Ordinary EBITDA to 6,094 million euros (5,463 million euros in the first quarter of 2023, +11.6%). The increase is attributable to the positive contribution of the various business units and geographies. In particular, the positive results of the integrated businesses thanks to renewable generation, as well as the optimization of procurement costs which contributed to an improvement in sales margins. Net of changes in the scope, the performance of distribution network management activities was also positive.
Ordinary net result of the Group at 2,180 million euros (1,512 million euros in the first quarter of 2023, +44.2%). The increase is mainly attributable to the positive performance of ordinary operational management and the optimization of financial management.
Net financial debt to 60,696 million euros (60,163 million euros at the end of 2023, +0.9%). The positive cash flows generated by operational management partially offset the needs generated by investments in the period and by the payment of the interim dividend for the 2023 financial year which took place in January.
The investments they amount to 2,587 million euros in the first quarter of 2024, a decrease of 286 million euros compared to the same period of 2023 (-10%). The investments made in the period were concentrated in particular in Enel Grids (1,319 million euros, 51% of the total) and in Enel Green Power (907 million euros, 35% of the total). The reduction compared to the first quarter of 2023 is mainly attributable to a better focus of investments, in line with the priorities of the 2024-2026 Strategic Plan, and to the substantial completion of activities in battery energy storage systems in Italy.
“The solid results of the first quarter of 2024 confirm the effectiveness of the managerial actions undertaken with the 2024-2026 Strategic Plan, as well as the resilience of our business model in all countries of presence – commented the CFO Stefano De Angelis – Also in the coming months, Enel will continue to pursue a selective capital allocation with great discipline, maximizing management efficiency and effectiveness, as well as financial and environmental sustainability. We are therefore confident of achieving all our objectives for 2024, including the reduction of the group’s net debt, which has already fallen to 54 billion euros today also considering the divestments now being finalized. L’excellent performance in the first quarter also provides us with ample visibility on the confirmation of the remuneration policy of shareholders presented on the Capital Markets Day in November 2023″
In light of the first quarter performance, the guidance provided to the financial markets on the occasion of the presentation of the 2024-2026 Strategic Plan in November 2023 is confirmed: in 2024, the group expects an ordinary EBITDA of between 22.1 and 22.8 billion euros and an ordinary net profit of between 6, 6 and 6.8 billion euros.
(Teleborsa) 09-05-2024 17:56
