Enel: in the first half of 2023 ordinary EBITDA up to 10.7 billion euros (+29.4%) and net ordinary income to 3.3 billion euros (+52%)

·       Revenues: 47,095 million euros (65,630[1] million euros in the first half of 2022, -28.2%)

-         The change primarily reflects the decline in commodity sale prices on end-user markets, in an energy scenario characterized by greater price stability than in the first half of 2022. The impact of production volumes is substantially due to the change in the scope of consolidation

·       Ordinary EBITDA: 10,739 million euros (8,298 million euros in the first half of 2022, +29.4%)

-         The increase is attributable to the performance of the integrated business, which reflects the normalization of margins compared with the first half of 2022, together with the improvement in Enel Grids results

  ·       EBITDA: 9,676 million euros (8,203¹ million euros in the first half of 2022, +18.0%)

·       EBIT: 6,125 million euros (4,523¹ million euros in the first half of 2022, +35.4%)

-         The increase is mainly attributable to the positive performance of operations, a reduction in impairment losses and a decline in writedowns of receivables, which more than offset an increase in amortization and depreciation in the period

·       Group net ordinary income: 3,279 million euros (2,157[2]^&[3] million euros in the first half of 2022, +52.0%)

-         The increase reflects the positive performance of ordinary operations, which more than offset the rise in net financial expense attributable to the increase in gross debt and interest rate evolution

·       Group net income: 2,513 million euros (1,692[4] million euros in the first half of 2022, +48.5%)

·       Net financial debt: 62,159 million euros (60,068 million euros at the end of 2022, +3.5%)

-         The change is mainly attributable to the positive development in operating cash flow generation, offset by the requirements associated to investments in the period, as well as to the payment of dividends and of the solidarity contribution relating to the previous financial year

·       Capital expenditure: 6,042 million euros (5,889 million euros in the first half of 2022, +2.6%)

-         Investments in the period were focused in Enel Green Power for the development of renewable capacity, and in Enel Grids for the development and resilience of distribution networks

·       Confirmed the guidance provided to the financial markets at the presentation of the 2023-2025 Strategic Plan

-         Ordinary EBITDA between 20.4 and 21.0 billion euros, net ordinary income between 6.1 and 6.3 billion euros and overall dividend of 0.43 euros per share are expected in 2023; in addition, net financial debt is confirmed between 51 and 52 billion euros at the end of 2023

[1] The figures for the first half of 2022 have been adjusted, for comparative purposes only, to take account of the classification under the item “Profit/(Loss) from discontinued operations” of profit/(loss) connected with the assets held in Russia (which were sold in 2022), Romania and Greece, as the requirements of IFRS 5 for their classification as “discontinued operations” have been met.

[2] For a more accurate representation, the taxes relating to ordinary items of the first half of 2022 have been adjusted to take account of the extraordinary nature of the solidarity contribution recognized during the first half of 2022 in the total amount of 50 million euros.

[3] The figures for the first half of 2022 have been adjusted to take account of the effects of the Amendment of IAS 12, effective from January 1^st, 2023.

[4] The figures for the first half of 2022 have been adjusted to take account of the effects of the Amendment of IAS 12, effective from January 1^st, 2023.