EGP’s first-halfresults showed its leadership in this industry. Revenues exceeded 1.3 billion euros, a 28.4% increase compared with the year-earlier period, while the EBITDA gained 35% reaching 878 million euros , and the EBIT totalled 607 million euros, an increase of 192 million euros or 46.3%. Group net income amounted to 300 million in the first half of 2011, ), up 18.6% compared with the year-earlier period.
The EGP half-year financial report, approved by the Board of Directors chaired by Luigi Ferraris, also stated that the overall Capital expenditure at the end of 2011 should reach 1,3 bilion euros. Also, the net financial debt amounting to 3,76 bilion euros at the end of June, should reach 4,1 bilions.
Francesco Starace, Chief Executive Officer and General Manager of Enel Green Power, remarked: “We are very satisfied with the results for the first half, which underscore the effectiveness of our strategy of technological and geographical diversification. At the operational level, as at June 30th we registered a total installed capacity of 6,372 MW, of which 2,538 MW (39.8%) of hydroelectric, 2,893 MW (45.4%) of wind power, 775 MW (12.2%) of geothermal energy and 166 MW (2.6%) of other renewable resources (solar energy, biomass and cogeneration) which together with projects under way in Italy and the rest of the world will enable us to achieve our targets for the year comfortably. We can therefore confirm all our financial and growth targets for the full year as announced to investors in March when we presented our business plan.”
2011 represents a key year in the consolidation of Enel Green Power’s leadership in the renewable energy sector and the achievement of the strategic goals. Capital expenditure in the first half of 2011 amounted to 624 million euros, up 285 million euros on the same period of 2010. The main scope is to preserve and improve the geographical diversification of its energetic assets portfolio, focusing on the individual markets even in a better renewable energy production optimization view on that specific country and the economic growth expectations of that market too, in order to optimize the relationship between risks and yields. EGP has also emphasized its intentions to evaluate possible acquisitions: Francesco Starace declared “if there’s a value chain potential, we’ll evaluate it. We don’t have a dogmatic vision by the way.”
On August 2nd, 2011 at 5:30 p.m., a conference call was held to present the results for the first half of 2011 to financial analysts and institutional investors. Journalists are also invited to listen in on the call. Information regarding the subjects discussed during the conference call is available on Enel Green Power’s website www.enelgreenpower.com in the Investor Relations section.