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Enel: Starace shows the results of 2018

Francesco Starace analyses the excellent result of Enel at the end of 2018
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The results achieved by Enel at the end of 2018 are "excellent." That is the view of CEO Francesco Starace, who states that the Group has managed to "reach its EBITDA target for the year.” Growth is the watchword: revenues are at € 75.6 billion (+ 1.3% compared to 2017), ordinary EBITDA at € 16.2 billion (+ 3.8%) and EBITDA at € 16.3 billion (+ 3.8%). The rise in revenue is largely due to the activities deriving from the acquisition of Enel Distribuição São Paulo in Brazil and Enel X North America, as well as the higher sales of electricity from renewable sources in Italy, Spain and South America, and in the free market in Italy. 

We achieved excellent results in 2018, which enabled us to reach our target EBITDA for the year

Francesco Starace, Enel CEO

We are still pursuing the objectives of the Group’s strategic plan,” says Starace, in analysing the preliminary consolidated results for the financial year 2018. These numbers show "particular attention to sustainability in our actions on the markets which have projected the group towards growth in the use of renewables, in the distribution of electricity and in advanced energy services.” Nor is it a coincidence that more than 3 GW of renewable capacity was connected to the grid globally over the course of the year. Moreover, the recorded rise in revenue was driven by renewables as well as by the “acquisitions in distribution, including Enel Distribuição Sao Paulo, which makes us the industry leader in Brazil.”

Enel’s advanced energy services segment made a further contribution to the increase in revenue,” as Francesco Starace observed. Furthermore, the CEO notes that the company has succeeded in containing net financial debt “thanks to the improvement in cash-generating capacity” as well as “a greater commitment of the group’s resources to organic growth and acquisitions, in spite of the persistent unfavourable exchange rate effect throughout the period.”

Enel editorial staff