8th May 2019 17:37
LONDON (Alliance News) - Enel SpA has approved its first quarter report posting a net profit of EUR1.2 billion compared to EUR1.1 billion in the same quarter of 2018.
Total revenue for the first quarter of 2019 ended March 31 amounted to EUR20.9 billion recording an increase of EUR1.9 billion against the same period of 2018, when it came in at EUR18.9 billion.
Earnings before interest, taxes, depreciation and amortisation was EUR4.6 billion compared to EUR4.0 billion in the first quarter of 2018.
Meanwhile, earnings before interest, taxes amounted to EUR3.0 billion compared to EUR2.6 billion in the same period of the previous year.
"In the first quarter of 2019, we registered excellent results confirming the growth path that we are pursuing so far as well as the outstanding performance posted by all business lines," Enel's Chief Executive Officer Francesco Starace said.
"In 2019, we envisage an acceleration in capex with a particular focus on renewables in North America, as well as continuing our strong investment in networks, mainly in Italy and South America, whereas cash flow generation is expected to remain solid throughout the period. This good start to the year enables us to confirm the guidance for full year 2019," Starace added.
Enel shares closed 0.5% lower at EUR5.58 each on Wednesday.