By Giulia Petroni 
 

Enel SpA (ENEL.MI) raised its earnings and dividend forecasts through to 2021 and detailed its targets for 2022 ahead of a capital-markets day on Tuesday.

The Rome-based energy company raised its ordinary earnings before interest, tax, depreciation and amortization targets for 2019 and 2020, saying it expects 17.8 billion euros ($19.6 billion) and EUR18.6 billion, respectively.

This compares with Ebitda targets of about EUR17.4 billion for 2019 and EUR18.5 billion for 2020 in its previous plan.

Enel also said it expects net ordinary income of EUR5.8 billion in 2021, up from previous estimates of about EUR5.6 billion. It confirmed its expectations for ordinary Ebitda of EUR19.4 billion for the same year.

Enel set new targets for 2022, saying it now expects ordinary net ordinary income at EUR6.1 billion and ordinary Ebitda to reach EUR20.1 billion.

The company also raised its dividend targets to EUR0.35 a share for 2020 and EUR0.37 for a share for 2021, and said it is aiming for a dividend of EUR0.40 a share for 2022.

Enel said it expects total organic capital expenditure for 2020-2022 to be EUR28.7 billion, a 11% increase from the 2019-2020 plan.

 

Write to Giulia Petroni at giulia.petroni@wsj.com

 

(END) Dow Jones Newswires

November 26, 2019 03:15 ET (08:15 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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