Enel Green Power's net profit rises 36.4% in 2013

(SeeNews) - Mar 10, 2014 - Italy's Enel Green Power (BIT:EGPW) reported on Friday a net profit of EUR 528 million (USD 732.9m) for 2013, up by 36.4% on the year.

The total revenues of Enel's (BIT:ENEL) renewable energy arm grew 12.2% to EUR 2.778 billion. Earnings before interest, tax, depreciation and amortisation (EBITDA) went up 9.9% to EUR 1.787 billion and earnings before interest and tax (EBIT) rose 14.5% to EUR 1.065 billion. 

Enel Green Power had a net financial debt of EUR 5.446 billion at the end of December 2013, compared with EUR 4.614 billion as at December 31, 2012.

The group's net installed capacity came in at 8.9 GW at the end of last year, up from 8.0 GW at December 31, 2012. Enel Green Power's net generation rose to 29.5 TWh, up 17.5% from the 25.1 TWh as at end-December 2012.

The group's board is proposing a dividend of EUR 0.032 per share for the 2013 results.

For 2014, Enel Green Power will seek to offset the falling prices and unfavourable regulatory changes in its main European markets, and focus on markets with plenty of renewable resources, stable regulatory environment and strong economic growth. The group will also seek new growth opportunities in countries of high growth potential in a bid to further boost its geographical diversification, Enel Green Power said.

(EUR 1 = USD 1.388)

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