Enel Backs 2021 Guidance Despite 1Q Earnings, Revenue Decline

By Cecilia Butini

Rome-based energy company Enel SpA said Thursday that it backed its guidance for 2021 after earnings and revenue declined in the first quarter of the year.

The company posted net profit of 1.18 billion euros ($1.42 billion) for the period, down from the previous year, when it was EUR1.25 billion. On an adjusted basis, net profit was EUR1.21 billion, a 5% on-year decrease from 2020.

Earnings before interest, taxes, depreciation and amortization were EUR4.09 billion compared with EUR4.71 billion the previous year. Ebitda adjusted for one-offs was EUR4.16 billion, Enel said.

Revenue came in at EUR17.11 billion in the quarter, down from EUR19.99 billion the year prior.

Net financial debt stood at EUR45.88 billion, compared with EUR45.42 billion at the end of 2020, mainly due to investments and adverse exchange rate effects, according to the company.

Enel said its renewable energy production increased in the quarter, reaching 30.07 terawatts/hour, compared with 28 terawatts/hour in the same period the year prior.

Write to Cecilia Butini at [e-mail]

(END) Dow Jones Newswires

May 06, 2021 12:12 ET (16:12 GMT)

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