Enel Announce EBITDA of €17.4 billion
Revenues: 57,634 million euros (69,534 million euros in the nine months of 2023, -17.1%)
The change primarily reflects a decrease in the quantities of electricity from thermal generation produced and in quantities of electricity and gas sold on end-user markets in a context of declining prices, together with the impact of changes in the scope of consolidation between the two periods under review. These factors were partly offset by the positive contribution of sales of renewable energy and the performance of distribution grid operations
· Ordinary EBITDA: 17,449 million euros (16,386 million euros in the nine months of 2023, +6.5%)
The trend is attributable to the positive contribution of the integrated businesses, led by the performance of renewable energy, which benefited from the progressive normalization of the commodity market, as well as from good renewable resource availability, amply offsetting the contraction in the margin in end-user markets and thermal generation. Net of changes in the scope of consolidation, the contribution of distribution grid operations was also positive as a result of higher investment volumes
· EBITDA: 18,595 million euros (15,220 million euros in the nine months of 2023, +22.2%)
· Group net ordinary income: 5,846 million euros (5,033 million euros in the nine months of 2023, +16.2%)
– The increase is mainly attributable to the positive performance of ordinary operations, together with a reduction in net financial expenses and a decrease in the incidence of non-controlling interests
· Group net income: 5,870 million euros (4,253 million euros in the nine months of 2023, +38%)
· Net financial debt: 58,153 million euros (60,163 million euros at the end of 2023, -3.3%)
The positive cash flow generated by operations and the collection of the proceeds relating to asset disposals carried out as part of the program of deleveraging and rationalization of the Group’s geographical presence more than offset the needs generated by capital expenditure for the period and by the payment of dividends
· Approval of interim dividend for 2024 of 0.215 euros per share, in payment from January 22nd, 2025
– The dividend policy, in line with the 2024-2026 Strategic Plan, foresees a fixed minimum dividend per share of 0.43 euros for 2024, with a potential increase of up to a 70% payout on Group net ordinary income if Group cash flow generation as well as financial solidity objectives are achieved
· Confirmed guidance for 2024 of ordinary EBITDA between 22.1 and 22.8 billion euros and net ordinary income between 6.6 and 6.8 billion euros
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