· Revenues at 34,958 million euros (18,490 million euros in the first quarter of 2021, +89.1%)
- The positive change occurred in all business segments, mainly due to the higher quantities of electricity produced and sold at increasing average prices. The change was also affected by the gain from the partial sale of the equity investment in Ufinet
at 4,486 million euros (4,199 million euros in the first quarter of 2021, +6.8%)
- The increased margin reflecting higher output from conventional sources, alongside the positive effects from the new renewable capacity installed and the results deriving from commodity price risk management more than offset the negative effects of hydro generation, due to low water availability, as well as the higher provisioning costs in End-User Markets. The change is also attributable to the gain from the partial sale of the equity investment in Ufinet
at 4,446 million euros (4,131
million euros in the first quarter of 2021, +7.6%)
at 2,679 million euros (2,565
million euros in the first quarter of 2021, +4.4%)
- The change primarily reflects the positive operating performance, only partially offset by higher depreciation and amortization as well as write-downs of receivables
Group ordinary net income
at 1,443 million euros (1,214 million euros in the first quarter of 2021, +18.9%)
- The increase is attributable to the positive operating performance which includes the gain from the partial sale of the equity investment in Ufinet, to the lower impact of non-controlling interests, to the positive effects deriving from net financial results and to the income of companies accounted for using the equity method
Group net income
at 1,430 million euros (1,176 million euros in the first quarter of 2021, +21.6%)
: 59,130 million euros (51,952 million euros at the end of 2021, +13.8%)
The increase is mainly due to investments in the period, the acquisition of ERG Hydro S.r.l.
in Italy, the negative cash flow dynamics and the adverse exchange rate effect.
: 2,533 million euros (2,035 million euros in the first quarter of 2021, +24.5%)
- The increase is mainly attributable to the growth in capital expenditure in Enel Green Power, Infrastructure and Networks as well as in End-User Markets
" In the first quarter of 2022, the soundness of our business model enabled us to achieve solid results in line with expectations, minimizing risks arising from the difficult geopolitical and economic scenario, also with a view to protecting our stakeholders ," stated Francesco Starace , CEO of the Enel Group. "Through the Group’s integration across the value chain, its geographical and technological diversification, as well as the acceleration of energy transition investments, we can consolidate the implementation of our Strategy in the short, medium and long term, confirming 2022 guidance on EBITDA and net ordinary income ."
 The figure for the first quarter of 2021 was adjusted, for comparative purposes only, to take into account the effects of the different classification resulting from the measurement at fair value of outstanding contracts at the end of the period for the purchase and sale of commodities settled with physical delivery. This different classification did not have any effect on the margins recognized.
For comparative purposes only, a reclassification from financial income to revenues was made, for an amount of 40 million euros in the first quarter of 2021, of the component recognized in the income statement related to the remeasurement at fair value of financial assets related to service in concession of distribution activities in Brazil falling within the scope of IFRIC 12. This last classification had an effect of the same amount on the margins recognized.
 For comparative purposes only, the figure for the first quarter 2021 was adjusted to reflect the different classification mentioned above concerning the application of IFRIC 12 in Brazil.
 Now Enel Hydro Appennino Centrale S.r.l.
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