Renewables were major driving force for Enel’s increasing revenue and net income Q1-Q3 2018
Post date: 07/11/2018 - 22:00
Italian Enel Group reported revenue for the nine month ended September 30, 2018 of €55.2 million ($63 million), an increase of 2 percent compared to the same period of 2017. Net income attributable to shareholders of the parent company increased by 15.1 percent to €3.01 million (Q1-Q3 2017: €2.6 million).
According to Francesco Starace, Enel CEO and General Manager, »renewables were once again the major driving force behind the Group’s positive performance.« On top of strong renewable growth, better margins posted by the company’s distribution and retail activities in Italy and Spain, the acquisition of Sao Paulo distribution company Eletropaulo in Brazil, as well as the expansion of Enel X in North America, also contributed to the growth of the performance in the first nine months of 2018. »During the period, we also completed the sale of a majority stake of 1.8 GW of renewable capacity in Mexico for $1.4 billion dollars.«