Enel 1Q Profit Rose, Backs 2022 Guidance

By Giulia Petroni

Enel SpA on Wednesday said that first-quarter results came in line with expectations despite a challenging environment and backed its full-year guidance.

The Rome-based energy company reported a quarterly net profit of 1.43 billion euros ($1.50 billion) from EUR1.18 billion in the same period a year earlier. On an adjusted basis, net profit--or net ordinary income--came in at EUR1.44 billion.

Earnings before interest, taxes, depreciation and amortization were EUR4.45 billion from EUR4.13 billion. Adjusted for one-offs including acquisitions or disposals, Ebitda--or ordinary Ebitda--came in at EUR4.49 billion.

Revenue rose to EUR34.96 billion in the quarter from EUR18.49 billion in the previous year.

Investments increased 24.5% on year to EUR2.53 billion, mainly directed toward renewables and networks, while net debt stood at EUR59.13 billion from EUR51.95 billion at the end of last year.

Enel confirmed it expects ordinary Ebitda of between EUR19 billion and EUR19.6 billion and net ordinary income of EUR5.6 billion-EUR5.8 billion in the full year.

Write to Giulia Petroni at [e-mail]

(END) Dow Jones Newswires

May 04, 2022 12:15 ET (16:15 GMT)

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