Enel 2018 core earnings rise 3.8 percent boosted by green margins

FILE PHOTO: The new logo of Italy's biggest utility Enel is seen inside its flagship store in downtown Milan, Italy, May 4, 2018. REUTERS/Stefano Rellandini

MILAN (Reuters) - Enel said on Wednesday its core earnings last year rose 3.8 percent, boosted by stronger margins in its renewable businesses in Italy, Spain and South America.

In preliminary results, Italy’s biggest utility said its ordinary earnings before interests, tax, depreciation and amortisation (EBITDA) were 16.2 billion euros (14.2 billion pounds), in line with its own targets.

Enel, which controls Spanish utility Endesa, said its net debt at the end of the year was 41.1 billion euros, up 9.9 percent on the year.

Reporting by Stephen Jewkes; editing by Agnieszka Flak