Enel 1Q Profit Broadly Flat; Confirms 2020-22 Targets
May 06 2020 - 12:29PM
Dow Jones News
By Giulia Petroni
Enel SpA said Wednesday that net profit was broadly flat in the
first quarter and confirmed the targets outlined in its 2020-22
strategic plan.
The Rome-based energy company said net profit for the period was
1.25 billion euros ($1.36 billion) from EUR1.26 billion in the
previous year. On an adjusted basis, net profit increased 10.5% on
year to EUR1.28 billion.
Earnings before interest, tax, depreciation and amortization
came in at EUR4.71 billion from EUR4.55 billion in the year-earlier
period. Adjusted for one-offs including acquisitions or disposals,
Ebitda came in at EUR4.74 billion.
Revenue for the quarter decreased 12.2% to EUR19.99 billion from
EUR22.76 billion in the previous year. The fall was partly
attributed to lower volumes of electricity sales in Italy and
Spain, reduced trading activities and adverse exchange-rate
effects.
Enel reported a net debt of EUR47.10 billion for the period, a
4.3% increase from the previous year as a result of
investments.
The company said the coronavirus pandemic only had a limited
impact on business in the first quarter of the year and reiterated
its goals for the 2020-22 period.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
May 06, 2020 12:14 ET (16:14 GMT)
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