Revenue and operating profits grew at Italian energy group Enel despite a “challenging” year that saw hydro- and wind resources squeezed in major markets, the company said in a preliminary results statement.

Enel increased revenue to €74.7bn ($92bn) last year, a 5.8% boost on 2016’s level, with earnings 2.6% higher at €15.7bn before interest, tax, depreciation and amortisation (Ebitda). That came despite a fall in generation output.