Leap in turnover primarily for the Infrastructure and Networks sector
It is in the prepares the closure of the 2021 accounts and the examination of the preliminary consolidated results for the year sees i revenues of 88.3 billion eurosin 33.8% increase compared to the 66 achieved in 2020, andEBITDA ordinary a 19.2 billion up by 6.7% compared to 18 billion the year before. L’financial debt net stands at 52 billion euros (45.4 billion euros at the end of 2020, + 14.5%). Final data are expected on March 17. The energy group releases the note after the Board of Directors which has reviewed the preliminary accounts and explains that the turnover increased primarily for the Infrastructure and Networks sector, due to the greater quantities transported, consequent to the increase in the demand for electricity; then thanks to Enel Green Powerdue to the increased production from renewable sources, a business in which the group led by Francesco Starace confirms itself as the largest private operator in the world.
2021 has already shown itself to be a record year on theclean energy: the company has reached a total managed capacity of around 54 Gw and is heading straight towards the overall capacity target (including batteries) of around 154 Gw by 2030. The increase in turnover includes the income from the sale of the 50% stake in Open Fiber for approximately € 2.73 billion which more than offset the negative exchange rate effect, mainly in Latin America.
This income had an effect on consolidated net financial debt of approximately € 2.42 billion. This collection, together with the positive cash flows generated by operations and the issue of a non-convertible subordinated hybrid perpetual bond of 2.75 billion, contained thedebt which, explains Enel, is grown due to investments, dividend payments and the purchase of an additional stake in the capital of Enel Americas. Revenues and EBITDA also enjoyed the good performance of Enel X And Thermoelectric Generation and Trading.
The energy giant also accelerates on the digital transformation of electricity grids and affirms the profile of sustainability in every area of its business, including its financial strategy. Among the various operations of 2021, too the acquisition of 50% and Intesa Sanpaolo 20% of Mooney to create a European fintech, given that digital payments are increasingly used for electricity bills and advanced services, such as electric mobility, explained the head of Enel Starace. Digital is also at the heart of Enel’s 2021 business with the launch of Gridspertisea new subsidiary that will help Distribution System Operators build smart grids around the world.
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