Enel sees 2020 EBITDA unmodified, incomes down 19.1%.
- Italian energy giant Enel SpA (BIT: ENEL) on Thursday released initial results for 2020, showing that, at EUR 17.9 billion (USD 21.4 bn), regular EBITDA stayed unchanged contrasted to the exact same period a year prior.
The saving grace were Enel Green Power, which grew profits on the back of greater hydropower outputs in Italy and also brand-new capability in Spain and North America, as well as Enel's thermoelectric generation and also trading company.
The growth of the renewables and thermal power segments was offset by the reduction in infrastructure and networks operations, generally in Latin America, and also a decrease in the margin on end-user markets, Enel stated.
With amazing purchases consisted of, EBITDA stood at EUR 16.8 billion, down 5.1% year-on-year.
The team's incomes dropped by 19.1% to EUR 65.0 billion on reduced sales of gas and electrical energy in Spain and also Italy as a result of the COVID-19 pandemic, which additionally lowered quantities of transferred power, and also damaging exchange rates in Latin America.
At the end of 2020, Enel's internet economic debt expanded by 0.4% to EUR 45.1 billlion as a result of investments, returns settlement and the purchase of added stakes in Chilean companies Enel Americas sa (NYSE: ENIA) and also Enel Chile.
In 2020, the team's power plants created at overall of 207.1 TWh of power, below 229.1 TWh a year ago. In markets outside Italy, Enel created 164.6 TWh, compared to 182.2 TWh in 2019. Reduced numbers were additionally recorded across the team's distribution as well as retail organizations.
