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Investing.com -- On Thursday, Enel (BIT:ENEI) reported a 5.4% year-over-year increase in first-half 2025 revenues, supported by higher commodity sales and rising average prices on the wholesale market.
The company’s sales in H1 were €40.8 billion, while ordinary EBITDA rose 0.9% to €11.5 billion.
Enel said margin declines in Italy, driven by lower retail pricing and weaker hydro output, were more than offset by strong performance from Spanish operations, Argentina’s grid business, and Spain’s integrated energy activities.
Latin American contributions were dampened by a negative exchange rate effect of around €270 million.
Group net ordinary income rose 4.4% to €3.8 billion, reflecting “the positive performance of ordinary operations” and lower financial expenses due to reduced net financial debt. Net financial debt declined slightly to €55.4 billion from €55.8 billion at the end of 2024.
However, group EBITDA declined 11.6% to €11.1 billion due to the absence of extraordinary gains booked in 2024 from asset disposals under the group’s 2022–2024 plan. Similarly, net income fell 11% to €3.4 billion for the same reason.
“The results we achieved in the first half of 2025 once again confirm the effectiveness of our capital allocation strategy and advocacy initiatives in Europe and the Americas,” said CEO Flavio Cattaneo.
He added that the group’s net ordinary income is “expected to reach the highest range of the guidance at year-end” and said a newly announced buyback program would enhance shareholder returns beyond the current dividend policy.