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MarketScreener Homepage  >  Equities  >  Italian Stock Exchange  >  Enel S.p.A.    ENEL   IT0003128367

ENEL S.P.A.

(ENEL)
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Enel S p A : Plans to Put 50% of Planned Investments in Decarbonisation

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11/26/2019 | 04:24am EST

By Giulia Petroni

Enel SpA (ENEL.MI) plans to put about half of its total planned investments towards decarbonisation, the company said on Tuesday ahead of its capital-markets day.

The Rome-based energy company said it targets a total organic capital expenditure of 28.7 billion euros ($31.6 billion) for the 2020-22 period, up 11% on previous estimates. Approximately EUR14.4 billion of this will be invested in increasing the company's renewable energy capacity, Enel said.

"2019 has marked a turning point for the dynamics of transformation within the world's energy systems and we expect an acceleration of the trends of decarbonisation and electrification in the years to come," said Chief Executive Francesco Starace.

More specifically, Enel plans to invest EUR12.5 billion in renewables and expects capacity to increase by 14.1 gigawatts by 2022, reaching approximately 60 gigawatts of total managed capacity.

By the end of the planned period, Enel expects to reduce its global production of coal by 75% compared to 2018 and the share of renewables on total capacity to reach 60% in a three years.

Enel's investments in decarbonisation are expected to contribute EUR1.4 billion to the company's earnings before interest, tax, depreciation and amortization over the plan period.

The company also said it plans to invest EUR1.2 billion of capex in electrification of consumption, which are expected to yield around EUR400 million in Ebitda growth over the period.

Write to Giulia Petroni at giulia.petroni@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
ENDESA 1.66% 24.55 End-of-day quote.3.19%
ENEL S.P.A. 1.50% 7.725 Delayed Quote.7.62%
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Financials (EUR)
Sales 2019 78 522 M
EBIT 2019 11 377 M
Net income 2019 4 838 M
Debt 2019 46 284 M
Yield 2019 4,28%
P/E ratio 2019 16,3x
P/E ratio 2020 14,7x
EV / Sales2019 1,59x
EV / Sales2020 1,56x
Capitalization 78 526 M
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Technical analysis trends ENEL S.P.A.
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 7,55  €
Last Close Price 7,73  €
Spread / Highest target 14,6%
Spread / Average Target -2,25%
Spread / Lowest Target -19,7%
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
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