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Enel reports 3% rise in H1 core earnings despite drop in Italian hydro power
MILAN, July 30 (Reuters) - Italy's biggest utility Enel said on Thursday its Spanish and Latin American units supported the group's performance in the first half, with ordinary earnings up 3% year-on-year in the period.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) excluding extraordinary items came in at €11.8 billion ($13.6 billion), above an analyst consensus of €11.7 billion compiled by the company.
The state-controlled group said profitability in Italy was hit by a drop in hydroelectric generation, soft retail prices and a lower contribution from trading. ($1 = 0.8678 euros)
(Reporting by Francesca LandiniEditing by Keith Weir)
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