August 1, 2019 / 3:52 PM / 17 days ago

Enel sticks to guidance after H1 earnings jump on renewables, networks

MILAN, Aug 1 (Reuters) - Europe’s biggest utility Enel confirmed full-year targets on Thursday after core earnings jumped 13.4% in the first six months, driven by its green energy and network business.

The Italian utility said its ordinary earnings before interest, tax, depreciation and amortisation in the period were 8.76 billion euros ($9.70 billion), in line with consensus.

“We are building and developing over 7 gigawatts of renewable capacity, which is expected to contribute around one billion euros in EBITDA per year, once operational,” Enel CEO Francesco Starace said.

$1 = 0.9038 euros Reporting by Stephen Jewkes, editing by Silvia Aloisi

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