popular articles

Enel reports 86.8% jump in first-quarter net profit

Energy group Enel has announced an 86.8% increase in net profit, reaching 1.93 billion euros in the first quarter, beating forecasts despite falling electricity and gas prices. Operational activities and optimized financial management contributed to this success.
Bénéfice net d'Enel en forte hausse

Please share:

In the first quarter, Enel posted a net profit of 1.93 billion euros. A figure 86.8% up on the previous year. Excluding non-recurring items, net profit rose by 44.2% to 2.18 billion euros. Although sales fell by 26.4% to 19.4 billion euros due to lower prices and reduced sales volumes, CFO Stefano De Angelis remains confident of achieving the year’s targets.

Financial optimization and debt

First-quarter performance is attributable to optimized operational activities and financial management. Net debt rose by 0.9% to €60.6 billion, but will be reduced to €54 billion thanks to asset disposals currently underway. Enel is targeting net income excluding exceptional items of €6.6 to €6.8 billion for 2024, and EBITDA of between €22.1 and €22.8 billion.

Selective investment strategy

Since the arrival of CEO Flavio Cattaneo, Enel has adopted a more selective approach to its investments. The group prioritizes projects that create added value. Under the current strategic plan, the Group will invest 12.1 billion euros in renewable energies between 2024 and 2026. This is less than the 17 billion initially forecast. Renewable energy generation now accounts for 67.2% of the total, surpassing thermal and nuclear generation.

Group outlook

Enel’s solid financial results, in contrast to previous years, demonstrate the Group’s ability to adapt to a rapidly changing energy market. The revised strategic plan aims to ensure sustainable growth while preserving profitability. Enel remains determined to improve its position in renewable energies, while pursuing a prudent investment strategy.
Enel’s growth reflects effective management and an investment strategy focused on value creation. Despite the challenges of energy prices, the Group remains confident in its ability to achieve its financial and strategic objectives.

Register free of charge for uninterrupted access.

