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Francesco Starace: Enel’s results for 2020

Group net ordinary income is around 5,197 million euros (+9% compared to 2019).

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Enel’s 2020 results reflect “the Group’s strong commitment to sustainable growth”. CEO Francesco Starace underscored this conclusion, which is supported in particular “by the more than 10 billion euros invested during the year”, a figure up by 2.5% compared to 2019: “Enel’s investments are directed towards a sustainable and integrated business model, which is based on renewables, distribution and advanced energy services, leveraging the primary role played by digitalization and platforms”.

Group net ordinary income for last year is at around 5,197 million euros (+9% compared to 2019), while net income is up by 20.1% to 2,610 million euros, “due in particular to higher value adjustments made in 2019, improvements in financial management and lower third-party interests”. The pandemic mainly impacted gas and electricity sales in Italy and Spain: as of December 31, 2020, these revenues were at 64,985 million euros (-19.1%) – partly due to a decrease in trading activities and to adverse exchange rates in Latin America. These numbers allow the Group to propose a total dividend of 0.358 euros per share (of which 0.175 euros were already paid as an interim dividend in January 2021), with a 9.1% increase compared to 2019. In the current difficult scenario, the growth in the Group’s results further confirms “Enel’s ability to create shared and sustainable value for all stakeholders”.

“The growth of our results therefore confirms Enel’s ability to create shared and sustainable value for all stakeholders”

Francesco Starace, Enel CEO

Commenting on the results, CEO Francesco Starace also pointed out that Enel’s sustainable approach is aimed at “accelerating growth both through the ‘Ownership’ model, which is focused on direct investments, and through the ‘Stewardship’ model, which entails the involvement of third parties”. In this way, “on top of promoting growth in the areas where we are present, we have further accelerated the decarbonization of the Group’s generation mix”. As Francesco Starace remarked, “acceleration” is the keyword, also for 2021: “In line with the Strategic Plan and its decarbonization and digitalization targets, we plan to accelerate investments in renewables, in the improvement of network quality and resilience, and in the electrification of consumption”.

 

Enel editorial staff