Enel 2017 Revenue Rises, Helped by Geographical Diversification

   By Marc Bisbal Arias 
 

Enel SpA (ENEL.MI) said Wednesday that its 2017 revenues rose on year, and attributed it to the company's geographical diversification and long-term strategy.

Revenue was 74.7 billion euros ($91.9 billion) compared with EUR70.6 billion in the year-earlier period. Earnings before interest, taxes, depreciation and amortization rose slightly to EUR15.7 billion. This compares with EUR15.3 billion in 2016.

Chief Executive Francesco Starace said the implementation of a sustainable long-term strategy, paired with geographical diversification, have helped Enel be more resilient in a challenging environment.

"The growth in renewables, efficient cost management and the positive performance of retail business in Italy and distribution in South America enabled us to counter this decrease in hydro and wind resource availability in our major markets," Mr. Starace said.

Net financial debt at the end of 2017 was slightly lower at EUR37.4 billion, Enel said.

The Italian company backed its targets for 2018.

Write to Marc Bisbal Arias at [e-mail]

(END) Dow Jones Newswires

February 14, 2018 09:07 ET (14:07 GMT)

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