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Starace confirms Enel's financial target for 2019

Francesco Starace, Enel’s CEO, confirms the financial targets for 2019

Enel closed 2018 with "very solid results, as is evident in the 9.5% increase in ordinary net income and greater remuneration for shareholders, which was 18% higher than in 2017". This was announced by Enel CEO Francesco Starace, who highlighted how the Group has achieved all its strategic objectives for 2018, thereby confirming its ability to deliver its industrial strategy. 

These excellent annual results, together with the progress in achieving the fundamental principles of the 2019-2021 Strategic Plan, allow us to confirm our financial goals for 2019

Francesco Starace, Enel CEO

Some figures: net result of 4,789 million euros (+ 26.7% compared to 2017), ordinary net income at 4,060 million (+ 9.5%), ordinary EBITDA at 16,158 million euros (+3.9 %). But Enel's 2018 will also be remembered for another important milestone: "With over 3 GW of new renewable capacity added in 2018, Enel Green Power has set a new industry record and confirms itself as a growth engine for the Group, together with the distribution business.”  In particular, Starace mentions the acquisition of Eletropaulo in Brazil, which brought the number of customers connected to Enel's networks to 73 million.

But above all, the CEO says, the progress made in 2018 towards achieving the Sustainable Development Goals shows how sustainable business models still represent "the foundation of the Group's global presence.” Nor is it a coincidence that in 2019 Enel plans to increase investments in renewable projects, mainly in North America, and to continue to invest in the digital transformation of networks in Italy and South America. "Attention to the customer on a global level will be enhanced, and Enel X's activities in the electric mobility field will be accelerated," explains Francesco Starace, who pointed out how achieving the objective  of decarbonising of Enel's generation capacity is "another significant source of profitability”: “In 2021, the 62% of the energy generated by the Group is expected to be zero emission, compared to the figure of more than 50% recorded in 2018.” The CEO concluded by underlining how the excellent performance in 2018 and the progress in the realisation of the fundamental principles of the Strategic Plan for 2019-2021 have enabled the Group to confirm its financial objectives for 2019.

Enel editorial staff