SlideShare une entreprise Scribd logo
1  sur  46
Télécharger pour lire hors ligne
Enel SpA
                    Investor Relations




9M2012 Results




November 13, 2012
Enel SpA
                      Investor Relations



Agenda




  • Opening remarks

  • 9M2012 Results

  • Annexes




                        1
Enel SpA
                            Opening remarks                                                                         Investor Relations



              Electricity demand1 vs. plan assumptions



                         Electricity demand 9M2012                                    Electricity demand 2011-2016 CAGR



                   9M12 actual            -2.3%                                                Italy       +1.2%
Italy
                   FY12 budget                             +0.4%


                   9M12 actual                     -0.7%                                     Spain2         +1.5%
Spain2
                   FY12 budget                    -0.8%


                   9M12 actual                               +1.5%                           Russia        +1.3%
Russia
                   FY12 budget                              +1.0%


                   9M12 actual                             +0.3%                            Slovakia        +1.8%
Slovakia
                   FY12 budget                               +1.6%


                   9M12 actual                                         +4.8%                Latam3,4                 +5.1%
Latam3,4
                   FY12 budget                                         +4.4%



                                                              Budget     Mature markets   Growth markets
1.   Data not adjusted for working days and temperatures
2.   Peninsular
3.   Brazil, Chile (CIS), Colombia, Peru, Argentina                                                                   2
4.   Average demand growth weighted by production
Enel SpA
                      Investor Relations



Agenda




  • Opening remarks

  • 9M2012 Results

  • Annexes




                        3
Enel SpA
                          9M2012 results                                                     Investor Relations



            Financial highlights: consolidated




            €mn                                             9M11               9M12                %


            Revenues                                       57,496             61,899          +7.7

            EBITDA                                         13,284             12,761           -3.9

                   - recurring 1,2                         12,867             12,761           -0.8

            EBIT                                            9,014              8,200           -9.0

            Group net income                                3,492              2,808          -19.6

                                                                               2,627
                                                     1,2
            Group net ordinary income                       3,234                             -18.8
                                                                    (3),(4)            (4)
            Net debt                                       44,629             46,456          +4.1




1.   Excluding capital gains and losses
2.   Excluding EGP and G&EM fair value adjustments
3.   As of December 31, 2011
4.   Excluding net debt of assets held for sale                                                4
Enel SpA
              9M2012 results                                                       Investor Relations



   From EBIT to Net Income



 €mn                                                           9M11       9M12       %

EBIT                                                            9,014     8,200     -9.0

Net financial charges                                          (2,338)   (2,326)    -0.5
   Interest charges                                              2,053     2,148    +4.6
   Other                                                           285       178    -37.5
Net income from equity investments                                 78        65    -16.7
using equity method

EBT                                                             6,754     5,939    -12.1

Income tax                                                     (2,280)   (2,310)   +1.3
Net income (continuing operations & including third parties)    4,474     3,629    -18.9
Minorities                                                      (982)     (821)    -16.4

Group net income                                                3,492     2,808    -19.6




                                                                                     5
Enel SpA
                          9M2012 results                                                        Investor Relations



          Focus on forward electricity sales

                                          Level of total production hedged (%)

                                        Italy
                                                                            Spain
                            100                  100                100                100
                             ~5                 ~ 20
                                                                                       ~ 55

                           ~ 95(1)              ~ 80(1)
                                                                                       ~ 45

                           2012                 2013                2012              2013(2)

                                        Latam                              Slovakia
                            100                  100                100                100

                            ~ 20                                                      ~ 15
                                                 ~ 30


                            ~80                 ~ 70                                  ~ 85


                           2012                 2013                2012              2013
    Unhedged
    Hedged


1. Including roll-over
2. Not including domestic coal output                                                             6
Enel SpA
                          9M2012 results                                                                                       Investor Relations



          Group EBITDA evolution (€mn)


                                                                                   -3.9%


           13,284              -631
     105                                        +48              +206               -96           +27       -59    -18    12,761
              1,183                                                                                                                87
                                                                                                                          1,124




              5,562
                                                                                                                          5,589


                                                                                   Other1
              1,200                                                                EGP
                                                                                   Iberia & Latam                         1,104
                                                                                   International
                                                                                   I&N
              3,129                                                                Market
                                                                                                                          3,335
                                                                                   G&EM
                446
                                                                                                                           494
              1,659
                                                                                                                          1,028

             9M11            G&EM           Market              I&N            Inter-            Iberia &   EGP   Other   9M12
                             Italy           Italy              Italy         national            Latam

1. Including Services & Holding, Engineering & Innovation, upstream gas and nuclear activities                                     7
Enel SpA
     9M2012 results                                                   Investor Relations



EBITDA evolution: G&EM Italy (€mn)



                                -38.0%




   1,659       -162
                          +56            -265
                                                      -260

                                                              1,028




   9M11      Generation   Trading     Perimeter       Other   9M12
              margin      margin    and revaluation
                                        effects



                                                                        8
Enel SpA
     9M2012 results                                      Investor Relations



EBITDA evolution: Market Italy (€mn)



                             +10.8%


                                        +16       494
                       +32
             446




             9M11      Free           Regulated   9M12
                      market           market




