Enel Unveils 2021 Targets, Raises 2019-2020 Ebitda Targets

   By Pietro Lombardi 
 

Enel SpA (ENEL.MI) raised its 2019 and 2020 targets for ordinary earnings before interest, taxes, depreciation and amortization and presented its 2021 targets ahead of its capital-markets day Tuesday.

The Rome-based energy company expects a net ordinary income of about 5.6 billion euros ($6.4 billion) in 2021, up from an estimated EUR4.1 billion this year.

It also expects ordinary Ebitda to grow to roughly EUR19.4 billion in 2021 compared with the about EUR16.2 billion it expects for 2018.

The company raised its Ebitda target for the next two years and now expects a 2019 ordinary Ebitda of EUR17.4 billion, which should grow to EUR18.5 billion the following year. This compares with the EUR17.2 billion and EUR18.2 billion it set in its 2018 - 2020 plan.

Earlier this month, Enel reported a 15% increase in net profit in the first nine months of the year but said that its net financial debt for the year should stand at between EUR41 billion and EUR42 billion, which is EUR1 billion to EUR2 billion higher than the target it set in its 2018-20 strategic plan.

Write to Pietro Lombardi at [e-mail]

(END) Dow Jones Newswires

November 20, 2018 02:34 ET (07:34 GMT)

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