Enel’s management has confirmed its financial goals for 2022.
Enel announced the financial results for the 1st quarter of 2022, a period that saw a major increase in revenue and an improvement in profitability. Debt is also growing.
The management of Enel has confirmed its financial targets for 2022.
Enel, accounts for the 1st quarter of 2022
The electric giant ended the period under review and income up by 89.1%: turnover of the electricity giant went from 18.49 billion (revised figure) to 34.96 billion euros. Enel clarifies that the change is attributed to all business sectors, mainly due to the greater amount of electricity produced and sold at increased average prices. “The change is also affected by the revenues achieved from the partial sale of the investment in Ufinet”, added the management.
La ordinary gross operating margin, which rose from 4.2 billion (revised figure) to 4.49 billion euro (+ 6.8%). Enel reported that the increase in margin due to higher quantities produced from conventional sources, along with the positive effects of the new installed renewable capacity and cost risk management results on the goods, more than offset the negative effects generated from. hydroelectric sources due to poor water supply and higher final market acquisition costs.
Theordinary net profit it grew by 18.9%, going from 1.21 billion to 1.44 billion euros. Enel’s management reported that the increase is attributed to the positive performance of operations, including income from the partial sale of the investment in Ufinet, the lower incidence of minority interests, the positive effects from the net financial management and the results of. companies value using the equity method. TheNet income stood at $ 1.43 billion.
Enel, the balance sheet at the end of March 2022
At the end of March 2022net debt grew to 59.13 billion euros, compared to 51.95 billion at the beginning of the year, the following year. investment for the period (€ 2.53 billion), the acquisition of ERG Hydro in Italy, due to the negative trend in operating cash flow and the negative exchange rate effect. On the same date, the incidence of financial debt on the total equity of shareholders, the so-called. debt to equity ratio was 1.29 (1.23 as of December 31, 2021).
Throughout the season, Enel’s operating activities absorb cash for 707 million euros.
Enel, estimates for 2022 confirmed
Enel’s management has confirms the financial goals for the year 2022.
The leaders of the electricity giant plan to close the current year with a gross operating margin of between 19 billion and 19.6 billion euros, while ordinary net profit should be between 5.6 and 5.8 billion euros.