Enel 2011 Ebitda Beats Estimates as Utility’s Revenue Advances

Enel SpA (ENEL)’s 2011 profit beat analyst estimates as Italy’s biggest power company boosted revenue by 8 percent.

Preliminary earnings before interest, taxes, depreciation and amortization rose to 17.7 billion euros ($23 billion) from 17.5 billion euros a year earlier, the Rome based-company said in a statement today. Analysts surveyed by Bloomberg had estimated Enel’s 2011 Ebitda at 17.4 billion euros.

Enel said the “positive contribution” from its infrastructure and networks division and renewable energy business helped offset the decline in margins of the generation and energy management unit and Iberia and Latin American divisions.

Net financial debt at the end of 2011 was 44.6 billion euros, down from 44.9 billion euros in the previous year.

The company said the utility’s board decided that no interim dividend for 2012 would be distributed this year.

To contact the reporter on this story: Chiara Vasarri in Rome at cvasarri@bloomberg.net.

To contact the editor responsible for this story: Jerrold Colten at jcolten@bloomberg.net

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