Enel SpA Earnings Recaps
Q3 2025
Nov 15, 2025
Enel reported strong financial results for the nine months ended September 2025, with EBITDA reaching EUR 17.3 billion and net income of EUR 5.7 billion, driven by strategic focus on European markets and operational efficiencies.
Key takeaways
- EBITDA conversion to net income improved, now at 33%, with a target of exceeding 30% for the full year.
- Share buyback program of EUR 6 billion underway, enhancing shareholder returns while maintaining a stable net debt to EBITDA ratio of 2.5x.
- Interim dividend planned for January, representing 50% of the annual guidance floor, indicating a commitment to shareholder remuneration.
- Operations in Spain and Colombia were particularly strong, while results in Italy were impacted by lower water resources.
- Positive cash flow reported in the U.S. for the first time, showcasing effective portfolio management and strategic execution.