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Enel posts 26.7% hike in group net income for 2018

Enel SpA on March 21 posted group net income of €4.79 billion for full-year 2018, a 26.7% surge from €3.78 billion in 2017.

The Italian company reported group net ordinary income of €4.06 billion, up 9.5% compared to €3.71 billion recorded a year ago. Revenues for 2018 amounted to €75.67 billion, an increase from €74.64 billion in 2017.

Enel booked EBITDA of €16.35 billion, rising 4.5% from €15.65 billion, while ordinary EBITDA totaled €16.16 billion, up 3.9% from €15.56 billion in 2017.

Net financial debt rose 9.8% to €41.09 billion from €37.41 billion in 2017.

"Moving forward, in 2019 we envisage an acceleration in renewable projects, mainly in North America, with continued investments in the digital transformation of grids in Italy and South America," Enel CEO and General Manager Francesco Starace said.