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ENEL H1 Profit Down

(RTTNews) - ENEL (ENLAY.PK, EN) Tuesday reported first-half net income of 2.40 billion euros, down from 2.89 billion euros last year. Earnings per share were 0.19 euro, down from 0.22 euro last year.

First-half revenues were 33.375 billion euros, down 18.5 from 40.967 billion euros last year.

The company said the drop in revenues were primarily attributable to End-user markets as a result of lower volumes of electricity sold in Italy and Spain mainly reflecting the impact of the COVID-19 outbreak, to the activities of Thermal Generation and Trading in Italy reflecting a decline in trading activities, and the effect connected with the application of IFRIC interpretations, on top of adverse exchange rate developments in Latin America.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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