The coronavirus effect does not stop Enel which closes the first quarter of 2020 with ordinary net income equal to 1,281 billion euro, up 10,5% compared to the same period of the previous year. Confirmed the dividend that will be paid in July.
Il Net income of the group stands at 1,247 (-0,7%), while i revenues down to 19,985 billion euros, marking a drop of 12,2% compared to the first three months of 2019. The decline in turnover, explains the group, "is mainly attributable to the lower volumes of electricity sales in Italy and Spain and gas in Spain, the Thermoelectric Generation and Trading activities in Italy due to the lower trading activity and the effects associated with the application of the Ifric interpretations, as well as the negative exchange rate effect in particular in Brazil, Chile and Colombia”.
up theebitda, which rises by 3,5% from 4,54 to 4,708 billion euros (+6,4% the ordinary one to 4,454 billion), while theebit is equal to 3,109 billion euro (+4,3%). Ebitda in the first quarter of 2020 was affected by extraordinary items - notes Enel's note - "connected to the COVID-19 epidemic for sanitization of workplaces, personal protective equipment and donations for a total amount of 33 million EUR". On the other hand, the capital gain for the sale of Mercure (biomass plant in Italy) had an impact on 2019. Ordinary Ebitda, on the other hand, benefited from the positive performance ofInfrastructures and networks (+132 million up 7%), of the improved Thermal generation and Trading (+194 million of which +165 in Spain). The margin relating to i also grew final marketsthe operating performance of Enel Green Power.
On the financial front, CFO Alberto De Paoli explained in a conference call that Enel "has 25,9 billion in liquidity available as of April 30, 2020, of which 5,8 billion in liquidity and 20,1 billion in credit lines" and "a balance sheet solid to withstand volatile scenarios”.
THEnet financial debt it grew to 47,097 billion (+4,3% from 45,175 billion at the end of 2019), an increase, explains Enel, also due to the investments in the period.
La production of electricity from renewable sources, also including volumes from managed capacity, was significantly higher than thermoelectric capacity, reaching 28 TWh (25,6 TWh in the first quarter of 2019, +9,3%), against a production from thermoelectric sources of 18,8 .29,3 TWh (2019 TWh in the first quarter of 35,9, -XNUMX%). The Enel's energy mix is now 64% zero emissions.
"There is currently no evidence of significant impacts on the group deriving from the state of emergency connected to the Covid-19 epidemic”, underlines Enel in a note. The company also explains that it has launched "constant monitoring of the impacts that this state of emergency may have on macroeconomic and business variables in order to have the best estimate of the potential impacts on the group in real time and allow for the mitigation of the latter through plans of reaction or contingency".
On the day of the presentation of the quarterly report, which took place with the Stock Exchange closed, the Enel title it closed at -0,34% at 6,067 euros when the Ftse Mib closed down by 1,34%.
