Day of meetings for Enel and Leonardo.
“The solid results of 2018 support good prospects for the years to come”. During the meeting, the CEO of Enel, Francesco Starace, reiterated the confirmation of the 2019 guidance, also giving investors excellent news: "We expect both earnings per share and the dividend to grow by another 18%" , said the manager who then addressed the shareholders: “The focus remains concentrated on organic growth, efficiency and simplification of the structure to make the group more profitable and eliminate risk profiles” he added.
As regards the performance of the Stock Exchange, the president of Enel, Patrizia Grieco, underlined how the group has "managed to achieve all the set objectives reflected in the performance of the stock which, after a start to 2018 characterized by a decline not attributable due to industrial and economic factors, it recorded an increase in value, currently equal to approximately +8,7% compared to the end of 2017; result in line with the sector index (Eurostoxx Utilities +10,4%) and significantly higher than that of the FtseMib (-4,5%)”.
“If we also consider the dividends distributed – he continued – the value created for shareholders was over 17%”. A positive performance, underlines Grieco, confirmed “by looking at the trend of the weighted average growth rate associated with the share performance of the top 100 utilities by capitalization at a global level. In the period 2014-2018, the Enel share recorded an average annual growth of 10% against a global average increase of 4% and a European average of around 5%.
Speaking of Leonardo, the assembly approved the 2018 financial statements, which closed with a net profit of 510 million euros (+83% compared to 2017). By virtue of the approved dividend, equal to 0,14 euros per share, Leonardo issues a check for 30,2 million to the Treasury (which holds 24,4% of the share capital).
“In 2018 we made important steps forward towards the implementation of the business plan. The 2018 results, in terms of orders and revenues, are better than the objectives of the 2022 plan and in 2019 we expect a further increase in revenues and EBITDA and an increase in expected cash generation of around 200 million", stated the 'to Alessandro Profumo who, for the helicopter sector, confirmed "the forecast of double-digit profitability in 2020" and underlined how the company is "well positioned to seize growth opportunities". He also confirmed the goal of eliminating the group's net debt based on the achievement of an 'investment grade' level as regards the group's rating.
On the sidelines of the meeting, the CEO Alessandro Profumo also confirmed his interest in Piaggio Aero: "We made an expression of interest in the engine maintenance and vehicle maintenance sector" of Piaggio Aero. “The expression of interest was submitted by itself,” he said.
