Enel Spa Unsp/Adr (ENLAY) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good evening to all the people connected. Welcome to the first half 26 result presentation. NLCO Flavio Cattaneo will open with the key highlights and our CFO Stefano De Angelis will present the economic and financial result of the period. We ask those connected to the webcast to send questions only via email at investor.relations.nl.com Before we start, let me remind you that media is listening both to the presentation and the Q&A session. Thank you. And now let me hand over to the CEO. Thank you, Omar. Welcome, everybody. Over the past months, we have continued to deliver on the strategy presented at the Capital Market Day and our results confirm a steady execution. Indeed, in the first half, EBITDA and net income increased by 3% year-on-year, reaching respectively 11.8 and 3.9 billion, in line with our expectations. In fact, due to the contribution of our activities in Spain and Latin America, we have been able to offset the impact of the Italian energy decree, as Stefano will detail later on. The strategic turnaround has improved the quality and the visibility of our earnings, reducing our exposure to market volatility. Growth Continuous to come from stronger underlying business performance and at the same time we're moving forward with both brownfield and greenfield investment while maintaining strict financial discipline. The focus on execution drove a 5% increase in earnings per share so far at 40 euro cents. These results allow us to expect full-year EPS at the top end of our guidance range. Let me now turn to our execution and the progress of our asset turnaround. Our asset base comes from tier 1 countries and more than 90% from regulated secured business with a low risk profile. Let me now show our progress in capital allocation across both Greenfield and B...