Enel SpA (OTCPK:ESOCF)

$ 7.22 0.355 (5.17%) Market Cap: 73.96 Bil Enterprise Value: 139.60 Bil PE Ratio: 21.11 PB Ratio: 2.16 GF Score: 78/100

Half Year 2020 Enel SpA Earnings Call Transcript

Jul 29, 2020 / 04:00PM GMT

Release Date Price: $9.51 (+1.96%)

Transcript

Francesco Starace

Enel SpA - CEO, GM & Director

Thank you, Monica, and good evening, everybody.

So let's look at the highlights of the period. So we are in Chart #2. Over the second quarter of the year, we have touched the peak of the crisis that is associated with COVID-19 across all the countries we operate in. You will see in the next slide how this context has evolved over the quarter and the extreme scenario that has materialized.

Despite this stressed environment, the group recorded a solid performance. Net ordinary income is up 6% year-on-year, demonstrating the resiliency of our business model, even against sudden and deep disruptions. Our strategy was not put on hold. Actually, dynamics of the business that we consider as being long-term trends has accelerated.

We made significant progresses on decarbonization. We commissioned 800 megawatts of renewable capacity, paving the way for a new record delivery for early installations in 2020. We shut down 2.1 gigawatts of coal and announced the accelerated closure of our coal plants in Chile, this is the last one, and

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