The Enel Group recorded in the first quarter of this year a net profit of 1.247 billion euros, down 0.7% from the same period last year, which amounted to 1.256 billion euros.

The net profit from current activities was of 1.281 billion euros, 10.5% higher than in the first three months of 2019, excluding the exceptional elements from the two reference periods. The increase was determined by the improvement of the current operational performance, according to a company release quoted by Agerpres.

Revenues totaled 19.985 billion euros, down 12.2% from the 22.755 billion euros in the first quarter of 2019.

“The adjustment is mainly due to lower sales volumes of electricity in Italy and Spain, and gas in Spain, as well as Heat Generation and Trading activities in Italy, reflecting a decrease in trading activities and the effects related to the recent application of the IFRIC (International Financial Reporting Interpretations Committee) interpretations, in addition to the unfavorable evolution of the exchange rate, in particular in Brazil, Chile and Colombia,” the release states.