Enel makes one year's worth of profit in six months

Italian utility giant Enel logged EBITDA worth 44 million euros through the two electricity distribution companies it took over last year, Electrica Banat and Electrica Dobrogea, the group’s first half report shows.
This is more than posted by the two electricity distribution companies in 2005, the first year under Enel’s ownership, when cumulated profits reached 42 million euros.
The business of the two distributors in the first six months of 2006 totalled 169 million euros, compared with 136 million euros in the first three months.
Fulvio Conti, CEO of Enel, says the strategy of the group he runs in Romania is to become an integrated company set to expand from distribution to production, as well.
“We want to become a vertically integrated operator in Romania, and are still pursuing opportunities in the electrical, thermal, renewable and nuclear power production sectors. We are constantly monitoring the Cernavoda project,” Mediafax quoted Fulvio Conti as saying in Rome yesterday.
The Italians have reconfirmed their intentions about the domestic market, planning to acquire the status of an integrated operator by securing some electrical power generation facilities.
The Enel official said the group was looking into the possibility of developing wind energy projects in Romania.
As for the acquisition of Electrica Muntenia Sud, Conti stated the takeover of this distribution company would be finalised in the first half of 2007.
In June, Enel won the race for the privatisation of the most valuable electricity distributor, Electrica Muntenia Sud.
The Italians will pay 820 million euros to get 67.5% in this company and, as a result, will become the biggest player on the energy market in Romania, with a share of approximately 30%.
Enel took over electricity distributors in Banat and Dobrogea last autumn.