Enel closed the first quarter of the year with revenues of 17,107 million euros, down by 14.4% compared to the corresponding period of 2020, due to the Thermoelectric Generation and Trading activities in Italy and Spain, due to lower activities trading, to infrastructures and Networks mainly in Latin America due to the negative exchange rate effect and to the Final Markets, due to the lower quantities of electricity sold in Spain. Net profit amounted to 1,176 million, down by 5.7%. A positive sign, on the other hand, was made for investments, which in the quarter rose by 8.8% to 2,035 million euros. The increase is mainly attributable to the growth in investments in Enel Green Power, Infrastructures and Networks and End Markets.
“In the first quarter of 2021 we significantly increased our investments, mainly in renewables and networks, in order to further accelerate the Group’s decarbonisation process and seize the opportunities that will emerge from the economic recovery – commented Francesco Starace, CEO of the Enel group. – These investments will allow us to accelerate growth, in a context of ever greater decarbonisation, projecting us towards a new record of building renewable capacity at the end of the year ”.
In light of the financial and operating results achieved in the first quarter, Enel confirmed the growth objectives for 2021 in terms of ordinary EBITDA and ordinary net profit, as announced in November last year when the strategic plan was presented.