Enel Plans to Invest EUR24.6 Billion in Next Three Years

11/21/17 03:00 AM EST
   By Pietro Lombardi 
 

Italian energy company Enel SpA (ENEL.MI) said Tuesday that it is planning 24.6 billion euros ($28.9 billion) in capital expenditure over the next three years, with a significant amount earmarked for digitalization.

The company expects to invest about EUR5.3 billion in digitalization and is targeting earnings before interest, taxes, depreciation and amortization of 18.2 billion euros ($21.4 billion) in 2020, compared with a EUR15.5 billion goal for 2017.

Enel confirmed it plans to pay out 70% of its ordinary after-tax income as dividends from 2018 onwards. For 2018 itself, the company said its minimum dividend would be EUR0.28, a 33% increase on the dividend it has guaranteed for 2017.

 

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

 

Corrections & Amplifications

This article was corrected at 1047 GMT because the original misstated the Ebitda goal for 2020 and its growth rate in the second paragraph. Enel SpA expects ordinary earnings before interest, taxes, depreciation and amortization of 18.2 billion euros ($21.4 billion) in 2020, compared with a EUR15.5 billion goal for 2017.

(END) Dow Jones Newswires

November 21, 2017 03:00 ET (08:00 GMT)

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