Italian Enel’s Net Profit Declines In The First Half Of 2021

The net profit of Italian energy concern Enel, attributable to shareholders of the parent company, decreased by 8.7% in the first half of 2021 compared with the same period last year, to €1.78 billion, the company said in a statement.

Enel’s revenues fell 10.6% to €29.85 billion in the reporting period. Diluted earnings per share attributable to shareholders of the parent company amounted to €0.17 against €0.19 a year earlier.

EBITDA fell by 10.7 percent to €7.72 billion for the half-year. Net financial debt amounted to €50.42 billion in the reporting period.

The company notes that net income and revenues in the first half of the year fell mainly due to thermal generation and trading activities on the back of lower trade volumes in Italy and the negative exchange rate impact in Latin America.

Enel still maintains its financial targets for 2021 and expects EBITDA of €18.7-19.3 billion and net income of €5.4-5.6 billion.

source: bloomberg.com

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