Enel “proves to be a financially sound company”: this is confirmed by the 2019 results, which were presented by CEO Francesco Starace during a conference call with analysts. Revenues are at 80,327 million euro (+6.3%, compared to 2018), EBITDA at 17,704 million euro (up by 8.3%), and the Group net ordinary income is up by 17.4% to €4,767 million euro (net of the extraordinary items in the periods under consideration): these numbers confirm Enel’s dividend policy, as announced in the Plan in November 2019.
In 2019 Enel proved to be a financially sound company
Francesco Starace, Enel CEO
Enel will therefore continue to pay the highest amount between 70% of Group net ordinary income and a minimum guaranteed dividend per share, as stated by Francesco Starace, who also pointed out that the Coronavirus crisis is not expected to have a significant impact on the results for 2020: “We are following developments closely, and any significant changes will be reported.” As regards the possible consequences of the pandemic, Enel has taken preventive measures in order to guarantee full-service continuity in every country where it operates. “Our staff and our structure are ready to face the crisis,” said the Enel CEO, who pointed out that many activities are guaranteed, thanks to the high level of process digitalization and the use of teleworking. Indeed, over 35,000 people are working remotely, including 14,700 in Italy, 6,300 in Spain, and 14,300 in the rest of the world. This percentage has risen from 4% before the health crisis to 52% since the outbreak.
At the same time, the Group has taken measures to ensure the health and security of its staff, and has asked external companies to implement the same policy. Furthermore, in order to face the Covid-19 emergency, Enel has set up a global task force to coordinate the actions in the countries where the Group is present, and 17 local task forces have been put in place in Italy. Francesco Starace said that the crisis we are experiencing will bring about profound changes and, among these, the CEO believes that the emergency will contribute to giving “a huge push to digitalisation.” In addition to the results, 2019 will be remembered for an important milestone: electrical generation from renewable sources reached 110 terawatt-hours, thus exceeding thermal generation (103 terawatt hours) for the first time ever. Globally, the Group’s energy generation from “zero emissions” sources is equivalent to 55% of its total capacity, and this percentage is set to grow further.
Enel editorial staff