Report
Louis Boujard, CFA ...
  • Philippe Ourpatian

Enel : Confirmed restoration of financial flexibility

>Outperform rating and € 9.60 target price maintained - Enel’s definitive 2022 figures demonstrate its capacity to restore its financial trajectory, in line with its expectations. Ordinary operating performances beat its guidance. But adjusted for the € 1.8bn of capital gains included in ordinary EBITDA, recurrent EBITDA was affected by volatile and challenging market conditions. Management confirmed its 2023-2025e trajectory as presented last November. The strategic ...
Underlying
Enel SpA

Enel Societa Per Azioni is engaged in the generation and sale of electricity through its Generation, Energy Management and Sales Italy Division. Co. is also engaged in the distribution of electricity (Enel Distribuzione) and public and artistic lighting (Enel Sole) in Italy through its Infrastructure and Networks Division. Co.'s Iberia and Latin America Division coordinates Co.'s operations in the electricity and gas markets in Spain, Portugal and Latin America. Co.'s Engineering and Research Division manages the engineering processes related to the development and construction of power plants. Co.'s other divisions are the International Division as well as the Renewable Energy Division.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Louis Boujard, CFA

Philippe Ourpatian

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