Enel: shares up after new strategic plan
(CercleFinance.com) - Italian utility group Enel on Tuesday unveiled a new strategic plan and increased its long-term financial targets, which sent its shares up over 2% this morning in Milan.
The group said that it expects to unblock 27.5 billion euros of gross capex over the 2019/2021 period, which should result in 3.2 billion euros incremental ordinary EBITDA.
Regarding operational efficiency, Enel is aiming at 1.2 billion euros of cumulative "efficiencies" by 2021, mainly from digitalisation, it said.
For 2018, Enel confirmed its target of ordinary EBITDA rising to 16.2 billion euros, a level "we committed to reach back in 2015 and that we constantly confirmed," the energy group added.
Enel also said it intend to raise its dividend from 0.16 euro to 0.28 euro per share for 2018.
Investors seemed to be pleased by all these announcements, with the shares currently up 2.5% at 4.7 euros.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The group said that it expects to unblock 27.5 billion euros of gross capex over the 2019/2021 period, which should result in 3.2 billion euros incremental ordinary EBITDA.
Regarding operational efficiency, Enel is aiming at 1.2 billion euros of cumulative "efficiencies" by 2021, mainly from digitalisation, it said.
For 2018, Enel confirmed its target of ordinary EBITDA rising to 16.2 billion euros, a level "we committed to reach back in 2015 and that we constantly confirmed," the energy group added.
Enel also said it intend to raise its dividend from 0.16 euro to 0.28 euro per share for 2018.
Investors seemed to be pleased by all these announcements, with the shares currently up 2.5% at 4.7 euros.
Copyright (c) 2018 CercleFinance.com. All rights reserved.