ROME (ITALPRESS) – The Board of Directors of Enel S.p.A. has approved the results for fiscal year 2024. Revenues at 78,947 million euros (95,565 million euros in 2023, -17.4 percent).
The change is mainly attributable to the lower volumes of thermoelectric power produced and the decrease in the quantities of electricity and gas sold in the end markets, under a regime of decreasing prices, together with changes in the scope of consolidation in the two periods under comparison.
These effects were partly offset by positive revenue performance in renewables and distribution networks ordinary EBITDA at 22,801 million euros (21,969 million euros in 2023, +3.8 percent). The change is attributable to the positive contribution of the integrated businesses, with growth in Spain, the United States and Latin America more than offsetting the slight decline in Italy attributable to lower margins in end markets and thermoelectric generation despite the higher hydraulicity recorded in the year. The contribution of distribution network management activities was also positive, thanks to higher investment volumes.
EBITDA at 24,066 million euros (20,255 million euros in 2023, +18.8%). Group net ordinary income at 7,135 million euros (6,508 million euros in 2023, +9.6%) The increase is mainly attributable to the positive performance of ordinary operations, together with the reduction in net financial expenses, which more than offset the higher tax burden, which can be attributed to the improvement in economic results, and the higher incidence of minority interests. Group net income at 7,016 million euros (3,438 million euros in 2023).
Net financial debt at 55,767 million euros (60,163 million euros at the end of 2023, -7.3%). Positive cash flows generated by operations and the finalization of asset disposals carried out as part of the Group’s program of deleverage and rationalization of its geographic presence more than offset the needs generated by investments in the period and dividend payments.
The proposed total dividend for the full fiscal year 2024 is €0.47 per share (of which €0.215 per share has already been paid as an interim dividend in January 2025), up about 9 percent from the total dividend of €0.43 per share recognized for the full fiscal year 2023.
Achieved all strategic goals planned for 2024. Ordinary EBITDA at 22.8 billion euros and Group Ordinary Net Income at 7.1 billion euros; Positive development of integrated business mainly in Iberia and the Americas and solid performance of networks thanks to increased investment in regulated businesses.
Managerial actions taken to strengthen cash generation as well as the completion of the deleverage program have improved financial flexibility; as a result, the ratio of net financial debt to ordinary EBITDA is about 2.4x and the ratio of FFO (Funds From Operations) to net financial debt stands at 25%.
-Photo Ipa/Agency-
(ITALPRESS).
