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The group confirms the forecasts for 2018 and is positioned as a world leader in renewable energies with 3.4 GW of new capacity placed on the network in the world. The net result reaches 2 billion. The margin is growing in Italy, Spain and the United States. Debts increase by 4 billion for the acquisitions of Eletropaulo and Ufinet, the interim dividend and for the investments
Enel closes the accounts of the first half with a profit up by 4, 6% to 1.89 billion and is confirmed world leader in renewable energies. The group led by Francesco Starace improved its EBITDA (+ 2.3% to 7.8 billion) thanks to the organic growth of renewable energies, the tariff increases for the benefit of the distribution in Argentina and Spain, and the Marginally improved end markets in Spain and Romania, factors that more than offset the negative exchange rate effect in South America, says the group note. Net profit exceeds 2 billion euros (+ 9.4%) thanks to lower financial charges due to the reduction of the tax burden
Debts rise to 41.59 billion euros 39; euros (versus 37.4 at the end of 2017) following the acquisitions (Eletropaulo and Ufinet), dell'Opa on Enel Generación Chile, related to the process of reorganization of the Chilean holdings, the payment of the interim dividend and to the investments of the exercise.
Instead, they exceeded 36 billion records a modest decrease of 288 million compared to the previous half, due to the effect of foreign exchange, the decline in sales especially in Spain, the decline in trade in Italy impacted by intermediate prices and quantities and the fall in prices in Chile. in Italy (-1.6%), in Iberia (-2.7%) and in Europe (-2.1%), in the United States (+ 52.3%), in America in sub-Saharan Africa. However, margins in Italy, Spain and North America improved
Investments decreased by 351 million euros compared to the same period of 2017 mainly due to lower energy expenditure wind power and solar in Brazil and Peru and North America following the completion of the factories under construction in the first half of 2017. However, this reduction was offset by an increase in distribution network spending in Italy and Spain (+ 33% and + 51%, respectively) for activities related to quality of service and installation of electronic meters
In the light of these data and the outlook for the second semester, Francesco Starace confirmed the objectives for 2018. "Enel has further increased its gross operating margin – commented on Ad – especially because of the effect of renewable energies.Between June 2017 and June 2018, we put 3, 4 GW of new renewable capacity globally on the grid, setting a new record of installed capacity in twelve months among all companies in the sector ". Francesco Starace also pointed out "two important operations: the acquisition of the Brazilian distribution company Eletropaulo and a stake in the Ufinet International ultra-wideband wholesale operator, thereby consolidating our position as a global leader in the sector infrastructures".
Still in light of expectations over the six-month, publicly traded period, Enel closed up 1.42% to 4.77 euros in Piazza Affari.
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