Italy-based utility company Enel SpA (ENLAY) posted a decline in its profit for the year 2012, but an increase in its revenues, driven by higher revenues from the sale and transport of electricity, trading of fuels and from the sale of gas to end users.
For the year, the Group net income was 865 million euros, down 79 percent from 4.113 billion euros last year. Excluding the effect of the impairment losses on goodwill, the group said its net income fell 16.4 percent, mainly due to the decline in the results of operations.
Group net ordinary income slid by 14.9 percent to 3.455 billion euros from 4.061 billion euros reported in 2011. EBITDA declined 4.9 percent to 16.738 billion euros in the year.
For the year 2012, revenues rose 6.8% to 84.889 billion euros from 79.514 billion euros in 2011. The group attributed the increase essentially to higher revenues from the sale and transport of electricity to wholesalers and end users, higher revenues from fuel trading, as well as greater revenues from the sale and transport of natural gas to end users.
The group said it expects EBITDA of around 16 billion euros in 2013, about 16.0 billion euros in 2015; between 17 and 18 billion euros in 2017.
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