Enel 2019 Earnings, Revenue Rose
February 06 2020 - 1:25PM
Dow Jones News
By Cristina Roca
Enel SpA (ENEL.MI) said Thursday that its earnings and revenue
rose in 2019.
The Rome-based company said in its preliminary results that
revenue for the year was up 6.1% to 80.3 billion euros ($88.48
billion). The rise was attributed to positive performance in the
company's infrastructure and networks division, especially in Latin
America, as well as its thermal-generation and trading division in
Italy.
Earnings before interest, tax, depreciation and amortization
came in at EUR17.7 billion, up from EUR16.3 in 2018.
Enel reported a net debt of EUR45.2 billion for the period, a
10% increase from the previous year as a result of investment
needs, the application of a new accounting standard, M&A,
adverse exchange rate developments and the payment of
dividends.
"The excellent performance registered in 2019 represents further
progress toward reaching our objectives, therefore placing us in a
strong position to achieve the targets set in our 2020-22 Strategic
Plan," said Chief Executive Francesco Starace.
Write to Cristina Roca at cristina.roca@dowjones.com
(END) Dow Jones Newswires
February 06, 2020 13:10 ET (18:10 GMT)
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