                                                           9
Enel SpA
     9M2012 results                                         Investor Relations



EBITDA evolution: Infrastructure & Networks Italy (€mn)




                                  +6.6%



                                  -79       +201    3,335
                       +84
         3,129




         9M11         Energy   Connection   Other   9M12
                      margin      fees




                                                              10
Enel SpA
                     9M2012 results                                                           Investor Relations



       EBITDA evolution: International (€mn)



                                                               -8.0%




                         1,200                 -12       -90
                                                                         -21        +27     1,104

                           368
                                                                                            395
                            33
                                                                                            12
                           259
                                                                                            169
                                                                Russia
                                                                France & Belgium
                           540                                  SEE
                                                                                            528
                                                                Centrel



                         9M11                 Centrel1   SEE2          France      Russia   9M12
                                                                     & Belgium3




1. Slovenské Elektrárne
2. Romanian, Bulgarian and Greek operations                                                       11
3. Including Enel Investment Holding
Enel SpA
                        9M2012 results                                        Investor Relations



         EBITDA evolution1: Endesa - Iberia2 (€mn)



                                                  +0.7%



                                         +156      -202
                            3,214                             +69     3,237




                           9M11     Liberalized   Regulated   Other   9M12
                                     business      business




1. Enel’s GAAP figures
2. Including Ireland and Marocco                                                12
Enel SpA
                         9M2012 results                                                Investor Relations



          EBITDA evolution1: Endesa - Latam (€mn)



                                                      +0.2%



                          2,348      -176        +122         -59     +117     2,352




                          9M11    Generation   Distribution   Other   Forex    9M12
                                                                      effect




1. Enel’s GAAP figures
                                                                                         13
Enel SpA
            9M2012 results                                                              Investor Relations



    EBITDA evolution: Enel Green Power (€mn)


                                          -5.0%



                                                           +12.2%


    1,183       -181
                                                       +61          +21       -2         1,124
     181                     1,002       +42                                                        7
                                                                                           90
9                       9
      69                      69
                                                                                          356
     295                      295


                                                   Enel.si
                                                   North America
     629                      629                  Iberia and Latin America               671
                                                   Italy and Europe




     9M11       Other        9M11      Italy and     Iberia and      North    Enel.si    9M12
                            adjusted    Europe      Latin America   America




                                                                                          14
Enel SpA
                       9M2012 results                                                                                                           Investor Relations



        Net debt evolution (€mn)


                                                                                -1,827
                                                                                             (1)




             December 31,    Cash-flow                   Capex         Net financial               Taxes        Dividends3    Extra-      September 30,
                 2011     from operations                               charges2                                             ordinary         2012
                                                                                                                             activities
    +1(4)                                                                                                                                                 +1(4)




                -44,629                                                                                                                      -46,456




                                                         -4,451          -1,993
                                    +8,409                                                    -1,679             -2,083        -30




1. Net debt change calculated on continuing operations    3. Including 578€mn of dividends paid to minorities
2. Net financial charges due to interest expenses         4. Net financial debt of assets held for sale
                                                                                                                                                   15
Enel SpA
                      Investor Relations



Agenda




  • Opening remarks

  • 9M2012 Results

  • Annexes




                        16
Enel SpA
             9M2012 results - Financial annexes                                    Investor Relations



    Production mix (TWh)                                           -4.3%



                                                           60.0            57.4
                                                            1.4%            2.1%
                                                           22.3%           16.1%
    Group production mix

                                           Italy           38.6%           48.7%
            +2.6%
                                                           7.6%
                                                                            8.2%
   219.5               225.1                               30.1%
                                                                           24.9%

    13.1%              12.0%
                                                           9M11            9M12
    16.6%              14.5%

                                                                   +5.1%
    28.8%              31.3%


    13.3%              14.1%                               159.5           167.7
     4.1%               4.9%
                                                           17.5%           15.4%
    24.1%              23.2%
                                                           14.4%           14.0%

   9M11                9M12                International   25.2%           25.3%

                                                           18.3%           18.9%
Other renewables    Coal       Oil & gas                    2.8%            3.8%
Hydro               Nuclear    CCGT                        21.8%           22.6%


                                                           9M11            9M12
                                                                                     17
Enel SpA
                           9M2012 results - Financial annexes                                                                              Investor Relations


           9M2012 Group total net installed capacity1: breakdown by source
           and location

        MW                       Hydro                   Other         Nuclear                  Coal                CCGT    Oil & gas    TOTAL
                                                          ren.                                                              ST/OCGT

        Italy                  13,652                    1,473                     -         6,746                 5,916     12,026     39,813


       Iberia                    4,729                   1,794            3,535              5,533           4,682(2)       4,780(3)    25,053


     Centrel                     2,329                        7           1,816                  849                    -       400      5,401


         SEE                           19            727(4)                        -                  -            405(5)          -     1,151


   Americas                      9,678                   1,100                     -             488               3,872       2,473    17,611


      Russia                               -                   -                   -         3,623                   809       4,575     9,007


