Банкеръ Weekly

Briefs

ENEL REPORTS PROCEEDS OF EUR30BN-PLUS FOR 2003

The Italian mega company Enel, majority owner of the thermoelectric power station Maritsa Iztok 3 and bidder for the privatisation of electricity distribution companies in Bulgaria, posted proceeds of EUR31.3BN-plus for 2003. The increase from 2003 is 23.3 per cent. Enel's gross profit exceeded EUR9.8BN, and its net profit totalled EUR2.5BN. Last year we realized a large part of our new strategy, drafted in September 2002. Our aim is to maintain our A credit rating in the future and pursue a policy of dividend ditribution, protecting the interests of our shareholders, Enel's Executive Director Paolo Scaroni said at a press conference in Italy. The dividend for 2003 is EUR0.36/share. Enel's activities in the management and production of electricity sector, accounting for EUR1.2BN, have had the most significant contribution for the increase of the company's gross profit. The growth from the previous year is 50 per cent. Enel insiders explains that the big heats in Western Europe last summer were among the reasons for the increased consumption of electricity.

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