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Enel FY16 Profit Rises; Revenues Down 6.7% - Quick Facts

Enel (ENLAY.PK,EN) reported net income from continuing operations of 3.79 billion euros for fiscal 2016 compared to 3.37 billion euros, prior year. Earnings per share from continuing operations to ordinary shareholders of the Parent Company was 0.26 euros compared to 0.23 euros, last year. EBITDA was 15.28 billion euros, down 0.1% from previous year. Ordinary EBITDA was 15.17 billion euros, an increase of 0.9%.

Fiscal 2016 revenues totaled 70.59 billion euros compared to 75.66 billion euros, last year. The Group said its revenues were down 6.7% due to negative exchange rate developments, a decline in electricity trading, the deconsolidation of Slovenské elektrárne, a reduction in electricity sale prices in mature markets and lower electricity production.

The Group's proposed dividend for 2016 was 0.18 euros per share, of which 0.09 euros per share paid as interim dividend in January 2017.

Francesco Starace, Enel CEO and General Manager, said: "The Group's excellent performance in the implementation of our strategy enabled us to achieve better than expected results in 2016 and to post growth in EBITDA for the first time since 2013. The results achieved in 2016 have enabled us to increase net income by 17% over the corresponding figure for 2015 and increase the dividend pay-out to 57%."

In 2017 Enel plans to continue industrial growth, focused on networks and renewables, with a growth EBITDA target of 1.4 billion euros.

by RTTNews Staff Writer

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