Enel CEO Sees Net Debt Dropping to EUR40 Billion This Year
November 11 2013 - 6:28AM
Dow Jones News
By Liam Moloney
ROME--Enel SpA (ENEL.MI), Italy's largest utility, will end the
year less indebted than it forecast, Chief Executive Fulvio Conti
said in an interview Monday.
He told Italy's Radio24 that he sees net debt at EUR40 billion
($53.6 billion), less than the EUR44 billion posted at the end of
2012.
In its third-quarter results last week, Enel said net debt at
the end of September shrank to EUR43.99 billion from EUR44.52
billion three months earlier. At the time Mr. Conti said the
Rome-based utility expects net debt for the end of 2013 to be lower
than the EUR42 billion forecast.
Enel turned into Europe's most indebted utility after taking
over Endesa SA (ELE.MC) in 2007. Since then it has focused on
reducing the debt level.
Write to Liam Moloney at liam.moloney@wsj.com
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