Report
Louis Boujard, CFA ...
  • Philippe Ourpatian

Enel : The 2023 publication is in line and the 2026 trajectory confirmed

>Outperform rating maintained and target price adjusted to € 9.20 vs € 9.60 - The group reported 2023 performances in line with the consensus’ forecasts. The turnaround in the trajectory vs 2022 has materialised, with as expected a significant contribution to growth from EBITDA thanks to the generation and commercialisation benefited respectively from a far more favourable hydroelectric environment in Italy and Iberia and growth in unitary margins. Management confirm...
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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