By Ed Frankl 
 

Enel SpA said Thursday that 2021 profit and revenue rose as its operating performance returned to pre-pandemic levels on the back of growing electricity capacity and its sustainable-energy subsidiary Enel X.

The Rome-based energy company said net income for 2021 was 3.19 billion euros ($3.52 billion), up from EUR2.61 billion the previous year.

On an adjusted basis, net profit--or net ordinary income--came in at EUR5.59 billion.

The adjusted figure beat expectations of EUR5.49 billion, according to consensus estimates provided by the company.

Enel confirmed other preliminary results posted in February of earnings before interest, taxes, depreciation and amortization of EUR17.57 billion and ordinary Ebitda of EUR19.21 billion, near the top of its guidance of EUR18.7 billion-EUR19.3 billion.

Revenue jumped 33% to EUR88.01 billion

The ordinary Ebitda figure grew due to the influence of new renewable capacity, including commissioning around 5.1 gigawatts of new renewable energy to reach 90.7GW in total installed capacity, Enel said.

Its sustainable-transition arm Enel X also performed well, including adding 130,000 new charging points to reach 319,000, while its electric-bus fleet tripled to 3,000 units.

Enel proposed a dividend of 38 European cents, up from 35.8 cents last year.

 

Write to Ed Frankl at edward.frankl@dowjones.com

 

(END) Dow Jones Newswires

March 17, 2022 13:17 ET (17:17 GMT)

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