Wednesday 26 August 2015

Enel report Q2 2015

Enel, Q2, 2015, report, front page

And those energy companies keep coming with their reports. Actually this has been out for a while but I have just not gotten around to take a closer look at it. Now I did and I am not that unhappy.

For the report in full please click here and for the previous summary then visit Enel report Q1 2015 and to get a better feeling for Enel then please take a look at analysis of Enel 2015.

What made me happy with this report was that they simply kept pumping and it did not look like the German bunk reports with an oh, so happy Q1 report which is then followed by a oh, not so happy Q2 report. With Enel we had a pretty flat result that were neither excellent in Q1 nor in Q2 but it was good enough. The revenue increase during Q2 was non existing but it is still looking ok for the running half year. The best improvement was with the earnings that are +10% for the running half year with 1.8 billion € which correspond to around 0.19 € per share. 

Enel, Q2, 2015, financial statement

In the report we could also see that their Iberia regions (so Italy, Spain, Portugal) are picking up the business a little bit and the best is in Latin America. Eastern Europe is a disappointment at the moment but happily it is a small part of the company.

Conclusion: Enel keeps doing so, so and compared to the other companies I own then they are doing pretty well at the moment! I keep my fingers crossed that the Italian, Spanish and Portuguese economies will pick up so that more electricity will be consumed in production. I will remain as a shareholder.

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