Statkraft connects 44.5-MW solar farm to grid in Spain
Sep 19, 2024 15:28 CESTItalian energy giant Enel SpA (BIT:ENEL) on Thursday reported year-on-year declines in all key indicators of its financial performance for the first half of 2021, but still reiterated its 2021 guidance.
Enel saw its group net ordinary profit decrease by 4.4% on the year to about EUR 2.3 billion (USD 2.74bn). It blamed the drop on the negative performance of the result from operations and on the higher level of taxes at EUR 93 million, mainly resulting from the effects of the adjustments of current and deferred taxation in Argentina and Spain.
Ordinary earnings before interest, tax, depreciation and amortisation (EBITDA) fell by 4.9% as most business lines, including Enel Green Power, made lower contributions.
“In the second quarter of the year, the Group's performance accelerated solidly and visibly, returning the main operating figures to pre-COVID levels,” commented Group CEO Francesco Starace.
The table below shows more information about the group’s financial performance in January-June 2021.
Figures in EUR million | H1 2021 | H1 2020 |
Revenues | 29,853 | 33,375 |
-- from Enel Green Power | 3,941 | 3,575 |
Ordinary EBITDA | 8,360 | 8,794 |
-- from Enel Green Power | 2,198 | 2,296 |
EBIT | 4,371 | 4,543 |
-- from Enel Green Power | 1,388 | 1,665 |
Group net ordinary income | 2,299 | 2,405 |
Group net income | 1,778 | 1,947 |
In relation to the drop in revenues, Enel said that the Thermal Generation and Trading segment registered lower trading activities in Italy during the period and incurred a negative exchange rate effect in Latin America. The increase in revenues at Enel Green Power could only partially offset these factors.
The group’s capital expenditure in January-June 2021 rose by 16.3% on the year to EUR 4.8 billion mainly in relation to Infrastructure and Networks, End-User Markets and Enel X.
“In light of the trend recorded in the first half of 2021, we confirm the year-end targets of Ordinary EBITDA and Net Ordinary Income, as well as the guaranteed dividend per share of EUR 0.38, up 6% year-on-year,” Starace concluded.
During the six-month period, Enel increased its total net efficient installed capacity to 85.5 GW by adding 0.3 GW of fresh wind in each of Brazil and South Africa, as well as about 0.5 GW of new solar in the US. At present, the group's generation mix includes 52% renewables, 36% thermal and 12% nuclear energy.
(EUR 1.0 = USD 1.190)
Statkraft connects 44.5-MW solar farm to grid in Spain
Sep 19, 2024 15:28 CESTBlueFloat, China’s Dajin to partner on floating wind supply chain
Sep 19, 2024 15:04 CESTSonnedix buys 80-MW solar farm in Italy, more purchases to follow
Sep 19, 2024 14:32 CESTSpain approves BlackRock's bid for GIP, impacting Naturgy - report
Sep 19, 2024 12:57 CESTEranovum, Israeli partners bring online 83-MW solar park in Spain
Sep 19, 2024 5:52 CESTArgentina's Pampa Energia unveils 140-MW wind farm in Buenos Aires
Sep 18, 2024 15:27 CEST