Enel Green Power’s earnings before interest, taxes and amortization in 2015 was €1.8bn, down slightly on 2014’s €1.9bn, according to the company’s preliminary results.
Revenues stood at €3bn, the same as in 2014, while net financial debt was up 15% on the previous year at €6.9bn.
The company said the fall in EBITDA reflected a decrease in income from disposals of investments and the formalisation – in the fourth quarter of 2015 – of a number of agreements to the early retirement of personnel in the Italy area.
The increase in debt was “mainly attributable to growth in installed capacity of EGP in line with what communicated in the company’s strategic plan”.
Some 1.5GW of new capacity was installed in 2015 bringing the total to 10.5GW. Some 6.6GW (63%) was wind power, 2.6GW (25%) hydroelectric, 0.8GW (8%) geothermal and 0.5 GW (4%) solar and biomass.
EGP generated 33.6TWh last year, of which 16.1TWh (48%) was from wind, 10.4TWh (31%) from hydro, 6.2TWh (18%) from geothermal and 0.9TWh (3%) from solar and biomass.
EGP chief executive officer and general manager Francesco Venturini said: “The company’s ability in accelerating growth has been proven by 1.5GW of additional installed capacity and by our flexibility in quickly addressing our portfolio and adapting it to changes in global scenarios.
“The sale of our Portuguese assets as well as the creation of a solar PV joint venture in Italy are an example of all the above.
“Furthermore in 2015 we took significant steps forward in new markets such as Asia through our entry in India, as well as Africa with additional 500 MW of solar to be developed in South Africa thus positioning ourselves as one of the main players in these areas with strong growth potential.”
Image: Enel Green Power
