Enel’s management confirmed the financial targets for the year 2022.
Is in the announced the financial results for the 1st quarter of 2022, a period which saw a strong increase in revenues and an improvement in profitability. Debt is also growing.
The management of Enel confirmed the financial targets for the year 2022.
Enel, the accounts for the 1st quarter of 2022
The electric giant ended the period under review with revenues up 89.1%: the turnover of the electricity giant went from 18.49 billion (revised figure) to 34.96 billion euros. Enel specified that the change is attributable to all business sectors, mainly due to the greater quantities of electricity produced and sold at increasing average prices. “The change is also affected by the income realized from the partial sale of the investment in Ufinet”, added the management.
The ordinary gross operating margin, which rose from 4.2 billion (revised figure) to 4.49 billion euro (+ 6.8%). Enel reported that the increase in the margin due to the higher quantities produced from conventional sources, together with the positive effects of the new installed renewable capacity and the results of the management of price risk on commodities, more than offset the negative effects of generation from hydroelectric sources. due to poor water supply and higher procurement costs on end markets.
L’ordinary net profit it grew by 18.9%, going from 1.21 billion to 1.44 billion euros. Enel’s management reported that the increase is attributable to the positive performance of operations, which includes the income from the partial sale of the investment in Ufinet, the lower incidence of minority interests, the positive effects deriving from the net financial management and to the results of the companies valued using the equity method. L’Net income stood at 1.43 billion.
Enel, the balance sheet at the end of March 2022
At the end of March 2022 thenet debt it had grown to 59.13 billion euros, compared to 51.95 billion at the beginning of the year, following the investments for the period (€ 2.53 billion), to the acquisition of ERG Hydro in Italy, due to the negative trend in operating cash flows and the negative exchange rate effect. On the same date, the incidence of net financial debt on total shareholders’ equity, the so-called debt to equity ratio was 1.29 (1.23 as of December 31, 2021).
During the entire quarter, Enel’s operating activities have absorbed cash for 707 million euros.
Enel, estimates for 2022 confirmed
Enel’s management has confirmed the financial targets for the year 2022.
The leaders of the electricity giant plan to close the current year with a gross operating margin of between 19 billion and 19.6 billion euros, while ordinary net profit should be between 5.6 and 5.8 billion euros. EUR.
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Enel, data for the 1st quarter of 2022
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