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Francesco Starace: Enel’s results for the first half of 2022

Francesco Starace confirmed Enel’s encouraging half year, with investments and revenues on the rise

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A 22.4% increase in investments (compared to the first half of 2021) to accelerate the energy transition: a need that the CEO and General Manager Francesco Starace has drawn attention to on several occasions in recent months, and that Enel translates into concrete actions, as shown by the results obtained as of June 30, 2022, and presented on July 28. Six months characterized by “an adverse geopolitical, energy and economic context which, however, did not affect the implementation of our Strategic Plan presented in November 2021,” Enel’s CEO and General Manager emphasized while commenting on the results. Enel closed the half year with revenues at 67.258 billion euros (+85.3% compared to the same period in the previous year), with an increase attributable to all business segments, mainly reflecting the greater quantities of electricity and gas sold at rising average prices and the larger quantities of electricity generated, in addition to the gain from the partial sale of the equity investment in Ufinet. Ordinary EBITDA stood at 8.298 billion euros (-1.6%), EBIT at 8.205 billion (+5.3% compared to the first half of 2021), and the Group net income at 1.693 billion (-4.8%).

“The first half of 2022 was characterized by an adverse geopolitical, energy and economic context which, however, did not affect the implementation of our Strategic Plan presented in November 2021”

Francesco Starace, Enel CEO

During the period, we increased our investments in renewable sources and distribution grids,” CEO Francesco Starace explained: 5.889 million euros invested in particular in Enel Green Power and to improve the quality of infrastructure and networks in the various countries where Enel is present. At the same time, “the commercial policies we adopted have on the one hand protected our customers from the volatility of the period, and on the other hand they have strengthened our medium and long-term objectives.” As CEO Francesco Starace pointed out, the solidity of the Group’s financial position is shown by the results for the first half of 2022: “Also in view of the persistence of a complex general framework, thanks to the visibility on the evolution of the business for the second half of the year, we confirm the guidance for 2022 and our dividend policy.

 

Enel editorial staff