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.
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