Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Italian Stock Exchange  >  Enel    ENEL   IT0003128367

ENEL

(ENEL)
My previous session
Most popular
  Report  
End-of-day quote. End-of-day quote Italian Stock Exchange - 03/22
5.634 EUR   +0.97%
03/21ENEL : net income grows in 2018 (+26.7%)
PU
03/21ENDESA : Italy's Enel puts faith in green energy, grids to power growth
RE
03/21ENEL : Raises Dividend After 2018 Net Profit Jumps
DJ
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Germany's RWE to keep struggling coal-fired plants as exit nears

share with twitter share with LinkedIn share with facebook
share via e-mail
0
03/14/2019 | 08:29am EDT
Brown coal fired power plants of RWE, one of Europe's biggest utilities in Neurath near Cologne

FRANKFURT/ESSEN, Germany (Reuters) - Utility RWE is sticking with its coal power plants, its chief executive said on Thursday, holding out for more compensation under a German landmark plan to abandon the fuel in exchange for payments.

By Christoph Steitz and Tom Käckenhoff

Under proposals hammered out by a government-appointed commission earlier this year, Germany is to fully phase out coal as an energy source by 2038, hitting operators of such plants including RWE, Germany's largest electricity producer.

The plan foresees that 3 gigawatts (GW) of lignite capacity need to be shut down by 2023 in Germany, a move that could cause 2,700 job losses at RWE, CEO Rolf Martin Schmitz said at the group's annual press conference.

"It is clear that compensation for shutting down additional power plants will have to be much higher than in the past," Schmitz said, adding that 1.2 billion-1.5 billion euros (1.3 billion pounds) per GW to be shut down early would be adequate.

The proposals do not specify compensation levels, leaving them to negotiations between operators and the government.

Schmitz said there were no talks about selling any coal-fired power stations, nor were there any plans to do so, adding it would not be easy to keep their profitability stable. RWE operates 16.8 GW worth of coal-fired plants.

RWE is in the process of taking over the renewable activities of rival E.ON and subsidiary Innogy, turning it into Europe's No.3 green energy group behind Spain's Iberdrola and Italy's Enel.

At the same time, a decline in profitability at its conventional power plants is one of the reasons the group forecast core earnings could fall by up to a fifth this year to 1.2 billion-1.5 billion euros ($1.4-$1.7 billion).

In 2018, core profit fell 29 percent to 1.5 billion euros in 2018. Adjusted net income is seen at 300-600 million euros this year, compared with 591 million in 2018.

Shares in the company were up 0.5 percent at 1125 GMT after falling as much as 3.5 percent earlier.

Jefferies analysts said the core earnings guidance was 8 percent below consensus, adding it could be partly explained by higher costs for IT and the pending integration of the renewable units of E.ON and Innogy.

"But the driver for the remaining difference is unclear to us, and so it is difficult to say if the 8 percent miss is on an underlying basis or a more conservative stance from the management," they wrote.

(Additional reporting by Vera Eckert; Editing by Subhranshu Sahu/Mark Potter and Emelia Sithole-Matarise)

By Christoph Steitz and Tom Käckenhoff

Stocks mentioned in the article
ChangeLast1st jan.
E.ON SE 0.52% 9.972 Delayed Quote.15.59%
ENEL 0.97% 5.634 End-of-day quote.11.70%
IBERDROLA -0.67% 7.728 End-of-day quote.10.12%
INNOGY SE -0.41% 41 Delayed Quote.0.66%
RWE 3.04% 23.75 Delayed Quote.25.23%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on ENEL
03/22GasLog Ltd. Announces Eight-Year Charter With Endesa for Existing Uncommitted..
AQ
03/21ENEL : net income grows in 2018 (+26.7%)
PU
03/21ENDESA : Italy's Enel puts faith in green energy, grids to power growth
RE
03/21ENEL : Raises Dividend After 2018 Net Profit Jumps
DJ
03/19ENEL : Acquires $256 Million Worth of Renewable Energy Facilities
AQ
03/18ENEL S.P.A. : annual earnings release
03/18ENEL : Construction of Texas` largest solar farm gets underway near Midland
AQ
03/15ENEL : Buys 650 MW of Renewable Capacity From US JV
DJ
03/14ENEL : acquired 650 MW of renewable capacity from its U.S. joint venture EGPNA R..
PU
03/14Despite Andean sun, renewable energy in Colombia faces cloudy outlook
RE
More news
Financials (€)
Sales 2019 78 366 M
EBIT 2019 11 050 M
Net income 2019 4 748 M
Debt 2019 41 299 M
Yield 2019 5,77%
P/E ratio 2019 12,08
P/E ratio 2020 11,06
EV / Sales 2019 1,26x
EV / Sales 2020 1,23x
Capitalization 57 279 M
Chart ENEL
Duration : Period :
Enel Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ENEL
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 5,80 €
Spread / Average Target 2,9%
EPS Revisions
Managers
NameTitle
Francesco Starace Chief Executive Officer, Director & GM
Maria Patrizia Grieco Chairman
Alberto de Paoli Chief Financial Officer & Head-Administration
Angelo Taraborrelli Independent Director
Alberto Bianchi Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
ENEL11.70%64 725
NEXTERA ENERGY INC11.57%92 731
DUKE ENERGY CORP5.10%65 940
DOMINION ENERGY INC.5.68%60 364
IBERDROLA10.12%56 941
SOUTHERN COMPANY18.12%53 673