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30 March 2007 - Italian utility Enel revenues in 2006 rose 14 per cent on year on year to €38.513bn largely due to higher revenues from international trading, generation and distribution activities.
The group's net profit dropped 22.1 per cent, however, which Enel said was due to strong comparatives in 2005.
Enel revealed that while total electricity and gas sales to final customers in its domestic market declined by 3.7 per cent in 2006, the utility's electricity sales abroad more than doubled, rising from 8.1 TWh in 2005, to 17.2 TWh in 2006. Enel said that this was due, in part, to its acquisition of the Russian company RusEnergosbyt.
Enel also said that its strategy of focusing on offers for small and medium sized Italian customers had allowed it to expand its customer base by 8.8 per cent at the end of 2006, despite a decline in volumes sold from 5.1 billion cubic meters in 2005 to 4.5bn cubic meters in 2006.
Enel revealed that, looking forward, it intends to strengthen its European and domestic position in electricity and gas production and distribution, by enhancing customer service and expanding its position in renewable resources in Europe and around the world, both organically and through acquisitions.
Fulvio Conti, CEO of Enel, remarked: "The excellent results achieved in 2006 confirm the validity of our strategy to pursue international growth and constantly improve operational management, encouraging us to press ahead with our vision."
Mr Conti continued: "Our entry into Endesa's share capital and the agreement signed with Acciona for the joint management of Endesa will further strengthen our international growth."
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