logo
  

Enel Sees Significant Earnings Growth By FY25; Stock Up

Shares of Enel S.P.A (ENLAY.PK,EN) were gaining around 2 percent in the morning trading in Italy after the electricity and gas company Tuesday issued its 2023-2025 Strategic Plan, expecting significant growth in earnings.

For fiscal 2023, the company projects Group net ordinary income of 6.1 billion euros to 6.3 billion euros and Group Ordinary EBITDA of 20.4 billion euros to 21 billion euros.

The outlook is higher than the estimated fiscal 2022 Group net ordinary income of 5.0 billion euros to 5.3 billion euros and Group Ordinary EBITDA of 19.0 billion euros to 19.6 billion euros.

Further, for fiscal 2024, Group net ordinary income is expected to be 6.7 billion euros to 6.9 billion euros and Group Ordinary EBITDA is expected to be 21.4 billion euros to 22 billion euros.

In 2025, Group net ordinary income is expected to reach 7.0 billion euros to 7.2 billion euros, and Group Ordinary EBITDAis expected to reach 22.2 billion euros to 22.8 billion euros.

The company said it expects to concentrate on integrated value chain pursuing sustainable electrification, covering approximately 90 percent of its fixed price sales with carbon-free electricity in 2025.

The company also projects to strategically reposition businesses and geographies, with a disposal plan worth around 21 billion euros in terms of positive contribution to the reduction of Group Net Debt.

The bulk of this plan is expected to be rolled out by the end of 2023, resulting in a more agile company focused on six "core countries.

Towards its aims, between 2023 and 2025, Enel expects to invest a total of around 37 billion euros, of which 60 percent supporting the Group's integrated commercial strategy, and 40 percent allocated to grids to support their role as enablers of the energy transition

CEO and General Manager of Enel said, "In the next three years, we will focus on integrated business models, digital know-how as well as businesses and geographies that can add value despite the current challenging scenario... Sustainability, which is fully embedded into our decisions, continues to be at the foundation of our Strategy, also leveraging on the acceleration of electrification across economies."

In Italy, Enel shares were trading at 5.19 euros, up 2 percent.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Integrated energy company Chevron reported Friday that profit for the fourth quarter increased 25 percent from last year, reflecting 17 percent revenue growth amid higher realizations and higher margins on refined product sales. Adjusted earnings per share missed analysts' estimates, while quarterly revenues topped it. Reno, Nevada-based ZLINE Kitchen and Bath has expanded its recall of gas ranges citing serious risk of injury or death from carbon monoxide poisoning, the U.S. Consumer Product Safety Commission announced. The recall now includes about 30,000 units of ZLINE gas ranges, including about 28,000 units... The Food and Drug Administration's independent advisory committee unanimously recommended replacing the current original COVID vaccines used in the U.S. for primary shots with new bivalent omicron shots authorized as boosters, reports said. The committee also considered the proposal for annual COVID vaccination, however, didn't vote on it.
RELATED NEWS
Follow RTT