Enel Nine-Month Profit Fell; Lowers Adjusted Income Guidance
November 03 2022 - 1:39PM
Dow Jones News
By Giulia Petroni
Enel SpA on Thursday said profit fell in the first nine months
of the year and lowered its net ordinary income guidance for 2022
mainly due to a decline in the contribution of businesses in
Italy.
The Rome-based energy company reported net profit of 1.76
billion euros ($1.74 billion) for the period from EUR2.51 billion
in the year earlier. On an adjusted basis, net profit--or net
ordinary income--came in at EUR2.98 billion, down 9.5% on year from
EUR3.29 billion.
Earnings before interest, taxes, depreciation and amortization
came in at EUR12.42 billion, an increase of around 9% on year.
Adjusted for one-offs including acquisitions or disposals,
Ebitda--or ordinary Ebitda--fell to EUR12.67 billion from EUR12.77
billion.
Revenue jumped to EUR108.18 billion from EUR58.79 billion,
mainly driven by higher volumes of electricity and gas sold at
increasing average prices.
Capital expenditure increased by around 18% in the first nine
months to EUR9.31 billion, while net debt stood at EUR69.74 billion
compared with EUR51.95 billion at the end of last year. Net debt is
expected to reach a maximum of EUR62 billion in 2022.
Enel said it now expects net ordinary income in the range of
EUR5 billion-EUR5.3 billion in the full year compared with its
previous expectation of EUR5.6 billion-EUR5.8 billion. The company
backed its outlook for ordinary Ebitda of between EUR19 billion and
EUR19.6 billion, and confirmed a total dividend of EUR0.40 a share
for 2022.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
November 03, 2022 13:24 ET (17:24 GMT)
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