Investor Presentaiton
Profit & loss (Єmn)
enel
FY 2019
FY 2018
A yoy
Ordinary EBITDA
17,905
16,158
+11%
Higher D&A mainly due to IFRS16, consolidation of
Enel DX Sao Paulo and higher investments
D&A
(6,809)
(6,365)
+7%
EBIT
11,096
9,793
+13%
Financial expenses¹
Lower cost of debt by around 40bps
(2,413)
(2,370)
+2%
Results from equity investments
(88)
81
n.m.
EBT
8,595
7,504
+15%
Results from equity investments negatively
Impacted by North America JV unwinding
Income taxes
(1,960)
(1,864)
+5%
Minorities
(1,868)
(1,580)
+18%
Group net ordinary income²
Higher minorities due to increasing contribution of
activities in Latin America
4,767
4,060
+17%
1.
Includes other financial expenses (-101 €mn for FY 2018, -158 €mn for FY 2019)
2.
Excludes extraordinary items in FY 2018 (+729 €mn: +128 €mn earn out Retegas, +64 €mn EF Solar, +646 €mn Slovenske, -98 €mn impairment, -11 €mn Income on equity Powecrop) and FY
2019 (-2593 €mn: +97 €mn disposals Mercure plant, +49 €mn second tranche earn out Rete Gas, -1,412 €mn coal plants and other impairments Italy, -108 €mn impairment USA, -902
Єmn impairments coal plants Iberia, -151 €mn impairments coal plants Bocamina 1 and Tarapaca, -60 €mn impairment RGRES, -34 €mn Slovenske investment impairment and -4 €mn impairment
of financial asset for SE disposal; -38 €mn Devaluation FUNAC; -30 €mn Price adj Kafireas)
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