Italy's Enel profit edges higher in H1, launches up to 1 billion euro buyback

MILAN (Reuters) -Italian utility Enel reported a 1% year-on-year rise in its ordinary core profit in the first half, when stripping out asset sales, and said it would launch a share buyback worth up to 1 billion euros later this year.

Ordinary earnings before interest, taxes, depreciation and amortisation (EBITDA) came in at 11.5 billion euros, above an analyst consensus of 11.4 billion euros.

Last year Enel reported an ordinary EBITDA of 11.4 billion euros between January and June.

Enel confirmed its guidance for ordinary EBITDA of between 22.9 billion and 23.1 billion euros, and a net ordinary income between 6.7 billion and 6.9 billion euros for 2025 as a whole.

Enel shareholders in May granted the board the power to launch a share buyback plan worth up to 3.5 billion euros as an additional tool to reward investors alongside dividends. ($1 = 0.8744 euros)

(Reporting by Elvira Pollina, editing by Alvise Armellini)