     TOTAL                   30,407                 5,101               5,351            17,239              15,684         24,254      98,036
1. Including Group renewable capacity                     4. Including 166 MW other renewable capacity in France
2. Including 123 MW of installed capacity in Morocco      5. Including 405 MW of installed capacity in Belgium                               18
3. Including 1,013 MW of installed capacity in Ireland
Enel SpA
                          9M2012 results - Financial annexes                                                                        Investor Relations


           9M2012 Group total net production1: breakdown by source and
           location

        GWh                    Hydro                Other         Nuclear                   Coal            CCGT    Oil & gas     TOTAL
                                                     ren.                                                           ST/OCGT

        Italy                14,279                 4,713                     -       27,975               9,218       1,184     57,369


      Iberia                   4,273                3,075          21,025             23,635             4,551(2)   7,395(3)     63,954


     Centrel                   3,200                   22          10,722                1,580                  -          -     15,524


        SEE                          36        1,017(4)                       -                   -       803(5)           -      1,856


   Americas                  30,388                 2,316                     -          1,746           14,398        4,504     56,352


      Russia                            -                  -                  -       15,409               3,682     13,908      32,999


     TOTAL                 52,176              11,143            31,747             70,345               32,652     26,991      225,054
1. Including Group renewable production              4. Including 246 GWh of net production in France
2. Including 686 GWh of net production in Morocco    5. Including 803 GWh of net production in Belgium                                19
3. Including 24 GWh of net production in Ireland
Enel SpA
           9M2012 results - Financial annexes                     Investor Relations


   9M2012 renewables net installed capacity: breakdown by source
   and location


 MW            Hydro        Geothermal           Wind   Other   TOTAL


Italy &
Europe
               1,532            722             1,323     113   3,690



Iberia &
 Latam
                 789               -            1,772     120   2,681



 North
America
                 313             47               830      48   1,238




TOTAL         2,634             769             3,925     281   7,609




                                                                    20
Enel SpA
           9M2012 results - Financial annexes                      Investor Relations


   9M2012 renewables net production: breakdown by source and
   location


 GWh           Hydro        Geothermal           Wind   Other    TOTAL


Italy &
               3,783          3,927             1,705      91    9,506
Europe



Iberia &
               2,736               -            2,838     355    5,929
 Latam



 North
                 699            182             1,740     162    2,783
America




TOTAL         7,218           4,109             6,283     608   18,218




                                                                     21
Enel SpA
     9M2012 results - Financial annexes                              Investor Relations



Group EBITDA: regulated/unregulated activities




          9M2012 EBITDA

            12,761 €mn
                                                Stability and high
                                                     visibility

                               9%
                                          52%



                               39%




         Forward sales and
       hedging procurement
        contracts to protect                    Unregulated
              margin                            Regulated
                                                EGP




                                                                       22
Enel SpA
          9M2012 results - Financial annexes                            Investor Relations



Enel’s long-term debt maturity profile (€mn)


        Endesa
        Enel Group (excluding Endesa)                          35,797
                                                                3,429




Bonds                          3,067

Bank loans and others          1,151
                                                       9,009   32,368

                                                       3,226


                                       6,015   5,115
                                                       5,783
        4,218                          1,152
                                                713
        2,029           460
                        793            4,863
        2,189            233                   4,402
                         227
        <12m            4Q13           2014    2015    2016     After
                                                                2016



                        6 years and 9 month
                   Average cost of gross debt: 4.9%

                                                                          23
Enel SpA
                          9M2012 results - Financial annexes                                                                                              Investor Relations



           Enel’s debt maturity profile (€bn)


          Total liquidity available                                                    Debt maturity profile
                                                                                                                                                        ~38.2(5)

                             ~21.4

            Bonds1             ~2.4




        Long term
        committed             ~11.9
       credit lines2                                                ~9.4
                                                                                                                                      ~9.0
                                                                ~5.2   (4)
                                                                                                   ~6.0             ~5.1
        Cash and               ~7.1
cash equivalents3                                                                                                                                                    Short term
                                                                    ~4.2         ~0.5
                                                                                                                                                                     Long term


                            9M 2012                                 < 12m        4Q13             2014               2015             2016              After2016



                              Liquidity available to cover maturities up to 2015

 1. Bonds issued after September 30th, 2012                            4. Commercial paper 4.1 €bn, short term debt 1.1 €bn as of September 30th 2012
 2. As of September 30th, 2012. Lines with maturities beyond 2014      5. Including bonds issued after September 30th, 2012
 3. As of September 30th, 2012                                                                                                                              24
Enel SpA
                    9M2012 results - Financial annexes                           Investor Relations



        Enel Group liquidity analysis (€mn)



                                                         Amount   Outstanding   Available


    Committed credit lines                               23,718       9,285      14,433(1)
    Cash and cash equivalents                                 -     (7,143)        7,143
    Total                                                23,718       2,142      21,576
    Uncommitted lines                                     1,646          34        1,612
    Commercial paper                                      9,309       4,132        5,177
    Total liquidity                                      34,673       6,308     28,365




1. Of which 12€bn with maturity after 2014
                                                                                   25
Enel SpA
                        9M2012 results - Financial annexes                                 Investor Relations



