ROME (dpa-AFX) - Italian utility Enel S.p.A. (ENLAY.PK, EN) reported that its EBITDA for fiscal year 2015 amounted to 15.3 billion euros, down 3.2% on the 15.8 billion euros posted in 2014.
Ordinary EBITDA declined 3.2% to 15.0 billion euros from 15.5 billion euros in 2014, mainly attributable to the adverse exchange rate developments and to the formalisation, in the fourth quarter of 2015, of a number of agreements for the early retirement of personnel in Italy and Spain and it also reflected the decrease in the margin on generation from conventional sources.
These factors were partially mitigated by the efficiency gains achieved, by a number of regulatory changes that had a positive impact on results as well as new regulations introduced in July 2015 in Slovakia, which enabled the partial reversal of the provision for the disposal of depleted nuclear fuel.
Revenues for the year amounted to 75.7 billion euros, down 0.3% on the 75.8 billion euros posted in 2014. The slight decline was attributable to a decrease in sales of electricity, partly offset by an increase in revenues from the sale of fuels and gas in the same period. The greater revenues generated in Italy and Latin America partly offset the adverse impact of changes in the exchange rates of other currencies against the euro, amounting to about 0.9 billion euros.
Net financial debt at the end of 2015 amounted to 37.5 billion euros, lower than the 38.0 billion euros set as a Group target in the Strategic Plan and broadly in line with the 37.4 billion euros registered at December 31st, 2014.
Copyright RTT News/dpa-AFX