Enel Keeps Earnings Outlook as Revenue Soars on Power Prices
- Italian utility’s earnings boosted by generation, trading unit
- Production, trading revenue more than doubled in first quarter
An Enel geothermal power station in Sasso Pisano, Italy.
Photographer: Alessia Pierdomenico/BloombergThis article is for subscribers only.
Enel SpA stuck to its earnings forecast for this year after the Italian utility reported an 89% jump in first-quarter revenue boosted by soaring electricity prices.
Revenue climbed to 35 billion euros ($37 billion) in the period, led by the utility’s thermal generation and trading unit, the company said in a statement on Wednesday. Adjusted earnings before interest, tax, depreciation and amortization rose 6.8%, in line with analyst expectations.