Enel Green Power net profit jumps 46% in Jan-Sep 2013

Nov 7, 2013 - Enel Green Power (BIT:EGPW) on Wednesday reported a net profit of EUR 407 million (USD 550.5m) for the nine months of 2013, a 46.4% annual jump from the EUR 278 million at end-September 2012.

Excluding the effect of discontinued operations amounting to EUR 62 million, the net profit grew by 23.7%, a statement read.

Revenues totalled EUR 2.053 billion, an 18.5% rise from end-September 2012.

Earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 17.5% to EUR 1.310 billion and operating profit went up by 16.8% to EUR 770 million.

Enel SpA’s (BIT:ENEL) green power unit booked a net financial debt of EUR 5.665 billion, up from EUR 4.614 billion at end-December 2012.

Enel Green Power‘s net installed capacity as of September 30, 2013 amounted to 8.7 GW, a rise by 1.1 GW , or by 14.2% compared with the same period of 2012, mainly in the wind power segment. Net installed capacity in Europe stood at 4.1 GW.

The group’s power generation increased from the first nine months of 2012 mainly due to growing wind generation by 2.2 TWh, primarily reflecting greater installed capacity, and the rise by 1.3 TWh in hydro generation thanks to more favourable water conditions reported in Italy compared with the historical average, EGP said.

Enel Green Power will continue to pay attention to markets with abundant renewable resources, stable regulatory frameworks and strong economic growth, the company said. In 2013, EGP will continue to seek new growth opportunities in countries with considerable potential for development in order to increase geographical diversification even further.

(EUR 1 = USD 1.352)

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