Enel’s net income up 17% in 2016

Published on Friday, 17 March 2017

“The Group’s excellent performance in the implementation of our strategy enabled us to achieve better than expected results in 2016 and to post growth in EBITDA for the first time since 2013. The results achieved in 2016 have enabled us to increase net income by 17% over the corresponding figure for 2015 and increase the dividend pay-out to 57%. Cash generation improved significantly, enabling us to bring FFO/net debt to 26% at the end of 2016, in spite of record investments for around 9 billion euros carried out during the year. For 2017, we plan to start our investments in digitisation and we foresee early contributions from our customer focus strategy on a global scale. Digitisation will enable us to achieve significant progress in operational efficiency and we will continue our industrial growth, focusing on networks and renewables, with a growth EBITDA target of 1.4 billion euros for the year. Our aim is to become a leaner and more efficient Group and to this end we are focused on the second phase of the corporate simplification at the individual country level in Latin America, while continuing with the active management of our asset portfolio”

– Francesco Starace, Enel CEO and General Manager