Enel 2020 Profit Rose, Revenue Fell
18 März 2021 - 06:27PM
Dow Jones News
By Giulia Petroni
Enel SpA said Thursday that profit rose while revenues fell last
year, and raised its annual dividend.
The Rome-based energy company said net profit for 2020 was 2.61
billion euros ($3.11 billion), up from EUR2.17 billion the previous
year. On an adjusted basis, net profit--or net ordinary
income--came in at EUR5.20 billion.
Earnings before interest, taxes, depreciation and amortization
decreased to EUR16.82 billion from EUR17.70 billion the year
earlier. Adjusted for one-offs including acquisitions or disposals,
Ebitda--or ordinary Ebitda--was EUR17.94 billion, in line with the
company's expectations.
Revenues for the year were down 19% to EUR64.99 billion, mainly
due to lower gas and electricity sales in Italy and Spain following
the pandemic hit, lower trading activities in Italy and currency
effects in Latin America.
Overall capital expenditure last year was EUR10.20 billion,
mainly allocated toward renewables and networks, according to the
company.
Enel said it built 3.1 gigawatts of renewable installed capacity
in 2020 and aims to reach more than 5 gigawatts of new capacity in
the current year.
The company said it would propose a dividend of EUR0.358 a share
for 2020, a 9.1% increase from EUR0.328 a share in 2019.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
March 18, 2021 13:12 ET (17:12 GMT)
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