• {{searchSuggestions.title}}

Starace: Enel’s results as of September 2019

Starace confirmed the solidity of the Group and its growth in 2019
{{item.title}}

Our positive performance during the first nine months of 2019 demonstrates the solidity of Enel’s integrated business model: this was CEO Francesco Starace’s comment on the Group’s results as of September 30th. Net ordinary income was up by 14.1% to €3,295 billion (from €2,888 billion in the same period of 2018); revenues were up by €57,124 billion, with an increase of 3.4%; EBITDA rose by 8.9% (to €13.2 billion). There were €6.6 billion in investments (+27.7%), with a 13.2% increase in net financial debt with respect to the end of 2018. These numbers confirm Enel’s dividend policy, which will see the payment of an interim dividend for 2019 of €0.16 per share. This will be paid out as from 22 January 2020, (+14.3% with respect to the interim dividend of January).

 

“In perspective, operational growth, the continuous effort going into efficiency enhancement, and corporate structure simplification all mean that we are well placed to exceed our full-year consolidated ordinary EBITDA target (which will reach about €17.8 billion) and to generate a consolidated ordinary net income of about €4.8 billion at the end of 2019.” This is what CEO Francesco Starace had to say, adding that these actions are “being pursued as part of a strategic approach that considers sustainability as a key factor in the creation of value for the Group and its stakeholders.” It is by no means a coincidence that the increase in revenue was driven by the growth of renewables, as well as by the activities of infrastructure and networks, particularly in Latin America.

Our positive performance during the first nine months of 2019 demonstrates the solidity of Enel’s integrated business model.

Francesco Starace, Enel CEO

The CEO also highlighted the increase in investment by the Group during the first nine months of the year “to over €6 billion. 84% of this amount is dedicated to renewables and grids, and it is powered by strong cash generation which will continue to support our ambitions for growth in the medium and long term.”

 

As for the path towards decarbonisation, Starace pointed out that this is proceeding according to plan, i.e. through renewables: “We installed 600 MW during these nine months, and we expect a further 2,400 MW to enter service by the end of the year.” The target of 3 GW of new renewable capacity installed by the end of 2019 was therefore confirmed: “We are also working to increase our annual target of additional renewable capacity to 4 GW, starting in 2020.”

 

Enel editorial staff