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Enel FY17 Revenues Up

Enel SpA Wednesday reported full-year 2017 ordinary EBITDA of 15.6 billion euros, up 2.6% from 15.2 billion euros in 2016.

The increase in EBITDA was driven largely by Italy and South America, which more than offset the negative impact from the variation in the scope of consolidation, mainly attributable to the deconsolidation of the Slovakian assets.

Revenues for the year rose 5.8 percent to 74.7 billion euros from 70.6 billion euros in 2016.

Revenue growth reflects increase in revenues from electricity sales to end users, from the transport of electricity and from electricity trading and fuel sales.

"We are especially pleased with the preliminary results for 2017, achieved in a persistent challenging environment throughout the year. This is testament to how geographical diversification and the effective implementation of a sustainable long-term strategy have made us a resilient organisation. Ordinary EBITDA and the level of net debt both showed improvement compared with the targets announced last November despite reduced water and wind resource availability during the year," said Enel CEO and General Manager Francesco Starace.

"The solid results posted in 2017 allow us to confirm the plan targets for 2018, continuing the implementation of our strategy for 2018 to 2020."

by RTT Staff Writer

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