By Giulia Petroni and Joshua Kirby

Enel SpA said late Thursday that revenue increased in 2021 thanks to increases across business divisions, and that earnings rose at a more modest rate.

According to preliminary results, the Rome-based energy company made earnings before interest, taxes, depreciation and amortization of 17.6 billion euros ($20.1 billion), an increase of 4.1% compared with 2020. Adjusted for one-offs such as corporate reorganization and pandemic-related costs, ordinary Ebitda came in at EUR19.2 billion, including a gain made from the sale of a stake in Open Fiber SpA last year, Enel said.

Revenue for the year came in much higher at EUR88.3 billion, rising 34% on year, thanks to higher revenue in divisions including infrastructure & networks, green power, thermal generation & trading, and solutions provider Enel X.

Enel reported net debt of EUR52 billion at year-end, climbing from EUR45.4 billion the previous year as a result of investment, dividend payments and the acquisition of further stakes in subsidiary Enel Americas, the company said.

Write to Giulia Petroni at giulia.petroni@wsj.com and to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby

(END) Dow Jones Newswires

February 04, 2022 01:27 ET (06:27 GMT)

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