.1%) and ordinary net profit at 2.8 billion euro (+11.8%). EBITDA reached 12.134 billion euro: +6% compared with the same period in 2017. 

In the first nine months of 2018, Enel continued to register solid results, with a two-figure increase in net profit compared to the same period in the previous year

Francesco Starace, Enel CEO

Renewables have once again been the key to the group’s positive performance,” Starace observed, “while geographical diversification has been decisive in order to deal with the negative evolution of certain exchange rates.” When illustrating the data, the CEO also pointed out that “the better margins recorded in distribution and sale activities in Italy and Spain, the acquisition of Eletropaulo and the expansion of Enel X in North America all contributed to the increase in profit in the first nine months of 2018.

Starace also explained how, during the period in question, a majority stake, representing some 1.8 gigawatts of renewable capacity in Mexico, was sold for 1.4 billion dollars, while operational management of the plants has been maintained. “In January 2019, we will distribute an interim dividend that is one third higher than the interim dividend paid this year on the 2017 results,” the CEO announced. In actual fact, based on the results, Enel’s Board of Directors has resolved to pay an interim dividend for 2018 of 0.14 euro per share, a 33% increase with respect to the interim dividend distributed in January.

Enel editorial staff