Saturday, November 14, 2015

Broadband, Wind: “Well the initiative Enel, we are ready to cooperate” – Il Secolo XIX

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Rome – Enel breaks the delay on the optical fiber network creating a separate new company and entrusted to Tommaso Pompei, stores the first nine months of 2015 with a profit of 2 billion and is preparing the integration of Enel Green Power , which should be the highlight of the update of the plan scheduled for next week in London. The board, which met in the late afternoon yesterday, at the same time that the subsidiary EGP, has thus had several files to be examined. The main topic, of course, was the approval of the accounts: the January-September period ended with a net increase by 7.3% to € 2 billion and ordinary income, the value on which it calculates the dividend, up 42% to 2.6 billion. Well went in revenues (+ 3.6%), thanks in particular to Latin America and Italy, while Eastern Europe as ballast with a decline of 9.9%. The same geographical area, and in particular Romania, weight accounts of Enel Green Power, which with 155 million write-down of the assets held in the country closed the period with a net decrease of 38% to 245 million. It is a loss of value that also affects the third quarter of the parent company, with operating profit for the period fell by 43% and net by 9.2%.

From Enel arrive however the good news on the operational plan: “With a thousand megawatts of additional capacity that were added in the first nine months of the year, we demonstrated our ability to pick up the pace on road of development “, said the CEO Francesco Venturini, echoed the number one operating Enel, Francesco Starace, that ‘the resilience of our business in Italy and in the Iberian peninsula, together with the good performance of Latin America and renewable , drove the results of Enel in the first nine months of 2015, during which we have installed 1 GW of renewable capacity. “ The Enel, in short, increasingly relies on green energy for its growth, and it is This is the rationale that should lead to the integration of EGP . Nothing has been revealed about during the conference call with analysts, referred to the presentation of the strategic plan for the next week the details of an operation that, for the moment, is officially only “examination of the respective board of directors.” What is certain is that the continued sale of assets to reduce debt and today it was the turn of 49% of Hydro Dolomiti, rising to Fedaia to 335 million. The hypothesis has instead gone to the concreteness regarding TLC: Board of Directors of the giant electric has in fact “shared the opportunity to use the power grid managed by Enel Distribuzione in Italy for the construction of a fiber-optic infrastructure accessible to all TLC operators and approved the creation of a separate joint stock company, in order to initiate activities designed to operate in this field. “ is therefore coming the new company, open to all the other parties involved ( and Vodafone and Wind are ready to enter), which is discussed for some time and should participate in tenders especially in the areas of market failure for which the government has so far allocated 2.2 billion euro : the leadership of the new company will go to an old acquaintance of the industry, the former CEO of Wind Tommaso Pompei. The stock market, meanwhile, appreciates and rewards Enel with a gain of 1,29% and Enel Green Power, an increase of 2.04%.

Ibarra (Wind): “Well newco, ready to work”
CEO of Wind Maximo Ibarra, “very satisfied with the decision of Enel set up a company to” develop a network infrastructure ultra-wideband in the country and declares “ready to cooperate.” “It is an initiative – said in a statement – that goes in the direction we have always hoped for by our company to overcome the digital divide and providing Italy with a fiber network, in line with the growing needs of consumers and the development of digital services. ” “Wind, says Ibarra, is ready to work immediately on this project that will ensure the right conditions for equal access to operators, indispensable for a healthy competition and the development of a market even more competitive.”

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