The ceo of the Italian group Enel, Francesco Starace, has ensured that Spain, where it controls 70% of Endesa, is a market “promising” in which to invest becomes to make sense. In his meeting with the analysts in the Capital Markets Day held in Milan, noted that “at the political level, we have a framework that is favourable and the investments may make sense”.
MORE INFORMATION The Supreme Court confirms the sanction of 18.4 million to Nuclenor to stop the central Garoña, The plan of Endesa to “democratize” the electric car: to 8,500 charging points in public and 100,000 private Endesa confirms to the workers that will shut down the power plants from Teruel and Leon in June of 2020
The executive, who is vice president of Endesa, he stressed that the vision of the group with respect to Endesa has not changed and stated that thanks to the governments of Spain and Portugal “have been defined” their regulatory frameworks, “it is possible to re-invest and grow by modifying the mix,” he said in reference to the company’s commitment for renewable energy. Enel has received strong criticism from the trade unions of Endesa and, in particular, UGT has accused the Italian group of “plunder” its Spanish subsidiary with the objective of “chop it and sell it to the highest bidder”, such as you published THE COUNTRY.
So, Starace stressed that Spain is “a market that is very promising,” and praised that Endesa is a company, “great, that grows a lot and is very effective.” Endesa is expected to raise its investment plan in the next few years, to 5,500 million euros, thus increasing the cost of its net capital (‘capex’) between the years 2019 and 2021 10% compared to the period of his previous plan. The figure of investment in Iberia (Spain and Portugal) of the group in the period, a total of 1,700 million euros will be for your growth in renewables.
Enel is planning to invest 27.500 million euros in the period 2019-2021, which represents an increase of almost 12% compared to the previous plan, with the aim of achieving a gross result of exploitation (Ebitda) of 19,400 million euros and a net profit of 5,600 million euros at the end of the period.
The energy ratified a pay out Betcup of 70%, which will allow you to guarantee an increase in the period of 9% of its annual minimum dividend, to € 0.36 per share in 2021, compared to 0.28 euros this year. In this way, the Italian group expected to remunerate its shareholders in the year 2021 with a final dividend of 28.5% higher than we paid this year 2028. As well, Enel expects to generate a profit of 5,600 million euros in 2021, after an average annual growth in the casino period of 11%, and an Ebitda of 19,400 million, around 6% more than the annual average, the company said.
Of their total investments, the company will invest around 16,500 million in the development of assets and others about 10,600 million euros to the impulse of renewable energies. Also, Enel stressed that it will strengthen its focus on markets in which the company has an integrated presence, such as Italy, Spain, Chile and Brazil.
Starace stressed that from 2015 the group has “met all his objectives”, increasing on the previous plan the dividend per share from 0,16 € 0,28 per share, 2018 and maintaining a pay-out stable of the 70% in the period of the plan. In this way, found that “the soundness” of this new plan enables the energy to improve their objectives of Ebitda for the next three years, which will result, for the first time, ensure a minimum dividend per share throughout the entirety of this new ‘roadmap’.
Enel based on this new plan in the momentum that provides for growth and value creation decarbonization. As well, the group foresees that renewable energies will generate an increase in Ebitda of around 1,000 million euros between 2018 and 2021. At the end of the period, the Italian group anticipates that its production of emission free energy to reach the 62%, compared to the 48% estimated in 2018.
Meanwhile, the installed capacity of Enel will be above 93 gigawatts (GW), compared with the rate of 89.4 GW, with an increase of 11,600 megawatts (MW) of renewable generation. The debt of the Italian group at the end of the period of this new plan it is expected that I placed at the 41.800 million in 2021.
