By Olivia Bugault 
 

Enel SpA said Thursday that earnings before interest, taxes, depreciation, and amortization and revenue fell in 2020, citing preliminary results.

The Rome-based energy company said revenue for the year fell 19% to 65 billion euros ($78.20 billion). The decline is partly due to "lower revenues in End-user markets, caused by lower sales of gas and electricity in Spain and Italy, mostly due to the effects of the COVID-19 outbreak," as well as lower revenues at its infrastructure and networks division, it said.

Earnings before interest, tax, depreciation and amortization fell 5.1% on year to EUR16.8 billion. Ordinary Ebitda, which is adjusted for one-offs including acquisitions or disposals, came in at EUR17.9 billion, in line with the company's expectations and 2019's figure, it said.

Enel reported net debt of EUR45.4 billion at year-end, compared with EUR45.2 billion the previous year and above the company's expectations, it said.

 

Write to Olivia Bugault at olivia.bugault@wsj.com

 

(END) Dow Jones Newswires

February 04, 2021 12:42 ET (17:42 GMT)

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