Enel Green Power Announces Preliminary Consolidated Results For 2015
The Board of Directors of Enel Green Power SpA chaired by Alberto De Paoli, met recently to review the preliminary consolidated results for 2015. Francesco Venturini, CEO and General Manager of Enel Green Power, remarked “For Enel Green Power, 2015 was another growth year which confirmed our leading position in the renewables sector. The company’s ability in accelerating growth has been proven by 1.5GW of additional installed capacity and by our flexibility in quickly addressing our portfolio and adapting it to changes in global scenarios. The sale of our Portuguese assets as well as the creation of a solar PV joint venture in Italy are an example of all the above. Furthermore in 2015 we took significant steps forward in new markets such as Asia through our entry in India, as well as Africa with additional 500 MW of solar to be developed in South Africa thus positioning ourselves as one of the main players in these areas with strong growth potential. Finally we have developed new businesses and technology tests such as building off-grid solutions and the use of storage capacity to improve flexibility and the performance of our facilities ”. *** The total revenues of the Enel Green Power Group (the “Group”) amounted to 3.0 billion euros, in line with that posted in 2014. EBITDA came to 1.8 billion euros, down 5.3% on the 1.9 billion euros posted in 2014, mainly reflecting a decrease in income from disposals of investments and the formalisation (in the fourth quarter of 2015) of a number of agreements to the early retirement of personnel in the Italy area. Net financial debt totalled 6.9 billion euros at the end of 2015, up about 0.9 billion euros on the 6.0 billion euros registered at the end of 2014. The increase is mainly attributable to growth in installed capacity of EGP in line with what communicated in the company’s strategic plan.
