Enel digests 10 billion in investments in 2020, a real record despite the difficult global economic situation triggered by the Covid-19 pandemic, and closes the Enel balance sheet 2020 with ordinary result up 9% to 5,197 billion. The net result is even better and improves 20% to 2,6 billion. The impact of Covid, on the other hand, is felt on the revenues down by 19,1% , already announced, but which in any case are close to 65 billion (compared to the 80,3 reached the previous year). A change due to the lower quantities of gas and electricity sold on the final markets of Italy and Spain - specifies the press release of the Enel Group, released late Thursday evening with the Stock Exchange closed - lower trading and thermoelectric production activities as well as the negative exchange rate effect in Latin America. The market has welcomed the publication of the final data of the Enel 2020 Financial Statements with a rise of 2,26% at the top of the Ftse Mib on Friday morning, in sharp contrast with the slightly down market.
The comparison with 2019 also affected the extraordinary matches, included in the previous year, such as the sale of the biomass plant in the Mercure Valley and the consideration, equal to 50 million euros, envisaged in the agreement between e-distribuzione and F2i and 2i Rete Gas for the investment in Enel Rete Gas.
THEOrdinary EBITDA remained substantially stable at 17,940 billion (+0,2%) benefiting from the positive effect obtained in the renewable generation of Enel Green Power which more than offset the negative changes in the Infrastructure and Networks operating units on the one hand, and end markets on the other. Finally, theEBITDA drops by 5% and stops at 16,8 billion against 17,7 the year before.
This is the summary of the results achieved by the Enel group in 2020 which keeps the promise of a total dividend of 35,8 cents per share (17,5 already paid as an advance in January), up 9,1% compared to 32,8 cents in 2019. And it is with this ticket that the group shows up this morning at the reopening of Piazza Affari, after a day on the Stock Exchange which penalized – Thursday – utilities and continued the sectoral rotation driven by the pressure on bond interest rates. Results that the CEO of the Enel group, Francesco Starace, commented as follows:
“Enel's results for 2020 highlight the Group's strong commitment to sustainable growth, as evidenced by the more than 10 billion euros invested during the year. Our investments are directed towards a sustainable and integrated business model, which is based on renewables, distribution and advanced energy services, leveraging the primary role of digitization and platforms. The growth in our results therefore confirms Enel's ability to create shared and sustainable value for all stakeholders. During 2021, in line with the Strategic Plan and its decarbonisation and digitization objectives, we expect to accelerate investments in renewables, in improving the quality and resilience of networks, as well as in the electrification of consumption".
The group therefore confirms the objectives for 2021 and for the subsequent years already defined in the 2021-23 Plan. In particular, the acceleration of investments in renewables in Latin America and North America, those on the distribution networks in Italy and Latam and those dedicated to the electrification of consumption are expected. The 2021 Ebitda target of between 18,7 and 19,3 billion remains unchanged with a net profit of between 5,4 and 5,6 billion and a dividend growing to 38 cents.
