Italian utility Enel benefitted from raised power production from a number of plants which outweighs slumps in hydropower production.

Enel group ordinary net income came in at EUR 5.39bn, thereby outperforming analyst guidance of EUR 5.19bn, according to Bloomberg News.

But it also exceeds Enel Group guidance, amended in November on expectations of lower Italian asset contributions.

The result is mainly attributable to higher production volumes from geothermal plants as well as wind and solar power, which more than makes up for disappointing contributions from the company’s hydropower plants, writes the Italian utility in the financial report, according to Bloomberg News.

Enel managed to exceed company guidance ”thanks to the resilience of our integrated business model,” informs CEO Francesco Starace.

The company offers shareholders a dividend of EUR 0.40 per share, but does not reject improving it if the circumstances allow it.