Enel, the Rome-based energy company, has announced a significant increase in profit for the first nine months of the year. Net profit soared from EUR1.76 billion to an impressive EUR4.25 billion, marking a more than doubling in profit. When adjusted, net profit climbed by 65% to reach EUR5.03 billion.
Earnings before interest, taxes, depreciation and amortization (Ebitda) also experienced substantial growth, jumping 23.5% to EUR15.22 billion. After adjusting for one-offs, Ebitda surged by 29% and reached EUR16.39 billion.
Although revenue decreased from EUR105.52 billion to EUR69.53 billion due to lower average sale prices, Enel continues to perform well financially. The company’s capital expenditure fell slightly by 5.9% to EUR8.76 billion, and its net financial debt increased to EUR63.31 billion from EUR60.07 billion at the end of 2022.
Enel’s positive financial results have led to an increase in its interim dividend, with the company approving an interim dividend of EUR0.215 per share, a rise of 7.5% compared to the previous distribution in January.
Looking ahead, Enel has raised its guidance for the year. The company now expects net ordinary income between EUR6.4 billion and EUR6.7 billion, and ordinary Ebitda between EUR21.5 billion and EUR22.5 billion. This revised guidance surpasses the previous estimates of net ordinary income between EUR6.1 billion and EUR6.3 billion, and ordinary Ebitda between EUR20.4 billion and EUR21 billion.
Enel’s impressive financial performance reflects its ability to adapt to changing market conditions and maintain a strong presence in the energy industry.