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ENEL 2013 Group Net Profit Spikes; Presents 2014-2018 Business Plan

Enel S.p.A. (ENLAY.PK,EN) reported a sharp surge in 2013 Group net income to 3.235 billion euros, or 0.34 euros per share, from last year's 238 million euros, or 0.03 euros per share, essentially due to the gain on the sale of Arctic Russia, the effects of the writedowns in goodwill during the two periods compared, the adjustment as a result of the initial application of the new IAS 19 and the improvement in financial operations.

Group net ordinary income in 2013 came to 3.12 billion euros, up 10.3% on the 2.83 billion euros reported in 2012. EBITDA amounted to 17.01 billion euros in 2013, up 7.6% compared with last year.

In 2013, revenues totaled 80.535 billion euros, 5.2% lower than the prior-year restated figure of 84.95 billion euros, reflecting lower revenues from the sale of electricity, which was essentially attributable to lower quantities sold, only partially offset by greater revenues from the transport of electricity and the sale of fuels.

Commenting on the 2014-2018 business plan, the company said it expects EBITDA of around 15.5 billion euros in 2014, around 16.5 billion euros in 2016 and about 18 billion euros in 2018. Looking ahead, Group net ordinary income is expected to be about 3 billion euros in 2014, around 3.7 billion in 2016 and nearly 4.5 billion in 2018.

In addition, the company proposed a total dividend of 0.13 euros per share for 2013.

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