Enel reports 3% rise in H1 core earnings despite drop in Italian hydro power
Enel reports 3% rise in H1 core earnings despite drop in Italian hydro power MILAN, July 30 (Reuters) - Italy's biggest utility Enel ENEI.MI 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.
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.
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 by Francesca Landini
Editing by Keith Weir)((francesca.landini@thomsonreuters.com; +39 02 66129437; Reuters Messaging: reutersitaly.thomsonreuters@reuters.net/))