            Debt structure1


             • Average debt maturity: 6 years and 9 months
             • Average cost of gross debt2: 4.9%
             • (Fixed+hedged)/Total gross long-term debt: 70%
             • (Fixed+hedged)/Total net debt: 84%
             • Rating:            Standard&Poor’s = BBB+/A-2 Negative Outlook
                                  Moody’s3 = Baa2/P-2 Negative Outlook
                                  Fitch = BBB+/F2 Rating Watch Negative
                                                         December 31,   September 30,
                  €mn                                                                     %
                                                                2011            2012

                  Long-term                                   45,127          52,232    +15.7

                  Short-term4                                 14,471           9,430    -34.8

                  Cash5                                      (14,969)       (15,206)     +1.6

                  Net debt                                    44,629          46,456     +4.1

1.   As of September 30th, 2012
2.   Average cost of net debt equal to 6.1%
3.   As of November 5th, 2012
4.   Including current maturities of long-term debt                                           26
5.   Including factoring and other current receivables
Enel SpA
                     9M2012 results - Financial annexes                                                         Investor Relations



        Enel’s group financial debt evolution1


                                           Enel Group (excluding Endesa)              Endesa              Group - Total
 €mn
                                                    12.31.2011   09.30.2012   12.31.2011    09.30.2012    09.30.2012

Bank loans – maturities > 12m                            8,333       11,918         1,585        3,970          15,888
Bonds – maturities > 12m                                32,445       35,225         5,016        4,087          39,312
Preference shares > 12m                                      -            -           180            -               -
Other loans – maturities > 12m                             398          501           746          695           1,196
Financial receivables – maturities > 12m                -2,499       -3,092        -1,077       -1,072          -4,164

Total net LT debt - maturities > 12m                   38,677       44,552         6,450         7,680         52,232

Bank loans – maturities < 12m                           4,199          417          2,695           324             741
Bonds – maturities < 12m                                1,075        1,699          1,398         1,368           3,067
Preference shares < 12m                                     -             -             -           180             180
Other loans – maturities < 12m                            139            72           166           158             230
Financial receivables – maturities < 12m                 -110           -84        -5,522        -5,957          -6,041
Total net LT debt - maturities < 12m                    5,303        2,104        -1,263        -3,927          -1,823

Other ST bank debt                                        826           92            62           58             150
Commercial paper                                        2,016        3,547         1,188          582           4,129
Cash Collateral and other derivatives payables            650          855             -            -             855
Other ST financial debt                                     4           16            53           62              78
ST debt                                                 3,496        4,510         1,303          702           5,212

Factoring receivables                                     -370         -283             -             -            -283
Cash Collateral and other derivatives receivables       -1,076       -1,214             -             -          -1,214
Other ST financial receivables                            -592         -270          -232          -186            -456
Cash at banks and marketable securities                 -4,313       -5,436        -2,754        -1,776          -7,212
Total net ST debt (incl. current maturities)            2,448         -589        -2,946        -5,187          -5,776

Net financial debt                                     41,125       43,963         3,504         2,493         46,456



1. As of September 30th, 2012                                                                                      27
Enel SpA
                  9M2012 results - Financial annexes                                                                        Investor Relations



      Enel’s group financial debt by subsidiary1



€mn                        Enel SpA         Endesa            EFI2        EIH2 Slovenské               EP2          ED2    Other       Total


Bonds                        17,209         5,455       19,193             298               -            -            -    224     42,379
Bank loans                     1,314        4,294         4,247                -        900           582          3,186   2,106    16,629
Preference shares                     -        180               -             -             -            -            -       -         180
Other loans                    (168) (6,176)                     -             -     (619)         (272) (1,040)           (504)   (8,779)
Commercial paper                      -        582        3,547                -             -            -            -       -      4,129
Other                       (3,643) (1,842)                      -        (17)              4      (108)            (88) (2,388)   (8,082)
Total                        14,712         2,493       26,987             281          285           202          2,058   (562)    46,456




1. As of September 30th, 2012
2. EFI: Enel Financial International; EIH: Enel Investments Holding; EP: Enel Produzione; ED: Enel Distribuzione              28
Enel SpA
                  9M2012 results - Financial annexes                                            Investor Relations



         Enel’s group financial debt


Average cost of net debt    Average cost of gross debt        Average residual maturity (years:months)


           5.9%      6.1%                                                                        6:9
  5.5%
                                             4.9%   4.9%             6:8
                               4.6%                                                6:7




 2010      2011      9M12      2010      2011       9M12            2010          2011          9M12


             Net financial debt (€bn)                        Fixed + Hedged               Fixed + Hedged
                                                             /Total net debt        /Total gross long term debt
                                      46.5
                                                           93%    96%
           44.9                                                            84%           79%       78%
                        44.6                                                                                 70%




           2010         2011          9M12                 2010   2011     9M12          2010      2011      9M12




                                                                                                  29
Enel SpA
                    9M2012 results - Financial annexes                                Investor Relations



        Enel’s long-term debt maturity profile (€mn)


                 Enel Group (excluding Endesa)

                   €mn           <12m      4Q13          2014    2015    2016 After 2016


                Bank loans         417      146          2,678     617   1,194     7,283
                Bonds            1,699       43          2,133   3,722   4,515    24,812
                Other               73       38             52      63      74       273
                Total            2,189      227          4,863   4,402   5,783   32,368


