Italy’s biggest utility Enel ENEL said on Thursday its full-year ordinary core profit rose 4% versus 2023, driven by strong renewable power generation which more than compensated for a normalisation in the group’s domestic retail business.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) excluding extraordinary items for the whole group came in line with analysts expectations at 22.8 billion euros.

Enel said it would pay a dividend of 0.47 euros per share, up from 0.43 euros/share paid in 2023.