Robin Hood Tax effect on Enel accounts. The group closed the first half of 2012 with a net profit of 1,82 billion, down by 28,6% and a net ordinary profit of the group at 1,64 billion, down by 28,9%. The decline, explains the company, was affected by the application to the accounts "of the changes introduced in Italy in the second half of 2011 to the so-called Robin Hood Tax". Revenues increased slightly to 40,69 billion (+6%), substantially thanks to the increase in the sale of electricity in the markets in which the international division operates and in Latin America. Ebitda decreased to 8,28 billion (-7,2%) impacted by non-recurring extraordinary operations in the first half of 2011 and changes in the perimeter. Net of these income, EBITDA in the first half of 2012 decreased by 2,7%. Ebit (-12%) fell to 5,34 billion and discounted higher depreciation and impairment losses of 84 million euro. Investments in the six months amounted to 2,76 billion euro. Debt rose by 6,6% to 47,57 billion from 44,62 billion.
The negative performance of the mature European economies had an impact in the six-month period, in particular Italy and Spain where both GDP and industrial production confirmed their unfavorable trend which is expected to continue for the rest of the year. On the other hand, the emerging markets of Eastern Europe, Russia and Latin America are doing well, continuing to record a positive growth trend. The group explains: "geographical and technological diversification, the operational efficiency programs already underway, the optimization of investments and the rationalization of the corporate structure in Latin America, can make it possible to minimize the negative impacts that the aforementioned unfavorable economic situation and the current Spanish regulatory uncertainty may generate on the results of the group”.
