Enel ends the first quarter with net profits down 15,1% year-on-year to 1.003 million euros. In the same period, revenues amounted to 21.193 million, for an increase of 1.657 million euros (+8,5%) compared to the same period of 2011. Ebitda fell by 2,2%, to 4.302 million, l 'Ebit of 4,4%, to 2.902 million. Investments reached 1.314 million euros, for an increase of 16,1%, particularly concentrated in the Renewable Energy and Infrastructure and Networks Divisions. By mid-morning, Enel shares gained 0,73% in Piazza Affari.
“The negative trend of the economy that characterized last year continued also in the first quarter of 2012 – commented Fulvio Conti, CEO of the Group -, with a drop in demand which mainly affected Italy and Spain, in part offset by the growth of the markets in Latin America, Russia and Eastern Europe. In this context, the results for the period were more favorable than our forecasts and substantially in line with those of last year. The managerial actions implemented, in terms of both optimizing investments and recovering efficiencies and cost savings, will allow Enel to achieve all the objectives already indicated for 2012, despite the negative effects of the regulatory measures introduced up to now in Spain”.
Electricity sales of the group in the first three months of 2012 amounted to 82,5 TWh, with an annual increase of 3,1%, entirely attributable to sales abroad. Gas sales to end customers amounted to 3,4 billion cubic metres, up slightly (+0,1 billion cubic metres) mainly due to higher consumption recorded in foreign markets.
