November 12, 2019 / 4:46 PM / a month ago

Enel lifts earnings target after 9-mth results top expectations

MILAN, Nov 12 (Reuters) - Italy’s biggest utility Enel raised its core earnings target for the year after nine-month operating results topped expectations, lifted by its network business in Latin America.

For the full year, the group said it expected to reach ordinary core earnings (EBITDA) of 17.8 billion euros ($19.6 billion), up from a previous forecast of 17.4 billion euros.

Net profit in the nine months to the end of September fell 73% to 813 million euros due to impairment charges on some of its coal-fired power plants. ($1 = 0.9074 euros) (Reporting by Stephen Jewkes)

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