Enel announces investments of over 10 billion Euro in 2020, net income up by 9 percent

The Board of Directors of Enel announced the 2020 results. Group net ordinary income reached 5.1 billion Euro, up by 9 percent (4.7 billion Euro in 2019). Enel reported EBITDA of 16.8 billion Euro, down by 5 percent.

“Enel’s 2020 results underscore the Group’s strong commitment to sustainable growth, as demonstrated by the more than 10 billion euros invested during the year,” said Francesco Starace, CEO of the Enel Group. “Our investments are directed towards a sustainable and integrated business model, which is based on renewables, distribution and advanced energy services, leveraging on the primary role of digitalization and platforms. This approach is aimed at accelerating growth both through the ‘Ownership’ model, which is focused on direct investments, and through the ‘Stewardship’ model, which envisages the involvement of third parties. Through this approach, we have further accelerated the decarbonization of the Group’s generation mix while promoting growth in the areas where we are present. The growth in our results therefore confirms Enel’s ability to create shared and sustainable value for all stakeholders. During 2021, in line with the Strategic Plan and its decarbonization as well as digitalization objectives, we plan to accelerate investments in renewables, in the improvement of the quality and resiliency of networks, and in the electrification of consumption.”