ENLAY - Enel: Business Enjoys Strong Tailwinds

2023-03-23 02:12:07 ET

Summary

• Enel is a leader in driving the energy transition and has a geographically dispersed, vertically integrated business model that positions it for growth opportunities in various energy-related businesses.
• FY22 results were better than expected, with higher net income, reduced gross debt impact, and management's reaffirmation of reduced liquidity needs throughout 2023.
• I expect cash flow to increase over the next two years, and ENLAY's balance sheet should improve as it sells assets to reduce debt.

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