Enel posts EBITDA of 13.2 billion Euro, up by 8.9 percent in the first nine months of 2019

Enel Group posted its financial results for the first nine months of 2019, with its EBITDA reaching 13.2 billion Euro, up by 8.9 percent compared to the same period of 2018.

Revenues were at 57.1 billion Euro, an increase of 3.4 percent over the last year. The increase was mainly attributable to the activities of Infrastructure and Networks, especially in Latin America thanks to the contribution of Enel Distribuição São Paulo in Brazil and the settlement of pending regulatory issues in Argentina, as well as to Thermal Generation and Trading activities, mainly in Italy.

Francesco Starace, Enel CEO and General Manager, said: “The positive performance recorded in the first nine months of 2019 demonstrates the solidity of Enel’s integrated business model, which made it possible to increase the Group’s net ordinary income by 14% and ordinary EBITDA by 11%.

During the period, the Group also accelerated its investments to over 6 billion euros, 84% of which dedicated to renewables and grids, fuelled by a strong cash generation that will continue to support our medium and long-term growth ambitions. Furthermore, in these nine months the Group expanded by 24% its investments in asset development, which are fully addressed for 2019 and 2020, offering full visibility on the achievement of our industrial objectives.”