Enel Backs 2021 Guidance Despite 1Q Earnings, Revenue Decline
By Cecilia Butini
Rome-based energy company Enel SpA said Thursday that it backed
its guidance for 2021 after earnings and revenue declined in the
first quarter of the year.
The company posted net profit of 1.18 billion euros ($1.42
billion) for the period, down from the previous year, when it was
EUR1.25 billion. On an adjusted basis, net profit was EUR1.21
billion, a 5% on-year decrease from 2020.
Earnings before interest, taxes, depreciation and amortization
were EUR4.09 billion compared with EUR4.71 billion the previous
year. Ebitda adjusted for one-offs was EUR4.16 billion, Enel
Revenue came in at EUR17.11 billion in the quarter, down from
EUR19.99 billion the year prior.
Net financial debt stood at EUR45.88 billion, compared with
EUR45.42 billion at the end of 2020, mainly due to investments and
adverse exchange rate effects, according to the company.
Enel said its renewable energy production increased in the
quarter, reaching 30.07 terawatts/hour, compared with 28
terawatts/hour in the same period the year prior.
Write to Cecilia Butini at firstname.lastname@example.org
(END) Dow Jones Newswires
May 06, 2021 12:12 ET (16:12 GMT)
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