Enel Revenues and Ordinary Net Income Excluding One-Off Items Up In 9M 2017

Published on Friday, 10 November 2017

“In the first nine months of 2017, our geographical diversification and the contribution of investments in growth have enabled us to manage the ongoing global shortage of hydro and wind resources and the continuing challenges of conditions in the Iberian peninsula. We achieved an increase in revenues mainly as a result of our performance in the sale and transport of electricity, an improvement in the Group’s cash generation and an increase of 3% in ordinary net income net of one-off items. For the remainder of 2017, we will continue the acceleration of investment in digitisation, in line with which we have already installed more than a million new generation smart meters in Italy and will complete the installation of digital meters in Spain. Our growth in renewables will be boosted even further with the intensification of our BSO strategy, which has now been expanded to new countries like Mexico. In view of the progress achieved for each of the Plan objectives, the results posted in the first nine months of the year and forecast developments in the last quarter, we can confirm our performance and financial targets for 2017”

– Francesco Starace, Chief Executive Officer and General Manager of Enel

Revenues: 54,188 million euros (51,459 million euros in 9M 2016, +5.3%)

  • Increasing thanks to greater revenues from the sale of electricity to end users and the transport of electricity, from more electricity trading and fuel sales, only partly offset by the impact of changes in the scope of consolidation

 

EBITDA: 11,450 million euros (12,010 million euros in 9M 2016, -4.7%)

  • Decreasing owing to a decline in margins in Iberia, which more than offset the strong performance in Italy, especially in retail, and positive exchange rate developments

 

Ordinary EBITDA: 11,306 million euros (11,896 million euros in 9M 2016, -5.0%) net of extraordinary items relating to disposals

  • Net of one-off items, ordinary EBITDA declined by 2.6% on a like-for-like basis

 

EBIT: 7,217 million euros (7,689 million euros in 9M 2016, -6.1%)

  • Reflects the decrease in EBITDA, partly offset by lower amortisation and impairment

 

Group net income: 2,621 million euros (2,757 million euros in 9M 2016, -4.9%)

  • The decline reflected the decrease in EBIT, only partly offset by the good performance of companies accounted for using the equity method, the reduction in the tax liability and a decline in net financial expenses

 

Group net ordinary income: 2,583 million euros (2,700 million euros in 9M 2016, -4.3%)

  • Net of one-off items, Group net ordinary income increased by 3% on a like-for-like basis

 

Net financial debt: 37,941 million euros (37,553 million euros at the end of 2016, +1.0%)

  • The increase reflects acquisitions such as Celg-D and EnerNOC as well as investments in the period, and the payment of the interim dividend and related balance dividend for 2016, partly offset by an increase in operating cash flows and by exchange rate developments

 

Interim dividend for 2017 of 0.105 euros per share approved, payment from January 24th, 2018, up 16.7% on the interim dividend paid in January 2017

  • The Enel Board of Directors confirms the interim dividend policy envisaged in the Strategic Plan 2017-2019
  • Foreseen for 2017 an overall dividend per share of 0.23 euros, equivalent to 65% of Group net ordinary income expected for 2017