Publicite

Recently published in

Suez announces the unexpected departure of its CEO Sabrina Soussan effective January 31, 2025. A transitional organizational shift is underway with Thierry Déau, chairman of the board, ensuring continuity and the group’s future.
BP and JERA join forces to create JERA Nex BP, a joint venture aimed at developing a 13 GW offshore wind project portfolio. This strategic initiative reflects a disciplined growth model while strengthening their presence in Europe and Asia-Pacific.
BP and JERA join forces to create JERA Nex BP, a joint venture aimed at developing a 13 GW offshore wind project portfolio. This strategic initiative reflects a disciplined growth model while strengthening their presence in Europe and Asia-Pacific.
Enedis is investing €3.6 billion in an ambitious strategy to modernize the French electric grid, enhance its climate resilience, and support the national industry.
Enedis is investing €3.6 billion in an ambitious strategy to modernize the French electric grid, enhance its climate resilience, and support the national industry.
Elyse Energy, a French SME, announces €120 million in funding to develop synthetic methanol and sustainable fuel plants, targeting the decarbonization of the aviation, maritime, and chemical sectors.
Elyse Energy, a French SME, announces €120 million in funding to develop synthetic methanol and sustainable fuel plants, targeting the decarbonization of the aviation, maritime, and chemical sectors.
As part of its global energy strategy, TotalEnergies invests €1.57 billion to acquire the German group VSB, a major player in wind and solar projects in Europe.
Aramco completes the acquisition of a 10% stake in Horse Powertrain, valued at €7.4 billion, specializing in hybrid and thermal powertrain solutions.
Aramco completes the acquisition of a 10% stake in Horse Powertrain, valued at €7.4 billion, specializing in hybrid and thermal powertrain solutions.
Amprion opens a tender for the construction and operation of a decentralized grid booster, a strategic project aimed at reducing redispatch costs and strengthening network efficiency.
Amprion opens a tender for the construction and operation of a decentralized grid booster, a strategic project aimed at reducing redispatch costs and strengthening network efficiency.
Mirova and BNP Paribas Asset Management acquire a majority stake in Arkolia, a French renewable energy player, to support its growth and achieve 1.5 GW capacity by 2030.
Mirova and BNP Paribas Asset Management acquire a majority stake in Arkolia, a French renewable energy player, to support its growth and achieve 1.5 GW capacity by 2030.
Axpo's solar and wind divisions secure a total of 163 MW in two tenders in France, strengthening their key role in the European energy transition strategy.
The National Financial Prosecutor's Office is investigating suspicions of public fund misappropriation involving EDF. Material benefits were allegedly granted to its former executives without any legal framework over several years.
The National Financial Prosecutor's Office is investigating suspicions of public fund misappropriation involving EDF. Material benefits were allegedly granted to its former executives without any legal framework over several years.
Masdar strengthens its global energy portfolio with the acquisition of 70% of TERNA ENERGY, marking a key step in the strategic transfer of assets for Europe’s energy transition.
Masdar strengthens its global energy portfolio with the acquisition of 70% of TERNA ENERGY, marking a key step in the strategic transfer of assets for Europe’s energy transition.
Eni distributes over three million free shares to its employees
Eni distributes over three million free shares to its employees
Africa Oil Corporation increases its stake in Impact Oil & Gas to 39.5%, consolidating its investment strategy in the Orange Basin of Namibia, a key region for the oil sector.
The Indian conglomerate Adani suffered a record loss on the stock market after the indictment of Gautam Adani in the United States, accused of paying $250 million in bribes for solar projects in India.
The Indian conglomerate Adani suffered a record loss on the stock market after the indictment of Gautam Adani in the United States, accused of paying $250 million in bribes for solar projects in India.
Technip Energies, a key player in energy engineering, announces ambitious forecasts: over €8.6 billion in revenue by 2028 and strengthened diversification towards decarbonization and sustainable technologies.
Technip Energies, a key player in energy engineering, announces ambitious forecasts: over €8.6 billion in revenue by 2028 and strengthened diversification towards decarbonization and sustainable technologies.
Mark Noyes, a seasoned expert in renewable energy, joins TerraForm Power as CEO to steer the company’s growth strategy in the face of industry challenges and opportunities.
Mark Noyes, a seasoned expert in renewable energy, joins TerraForm Power as CEO to steer the company’s growth strategy in the face of industry challenges and opportunities.
Wood Mackenzie anticipates a protectionist shift under Trump’s presidency, marked by a retreat from net-zero ambitions. However, renewables and the IRA will continue shaping the U.S. energy future.
The Italian group Enel plans to invest €43 billion by 2027, focusing on networks and renewable energies, while increasing dividends for its shareholders.
The Italian group Enel plans to invest €43 billion by 2027, focusing on networks and renewable energies, while increasing dividends for its shareholders.
Hundreds of complaints highlight major failures at Primagaz due to a change in its IT system. The Energy Ombudsman demands immediate action to protect affected consumers.
Hundreds of complaints highlight major failures at Primagaz due to a change in its IT system. The Energy Ombudsman demands immediate action to protect affected consumers.
Despite a 3% drop in production for the third quarter of 2024, Boralex is pushing forward with new strategic renewable energy projects and strengthening its operational resilience.
Despite a 3% drop in production for the third quarter of 2024, Boralex is pushing forward with new strategic renewable energy projects and strengthening its operational resilience.
At COP29, TotalEnergies CEO Patrick Pouyanné defended the oil industry's commitment to reducing methane emissions, emphasizing the importance of gradual progress in addressing the climate crisis.
The French industrial giant Vallourec reported a slight drop in net income to €73 million in Q3 2024. This stability is attributed to its premiumization strategy and strong margins despite challenging market conditions.
The French industrial giant Vallourec reported a slight drop in net income to €73 million in Q3 2024. This stability is attributed to its premiumization strategy and strong margins despite challenging market conditions.
Nexans aims for increased financial performance by 2028, supported by significant investments in global electrification and a strategy focused on energy transition and recycling.
Nexans aims for increased financial performance by 2028, supported by significant investments in global electrification and a strategy focused on energy transition and recycling.
Masdar and KESH sign a strategic partnership to develop large-scale renewable energy projects, positioning Albania as a key player in the European energy market.
Masdar and KESH sign a strategic partnership to develop large-scale renewable energy projects, positioning Albania as a key player in the European energy market.

Advertising