Enel Green's 9-mo profit declines by 3%

Nov 10, 2014 - Italian renewable energy firm Enel Green Power (BIT:EGPW) on Friday said its net profit in the first nine months of 2014 amounted to EUR 395 million (USD 491m), down by 2.9% year-on-year.

Excluding the net result of discontinued operations, net profit grew by EUR 55 million from a year ago, the company noted.

Revenues climbed by 3.7% to EUR 2.08 billion in part thanks to the indemnity related to an offtake agreement with Japan’s Sharp Corp (TYO:6753) for the output of a joint thin-film production unit -- 3Sun Srl. There was also a slight rise in revenues from the Americas, which was offset by weaker revenues in Iberia following regulatory changes in Spain.

Results in EUR	9-mo 2014	9-mo 2013	Change
Revenue	2.08 billion	2.01 billion	+3.7%
EBITDA	1.32 billion	1.31 billion	+0.9%
Net profit	395 million	407 million	-2.9%
Net financial debt	6.64 billion	5.32 billion	+24.7%
Installed capacity	9.5 GW	8.6 GW	+10.5%
Net power output	23.5 TWh	21.6 TWh	+8.8%