Enel SpA (ENEL.MI), Italy's biggest utility by
market value, said Thursday first-half net profit fell 8.4% from a year
earlier, in line with expectations, on lower operating results amid the
Italian and Spanish recessions and on a higher portion of income
attributable to non-controlling interests.
Chief Executive Fulvio Conti confirmed the company will meet
its 2013 targets, despite its key Italian and Spanish markets remaining
weak for the full year.
MAIN FACTS:
-First-half net profit fell to 1.68 billion euros ($2.23 billion) from EUR1.84 billion in the same period last year.
-Net profit on ordinary operations, which Enel uses to determine its dividends, fell 0.2% to EUR1.65 billion.
-Earnings before interest, taxes, depreciation and
amortization, or Ebitda, slipped 0.3% to EUR8.29 billion from EUR8.32
billion.
-Revenue totaled EUR40.2 billion compared with EUR40.7 billion.
-Net debt was EUR44.52 billion at the end of June, up from the EUR43.29 billion three months earlier.