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Enel reports 3% rise in H1 core earnings despite drop in Italian hydro power - Finance news and analysis from Global Banking & Finance Review
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Enel reports 3% rise in H1 core earnings despite drop in Italian hydro power

Published by Global Banking & Finance Review

Posted on July 30, 2026

1 min read

· Last updated: July 30, 2026

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Enel Posts 3% Growth in H1 Core Earnings as Italian Hydro Output Falls

Enel's First Half Performance Overview

MILAN, July 30 (Reuters) - Italy's biggest utility Enel said on Thursday its Spanish and Latin American units supported the group's performance in the first half, with ordinary earnings up 3% year-on-year in the period.

EBITDA Results and Analyst Expectations

Earnings before interest, taxes, depreciation and amortisation (EBITDA) excluding extraordinary items came in at €11.8 billion ($13.6 billion), above an analyst consensus of €11.7 billion compiled by the company.

Regional Performance Drivers

The state-controlled group said profitability in Italy was hit by a drop in hydroelectric generation, soft retail prices and a lower contribution from trading. ($1 = 0.8678 euros)

Reporting and Editorial Credits

(Reporting by Francesca LandiniEditing by Keith Weir)

Key Takeaways

  • Enel’s H1 ordinary EBITDA grew 3 % to €11.8 billion, slightly above the €11.7 billion consensus; strength came from its Spanish and Latin American units, while Italy suffered from lower hydro output, soft prices and trading margins.
  • This mirrors Q1 trends where ordinary EBITDA rose 3.6 % to €6 billion and ordinary net income climbed 3.9 % to €1.94 billion, confirming full‑year guidance for 2026 (“ordinary EBITDA 23.1–23.6 bn €”, net income 7.1–7.3 bn €).
  • Enel’s strategic plan for 2026–2028 allocates €53 billion in investments—66% split between renewables and grids—with a large focus on Iberia and Latin America, reinforcing growth areas that are offsetting domestic headwinds.

Frequently Asked Questions

What was Enel's core earnings growth in the first half of 2024?
Enel reported a 3% year-on-year rise in ordinary core earnings for the first half of 2024.
Which regions supported Enel's performance in H1 2024?
Spanish and Latin American units contributed significantly to Enel's performance in the first half of 2024.
How did Italian hydro power affect Enel’s profitability?
Profitability in Italy was impacted by a drop in hydroelectric generation, along with soft retail prices and lower trading contributions.
What was Enel's H1 EBITDA excluding extraordinary items?
Enel's earnings before interest, taxes, depreciation, and amortisation (EBITDA) excluding extraordinary items was €11.8 billion.
How did Enel's H1 EBITDA compare to analyst expectations?
Enel's EBITDA of €11.8 billion was above the analyst consensus of €11.7 billion.

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