                 Endesa

                   €mn           <12m      4Q13          2014    2015    2016 After 2016

                Bank loans         324       92        370        224    2,592      692
                Bonds            1,368      107        674        428      575    2,303
                Other1             337       34        108         61       59      434
                Total            2,029      233      1,152        713    3,226    3,429




1. Including preference shares
                                                                                           30
Enel SpA
                   9M2012 results - Financial annexes                                                            Investor Relations



       Enel Group liquidity analysis excluding Endesa (€mn)1


                                                                                        Amount   Outstanding   Available

  2009 credit facility for Endesa acquisition (2014)                                     1,359        1,359           -
  2009 credit facility for Endesa acquisition (2016)                                       617          617           -
  Other committed credit lines2                                                         17,778        4,910      12,868
  Total committed credit lines                                                          19,754        6,886     12,868
  Other short-term bank debt – uncommitted lines                                           196           30          166
  Total credit lines                                                                    19,950        6,916     13,034
  Commercial paper                                                                       6,000        3,549      2,451
  Total credit lines + CP                                                               25,950       10,465     15,485
  Cash and cash equivalents                                                                  -      (5,367)      5,367
  Total liquidity                                                                   25,950           5,098     20,852




1. As of September 30th, 2012
2. Including 1,420€mn relating to a committed line pertaining to Slovenske Elektrarne
                                                                                                                   31
Enel SpA
                  9M2012 results - Financial annexes                            Investor Relations



      Endesa liquidity analysis (€mn)1



                                                       Amount   Outstanding   Available


  Total committed credit lines                          3,964       2,399       1,565
  Other short-term bank debt – uncommitted lines        1,450           4        1,446
  Total credit lines                                    5,414       2,403       3,011
  Commercial paper issued by the Endesa Group           3,309         583        2,726
  Total credit lines + CP                               8,723       2,986       5,737
  Cash and cash equivalents                                 -      (1,776)       1,776
  Total liquidity                                      8,723       1,210       7,513




1. As of September 30th, 2012
                                                                                  32
Enel SpA
                  9M2012 results - Financial annexes                                                      Investor Relations



      Capex by business area (€mn)1


                                                             -6.2%


                                    4,665
                          30                                                         4,377
                                                                                                 101
                                     1,033
                                                                                       714



                                     1,425                                            1,472


                                                                                                       Other2
                                      979                                              794             EGP
                                                                                                       Iberia & Latam
                                                                                                       International
                                                                                                       I&N
                                      934                                             1,011
                                                                                                       Market
                          40                                                                     53    G&EM
                                      224                                              232
                                    9M11                                             9M12



1. Continuing operations, gross of connection fees
2. Including Services & Holding, Engineering & Innovation, upstream gas and nuclear activities
                                                                                                            33
Enel SpA
     9M2012 results - Financial annexes                        Investor Relations



Balance sheet




  €mn                                      FY11      9M12      %

  Net financial debt                      44,629    46,456   +4.1

  Shareholders’ equity                    54,440    55,853   +2.6

  Net capital employed                    99,069   102,309   +3.3




                                                                 34
Enel SpA
                  9M2012 results - Financial annexes               Investor Relations



       Generation & Energy Management - Italy




           €mn                           9M11           9M12       %


           Revenues                     15,345         17,222   +12.2

           EBITDA                        1,659          1,028   -38.0

           EBIT                          1,219           561    -54.0

           Capex                           224           232     +3.6
                                                 (1)
           Headcount                     6,277          6,177    -1.6




1. As of December 31st, 2011                                            35
Enel SpA
                  9M2012 results - Financial annexes                Investor Relations



       Market - Italy




           €mn                           9M11            9M12       %


           Revenues                     12,932          13,860    +7.2

           EBITDA                          446            494    +10.8

           EBIT                            220            161    -26.8

           Capex                             40            53    +32.5
                                                  (1)
           Headcount                     3,745           3,718    -0.7




1. As of December 31st, 2011                                             36
Enel SpA
                  9M2012 results - Financial annexes               Investor Relations



       Infrastructure & Network - Italy




           €mn                           9M11           9M12       %


           Revenues                      5,415          6,082   +12.3

           EBITDA                        3,129          3,335    +6.6

           EBIT                          2,442          2,556    +4.7

           Capex                           934          1,011    +8.2
                                                 (1)
           Headcount                    18,951         18,819    -0.7




1. As of December 31st, 2011                                            37
Enel SpA
                  9M2012 results - Financial annexes               Investor Relations



       International




           €mn                           9M11           9M12       %


           Revenues                      5,650          6,324   +11.9

           EBITDA                        1,200          1,104    -8.0

           EBIT                            771           825     +7.0

           Capex                           979           794    -18.9
                                                 (1)
           Headcount                    13,779         13,199    -4.2




1. As of December 31st, 2011                                            38
Enel SpA
                  9M2012 results - Financial annexes              Investor Relations



       Iberia & Latam




           €mn                           9M11           9M12      %


           Revenues                     24,029         25,140   +4.6

           EBITDA                        5,562          5,589   +0.5

           EBIT                          3,450          3,334   -3.4

           Capex                         1,425          1,472   +3.3
                                                 (1)
           Headcount                    22,877         23,087   +0.9




