Revenues fell 6.7% to €20.59 billion, with the decline attributed primarily to lower electricity sales volumes in Italy, reduced average end-customer prices, and decreased wholesale market trading activity.
Despite the revenue softness, profitability improved across the group. Ordinary net income rose 3.9% to €1.94 billion, supported by better operating performance, contributions from renewable energy stewardship activities in Greece, South Africa, and Australia, and lower debt costs.
Ordinary net earnings per share climbed 6.2% to €0.203.
Capital expenditure increased 11% to €2.30 billion, reflecting the group's accelerating investment agenda. Net financial debt edged up to €57.83 billion from €57.18 billion at year-end, primarily due to exchange rate movements.
Enel reaffirmed its full-year 2026 guidance, targeting ordinary EBITDA of €23.1-23.6 billion and ordinary net income of €7.1-7.3 billion. The targets were originally set at the group's capital markets day in February, ahead of the outbreak of the U.S.-Israeli conflict with Iran.
Over the 2026-2028 strategic plan, Enel plans total gross investments of approximately €53 billion, with more than half allocated to renewables and the remainder directed toward power grid infrastructure.
source https://www.investing.com/news/earnings/enel-q1-profit-rises-as-spain-and-latin-america-offset-italy-weakness-4669027
