Enel Raises Earnings, Dividend Forecasts; Sets 2022 Targets
26 November 2019 - 9:30AM
Dow Jones News
By Giulia Petroni
Enel SpA (ENEL.MI) raised its earnings and dividend forecasts
through to 2021 and detailed its targets for 2022 ahead of a
capital-markets day on Tuesday.
The Rome-based energy company raised its ordinary earnings
before interest, tax, depreciation and amortization targets for
2019 and 2020, saying it expects 17.8 billion euros ($19.6 billion)
and EUR18.6 billion, respectively.
This compares with Ebitda targets of about EUR17.4 billion for
2019 and EUR18.5 billion for 2020 in its previous plan.
Enel also said it expects net ordinary income of EUR5.8 billion
in 2021, up from previous estimates of about EUR5.6 billion. It
confirmed its expectations for ordinary Ebitda of EUR19.4 billion
for the same year.
Enel set new targets for 2022, saying it now expects ordinary
net ordinary income at EUR6.1 billion and ordinary Ebitda to reach
EUR20.1 billion.
The company also raised its dividend targets to EUR0.35 a share
for 2020 and EUR0.37 for a share for 2021, and said it is aiming
for a dividend of EUR0.40 a share for 2022.
Enel said it expects total organic capital expenditure for
2020-2022 to be EUR28.7 billion, a 11% increase from the 2019-2020
plan.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
November 26, 2019 03:15 ET (08:15 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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