1. As of December 31st, 2011                                           39
Enel SpA
                  9M2012 results - Financial annexes              Investor Relations



       Enel Green Power




           €mn                           9M11          9M12       %


           Revenues                      1,859         1,924   +3.5

           EBITDA                        1,183         1,124    -5.0

           EBIT                            889          764    -14.1

           Capex                         1,033          714    -30.9
                                                 (1)
           Headcount                     3,229         3,432   +6.3




1. As of December 31st, 2011                                           40
Enel SpA
                    9M2012 results - Financial annexes                                                           Investor Relations



        Other1


        €mn                                                          9M11                        9M12      %


         Revenues2                                                 1,577                         1,380   -12.5
         Holding                                                       514                         232   -54.9
         Services                                                      878                       1,013   +15.4
         Engineering & Innovation                                      292                         239   -18.2

         Upstream                                                          1                         1       -

         EBITDA3                                                      105                          87    -17.1
         Holding                                                      (42)                        (40)    -4.8
         Services                                                      160                         143   -10.6
         Engineering & Innovation                                       (1)                          2    n.m.
         Upstream                                                     (13)                        (17)   +30.8


1. Including Services & Holding, Engineering & Innovation, upstream gas and nuclear activities
2. Including Other & Elisions of -108€mn in 9M11 and -105€mn in 9M12
3. Including Other & Elisions of 1€mn in 9M11 and -1€mn in 9M12
                                                                                                                   41
Enel SpA
                    9M2012 results - Financial annexes                                                           Investor Relations



        Other1 -           Continued



        €mn                                                          9M11                        9M12      %

           EBIT2                                                         23                        (1)   n.m.
           Holding                                                     (49)                       (47)    -4.1
           Services & other                                               88                        65   -26.1
           Engineering & Innovation                                      (3)                       (1)   -66.7
           Upstream                                                    (13)                       (17)   +30.8

           Capex                                                         30                       101    >100
           Holding                                                         3                         2   -33.3
           Services & other                                               25                        32   +28.0
           Engineering & Innovation                                        2                         2       -
           Upstream                                                        0                        65    n.m.

           Headcount                                                6,502 (3)                    6,445    -0.9
           Holding                                                      873                        847    -3.0
           Services & other                                           4,245                      4,251    +0.1
           Engineering & Innovation                                   1,327                      1,285    -3.2
           Upstream                                                       57                        62    +8.8


1. Including Services & Holding, Engineering & Innovation, upstream gas and nuclear activities
2. Including Other & Elisions of 0€mn in 9M11 and -1€mn in 9M12
3. As of December 31st, 2011                                                                                       42
Enel SpA
                   9M2012 results - Financial annexes                                                            Investor Relations



       EBIT by business area (€mn)


                                                                    -9.0%


                                          9,014
                                 23
                                             889                                           8,200
                                                                                                 764        -14.1%



       Other1                              3,450
       EGP                                                                                                  -3.4%
                                                                                             3,334
       Iberia & Latam
       International                         771
                                                                                                 825        +7.0%
       I&N
       Market                              2,442
       G&EM
                                                                                             2,556          +4.7%
                                             220
                                                                                                 161        -26.8%
                                           1,219                                                            -54.0%
                                                                                                 561
                                                                                                       -1     n.m.
                                          9M11                                             9M12


1. Including Services & Holding, Engineering & Innovation, upstream gas and nuclear activities                       43
Enel SpA
                                                                        Investor Relations



 Disclaimer



This presentation may contain certain statements that are neither reported
financial results nor other historical information (“forward-looking
statements”). These forward-looking statements are based on Enel S.p.A.’s
current expectations and projections about future events. Because these
forward-looking statements are subject to risks and uncertainties, actual future
results may differ materially from those expressed in or implied by these
statements due to any number of different factors, many of which are beyond
the ability of Enel S.p.A. to control or estimate precisely, including changes in
the regulatory environment, future market developments, fluctuations in the
price and availability of fuel and other risks. You are cautioned not to place
undue reliance on the forward-looking statements contained herein, which are
made only as of the date of this presentation. Enel S.p.A. does not undertake
any obligation to publicly release any revisions to any forward-looking
statements to reflect events or circumstances after the date of this presentation.

Pursuant to art. 154-BIS, par. 2, of the Unified Financial Act of February 24,
1998, the executive in charge of preparing the corporate accounting documents
at Enel, Luigi Ferraris, declares that the accounting information contained herein
correspond to document results, books and accounting records.


