Enel is up more than 3% in Milan on the day after the electric utility reported net income, group share, up 87% to 1.93 billion euros for the first quarter of 2024, as well as ordinary EBITDA up almost 12% to 6.09 billion.

The Italian group explains that this increase is attributable, more specifically, to the positive results of integrated activities, thanks to the production of renewable energy, as well as to the optimization of procurement costs, which improved margins on sales.

At more than 19.4 billion euros, sales fell by 26.4%, as a result of the gradual decline in prices, lower quantities of electricity sold on end markets, and lower production from thermal sources.

We are confident of achieving all our objectives for 2024, including the reduction of net debt, which has already fallen to 54 billion euros to date, also taking into account the disposals currently being finalized", says CFO Stefano De Angelis.

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