ROME (dpa-AFX) - Enel S.p.A. (ENLAY.PK), an Italian integrated electricity and gas company, Friday reported pre-tax profit of 7.407 billion euros for the first half, a jump from 4.531 billion euros in the same period last year. Revenue for the period, however, declined. The company confirmed its full-year outlook.
Enel also hopes to pay a higher dividend than the fixed minimum of 0.43 euros per share.
'The dividend policy envisages a fixed minimum DPS ('Dividend Per Share') of 0.43 euros for the 2024-2026 period with a potential increase up to a 70% payout of Net Ordinary Income if cash flow neutrality is achieved,' the company said in a statement.
Operating profit for the period also increased to 8.988 billion euros from 6.125 billion euros a year ago.
Ordinary earnings before interest, taxes, depreciation, and amortization or ordinary EBITDA rose 8.8 percent to 11.681 billion euros from 10.739 billion euros in the previous year.
EBITDA was 12.862 billion euros, up from 9.676 billion euros a year ago.
Group net ordinary income was 3.956 billion euros, 20.6 percent higher than 3.279 billion euros in the prior year, mainly attributable to the positive performance of ordinary operations and a decline in the incidence of non-controlling interests.
Net profit increased to 4.144 billion euros or 0.40 euros per share from 2.513 billion or 0.24 euros per share a year ago.
Revenue for the period, however, dropped 17.8 percent to 38.731 billion euros from 47.095 billion euros in the previous year. The decrease in revenue reflected reduced prices with lower energy volumes from thermal sources and a decrease in quantities of electricity sold.
Looking ahead, the company has confirmed its full-year outlook. The group continues to expect an ordinary EBITDA between 22.1 billion and 22.8 billion euros and a net ordinary income between 6.6 billion and 6.8 billion euros for the year.
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