Enel: 2022 profit of 5.4 billion, dividend of 0.40 euros per share
Enel closed 2022 with Group net ordinary income of 5.391 billion euros (5.593 billion in 2021, -3.6%), higher than the Group guidance communicated to the financial markets, equal to 5.0-5.3 billion euro. The total dividend proposed for the entire financial year 2022 is equal to 0.40 euro per share (of which 0.20 euro per share already paid as an interim payment in January 2023), up by 5.3% compared to the total dividend of 0.38 euro per share recognized for 2021.
Revenues amounted to 140.517 billion euros (85.719 billion euros in 2021, +63.9%), “the positive change is mainly attributable to the higher volumes of energy produced, traded and sold in a context of rising average prices, as well as the favorable trend in exchange rates”. Ordinary EBITDA stood at 19.683 billion euros (19.210 billion euros in 2021, +2.5%), higher than the Group guidance communicated to the financial markets, equal to 19.0-19.6 billion euros thanks “to the positive performance of the integrated business, as a result of the combination of the businesses of Thermoelectric Generation and Trading, Enel Green Power, Final Markets and Enel X, together with the positive performance of Enel Grids. A favorable evolution of exchange rates can also be noted”. EBITDA amounted to 19.918 billion euros (17.2331 billion euros in 2021, +15.6%) while EBIT was 11.193 billion euros ( 7.551 billion euros in 2021, +48.2%) with “the change mainly reflecting the positive trend in operations and the lower value adjustments recorded during the year compared to 2021, only partially offset by higher depreciation”.
Net financial debt stood at 60.068 billion euros (51.693 billion euros in 2021, +16.2%), “in line with the guidance. The increase mainly due to investments in the period whose needs were partially offset by the positive cash flows generated by operations, which were affected by the impact on net working capital of some government measures, and by the positive effects of asset portfolio management activities”. Investments amounted to 14.347 billion euros (12.997 billion euros in 2021, +10.4%) with “the increase attributable to the growth of investments in Enel Green Power, Enel Grids, Final Markets and Enel X”.
“The excellent results that Enel recorded in 2022 highlight the Group’s ability to create value for its stakeholders even in the face of the highly challenging context that has characterized the last three years”. This is what the CEO of Enel, Francesco Starace, said, commenting on the balance sheet data.
“It is thanks to the resilience of our integrated business model – he continued – to the solid operating performance, to the managerial actions implemented during the year and above all to the tireless work of all our colleagues that we have been able to exceed the guidance announced at the markets. Based on these results, we are offering our shareholders a dividend of €0.40 per share, up on the previous year. In the coming months of the year, we will continue to grow in renewables and digitize the distribution networks, helping to decarbonise the generation mix and increase energy independence in the regions in which we operate, improving the quality of service, enabling the electrification of final consumption and protecting our customers from the volatility of the energy markets. We will concentrate investments above all in Italy and in the other core countries, in order to accelerate the Group’s sustainable growth path, further reducing its risk profile”.
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