                                                                          44
Enel SpA
                                                                       Investor Relations



Contact us


     Investor Relations Team (investor.relations@enel.com)

 • Luca Torchia    (Head of IR)                           +39 06 8305 3437

 • Pedro Cañamero      (Equity IR)                        +39 06 8305 5292

 • Elisabetta Ghezzi    (Fixed income IR)                 +39 06 8305 2708



 • Matteo Cavadini     (Staff)                            +39 06 8305 2326

 • Marco Donati    (Staff)                                +39 06 8305 9252

 • Federica Dori   (Staff)                                +39 06 8305 7975

 • Federica Todaro     (Staff)                            +39 06 8305 9502


                                  Visit our website at:

                      www.enel.com (Investor Relations)
                                                                         45

Contenu connexe

Tendances

4Q_2005_Investors_Report
4Q_2005_Investors_Report4Q_2005_Investors_Report
4Q_2005_Investors_Report
finance16
 
bnsf 1Q 2006 Investors Report
bnsf 1Q 2006 Investors Reportbnsf 1Q 2006 Investors Report
bnsf 1Q 2006 Investors Report
finance16
 
conoco phillips 2007Fourth Quarter
conoco phillips 2007Fourth Quarterconoco phillips 2007Fourth Quarter
conoco phillips 2007Fourth Quarter
finance1
 
raytheon Q4 Earnings Presentation
raytheon Q4 Earnings Presentationraytheon Q4 Earnings Presentation
raytheon Q4 Earnings Presentation
finance12
 
walt disney Quarter 2008 4th
walt disney   Quarter 2008 4thwalt disney   Quarter 2008 4th
walt disney Quarter 2008 4th
finance7
 
walt disney First Quarter2008
walt disney First Quarter2008walt disney First Quarter2008
walt disney First Quarter2008
finance7
 
Expeditors International of Washington, 4th98qer
Expeditors International of Washington, 4th98qerExpeditors International of Washington, 4th98qer
Expeditors International of Washington, 4th98qer
finance39
 
bnsf 3Q 2002 Investors Report
bnsf 3Q 2002 Investors Reportbnsf 3Q 2002 Investors Report
bnsf 3Q 2002 Investors Report
finance16
 
bnsf 1Q_2005_Investors_Report
bnsf 1Q_2005_Investors_Reportbnsf 1Q_2005_Investors_Report
bnsf 1Q_2005_Investors_Report
finance16
 
bnsf 4Q 2001 Investors Report
bnsf 4Q 2001 Investors Reportbnsf 4Q 2001 Investors Report
bnsf 4Q 2001 Investors Report
finance16
 
Expeditors International of Washington, 3rd01qer
Expeditors International of Washington, 3rd01qerExpeditors International of Washington, 3rd01qer
Expeditors International of Washington, 3rd01qer
finance39
 
citigroup Financial Supplement July 18, 2008 - Second Quarter
citigroup Financial Supplement July 18, 2008 - Second Quartercitigroup Financial Supplement July 18, 2008 - Second Quarter
citigroup Financial Supplement July 18, 2008 - Second Quarter
QuarterlyEarningsReports
 
walt disney Quarter 2008 2nd
walt disney  Quarter 2008 2ndwalt disney  Quarter 2008 2nd
walt disney Quarter 2008 2nd
finance7
 

Tendances (20)

4Q_2005_Investors_Report
4Q_2005_Investors_Report4Q_2005_Investors_Report
4Q_2005_Investors_Report
 
bnsf 1Q 2006 Investors Report
bnsf 1Q 2006 Investors Reportbnsf 1Q 2006 Investors Report
bnsf 1Q 2006 Investors Report
 
conoco phillips 2007Fourth Quarter
conoco phillips 2007Fourth Quarterconoco phillips 2007Fourth Quarter
conoco phillips 2007Fourth Quarter
 
raytheon Q4 Earnings Presentation
raytheon Q4 Earnings Presentationraytheon Q4 Earnings Presentation
raytheon Q4 Earnings Presentation
 
walt disney Quarter 2008 4th
walt disney   Quarter 2008 4thwalt disney   Quarter 2008 4th
walt disney Quarter 2008 4th
 
walt disney First Quarter2008
walt disney First Quarter2008walt disney First Quarter2008
walt disney First Quarter2008
 
Expeditors International of Washington, 4th98qer
Expeditors International of Washington, 4th98qerExpeditors International of Washington, 4th98qer
Expeditors International of Washington, 4th98qer
 
Angel Ron presenta los resultados del tercer trimestre 2012
Angel Ron presenta los resultados del tercer trimestre 2012Angel Ron presenta los resultados del tercer trimestre 2012
Angel Ron presenta los resultados del tercer trimestre 2012
 
Resultados bancopopular
Resultados bancopopularResultados bancopopular
Resultados bancopopular
 
bnsf 3Q 2002 Investors Report
bnsf 3Q 2002 Investors Reportbnsf 3Q 2002 Investors Report
bnsf 3Q 2002 Investors Report
 
citigroup Qer084s
citigroup Qer084scitigroup Qer084s
citigroup Qer084s
 
bnsf 1Q_2005_Investors_Report
bnsf 1Q_2005_Investors_Reportbnsf 1Q_2005_Investors_Report
bnsf 1Q_2005_Investors_Report
 
bnsf 4Q 2001 Investors Report
bnsf 4Q 2001 Investors Reportbnsf 4Q 2001 Investors Report
bnsf 4Q 2001 Investors Report
 
Expeditors International of Washington, 3rd01qer
Expeditors International of Washington, 3rd01qerExpeditors International of Washington, 3rd01qer
Expeditors International of Washington, 3rd01qer
 
