By Giulia Petroni

 

Enel SpA on Tuesday unveiled its strategy for the 2021-2030 period, focusing on sustainable growth and the acceleration of the energy transition.

The Rome-based energy company said it expects adjusted earnings before interest, taxes, depreciation and amortization--ordinary Ebitda--to increase at a 5% to 6% compounded annual growth rate over the next 10 years. Adjusted net income--net ordinary income--is expected to increase at a 6% to 7% compounded annual growth rate in the same period.

Ordinary Ebitda is seen coming in between 20.7 billion euros and 21.3 billion euros ($24.5 billion-$25.2 billion) in 2023, while net ordinary income is expected to be between EUR6.5 billion and EUR6.7 billion in the year.

Enel plans to mobilize investments of EUR190 billion between 2021 and 2030, aiming to boost decarbonisation and electrification. Investment will be directed toward the global power-generation business, infrastructure and networks as well as its customers business.

Around EUR70 billion will be invested in renewable energy, with a targeted renewable installed capacity of around 120 gigawatts by 2030.

Enel said its shareholders will receive an increasing guaranteed fixed dividend per share targeted at EUR0.43 in 2023, with a compound annual growth rate of around 7%.

 

Write to Giulia Petroni at giulia.petroni@wsj.com

 

(END) Dow Jones Newswires

November 24, 2020 02:41 ET (07:41 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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