Enel falls, but brokers are convinced by the accounts. A downside to exploit?

Negative session in Piazza Affari for Enel shares following the release of intermediate accounts.

Enel falls, but brokers are convinced by the accounts. A downside to exploit?

Aided by the negative tone of the Ftse Mib, in the red by more than 1.3% in the wake of the return of tensions on duties, the energy giant's title drops to the halfway point of 13.30 at 6.89 euros, with a fall of 1.26% and about 17.4 million shares traded on the market so far, still at a distance from the average trading volumes of the last three months and equal to about 25 million shares.

Enel accounts for the first nine months and the new ebitda guidance

Sales hit the stock despite the group led by Francesco Starace having closed the first nine months with results in line with expectations, and well received by market analysts, even if conditioned by the decision to devalue coal-fired power plants in Italy, Spain, Chile and Russia: this value adjustment was reflected in the net result, which fell in the period by 73% to 813 million, but excluding extraordinary items, Enel's ordinary net profit rose to 3.295 billion euros, up 14%, 1% year on year and beyond the consensus expectations (3.268 billion).

Enel: improved EBITDA guidance

Enel also reported an increase in EBITDA of 8.9% to around € 13.2 billion, and net of extraordinary items of 10.5% to around € 13.268 billion, compared to the € 13.209 billion of the consensus. So much so that in presenting the accounts the company revised upwards the guidance on the consolidated ordinary EBITDA of 2019 to 17.8 billion, in other words the target of the plan (to about 17.4 billion), confirming in the meantime the target for profit consolidated ordinary net (around 4.8 billion).