Enel 2019 Earnings, Revenue Rose

   By Cristina Roca 
 

Enel SpA (ENEL.MI) said Thursday that its earnings and revenue rose in 2019.

The Rome-based company said in its preliminary results that revenue for the year was up 6.1% to 80.3 billion euros ($88.48 billion). The rise was attributed to positive performance in the company's infrastructure and networks division, especially in Latin America, as well as its thermal-generation and trading division in Italy.

Earnings before interest, tax, depreciation and amortization came in at EUR17.7 billion, up from EUR16.3 in 2018.

Enel reported a net debt of EUR45.2 billion for the period, a 10% increase from the previous year as a result of investment needs, the application of a new accounting standard, M&A, adverse exchange rate developments and the payment of dividends.

"The excellent performance registered in 2019 represents further progress toward reaching our objectives, therefore placing us in a strong position to achieve the targets set in our 2020-22 Strategic Plan," said Chief Executive Francesco Starace.

Write to Cristina Roca at [e-mail]

(END) Dow Jones Newswires

February 06, 2020 13:10 ET (18:10 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.