2011 Annual Sharholders’Meeting
2011 Annual Sharholders’Meeting2011 Annual Sharholders’Meeting
2011 Annual Sharholders’Meeting
 
citigroup Financial Supplement July 18, 2008 - Second Quarter
citigroup Financial Supplement July 18, 2008 - Second Quartercitigroup Financial Supplement July 18, 2008 - Second Quarter
citigroup Financial Supplement July 18, 2008 - Second Quarter
 
walt disney Quarter 2008 2nd
walt disney  Quarter 2008 2ndwalt disney  Quarter 2008 2nd
walt disney Quarter 2008 2nd
 
Second Quarter 2006 Earnings Presentation
Second Quarter 2006 Earnings PresentationSecond Quarter 2006 Earnings Presentation
Second Quarter 2006 Earnings Presentation
 
citigroup Qer084s
citigroup Qer084scitigroup Qer084s
citigroup Qer084s
 
HSBC 2008 Interim Results media Release
HSBC   2008 Interim Results media ReleaseHSBC   2008 Interim Results media Release
HSBC 2008 Interim Results media Release
 

Similaire à Enel 9M2012 Results

Generali Group 9M 2012 Results
Generali Group 9M 2012 ResultsGenerali Group 9M 2012 Results
Generali Group 9M 2012 Results
Generali
 
PostNord -Year-end Report 2012
PostNord -Year-end Report 2012 PostNord -Year-end Report 2012
PostNord -Year-end Report 2012
PostNord
 
Key figures as of March 31, 2012 - Conference call on May 4, 2012
Key figures as of March 31, 2012 - Conference call on May 4, 2012 Key figures as of March 31, 2012 - Conference call on May 4, 2012
Key figures as of March 31, 2012 - Conference call on May 4, 2012
ve-finance
 
9M 2012 Consolidated Results
9M 2012 Consolidated Results9M 2012 Consolidated Results
9M 2012 Consolidated Results
Terna SpA
 
Activity and Results 2012
Activity and Results 2012Activity and Results 2012
Activity and Results 2012
BANCO SANTANDER
 

Similaire à Enel 9M2012 Results (20)

2007 Results And 2008 2012 Business Plan
2007 Results And 2008 2012 Business Plan2007 Results And 2008 2012 Business Plan
2007 Results And 2008 2012 Business Plan
 
Enel 2012 Results & 2013-2017 Plan
Enel 2012 Results & 2013-2017 PlanEnel 2012 Results & 2013-2017 Plan
Enel 2012 Results & 2013-2017 Plan
 
Telecom Italia 1Q 2012 Results - Franco Bernabè (10/05/2012)
Telecom Italia 1Q 2012 Results - Franco Bernabè (10/05/2012)Telecom Italia 1Q 2012 Results - Franco Bernabè (10/05/2012)
Telecom Italia 1Q 2012 Results - Franco Bernabè (10/05/2012)
 
Deutsche Bank Access Italy Conference - Marco Patuano presentation (17/05/2012)
Deutsche Bank Access Italy Conference - Marco Patuano presentation (17/05/2012)Deutsche Bank Access Italy Conference - Marco Patuano presentation (17/05/2012)
Deutsche Bank Access Italy Conference - Marco Patuano presentation (17/05/2012)
 
Generali Group 9M 2012 Results
Generali Group 9M 2012 ResultsGenerali Group 9M 2012 Results
Generali Group 9M 2012 Results
 
2012 Interim Results, August 2, 2012
2012 Interim Results, August 2, 20122012 Interim Results, August 2, 2012
2012 Interim Results, August 2, 2012
 
2009 Interim Results July 31 2009
2009 Interim Results July 31 20092009 Interim Results July 31 2009
2009 Interim Results July 31 2009
 
Enel 1 Q 2009 Results May 12 2009
Enel 1 Q 2009 Results   May 12 2009Enel 1 Q 2009 Results   May 12 2009
Enel 1 Q 2009 Results May 12 2009
 
PostNord -Year-end Report 2012
PostNord -Year-end Report 2012 PostNord -Year-end Report 2012
PostNord -Year-end Report 2012
 
Quarterly report (Q4) 2008
Quarterly report (Q4) 2008Quarterly report (Q4) 2008
Quarterly report (Q4) 2008
 
Key figures as of March 31, 2012 - Conference call on May 4, 2012
Key figures as of March 31, 2012 - Conference call on May 4, 2012 Key figures as of March 31, 2012 - Conference call on May 4, 2012
Key figures as of March 31, 2012 - Conference call on May 4, 2012
 
Telecom Italia Group Full-Year 2011 Preliminary Results & 2012-14 Plan Outlin...
Telecom Italia Group Full-Year 2011 Preliminary Results & 2012-14 Plan Outlin...Telecom Italia Group Full-Year 2011 Preliminary Results & 2012-14 Plan Outlin...
Telecom Italia Group Full-Year 2011 Preliminary Results & 2012-14 Plan Outlin...
 
Telecom Italia FY 2009 Preliminary Results
Telecom Italia FY 2009 Preliminary ResultsTelecom Italia FY 2009 Preliminary Results
Telecom Italia FY 2009 Preliminary Results
 
SEB's second-quarter 2012 results presentation
SEB's second-quarter 2012 results presentationSEB's second-quarter 2012 results presentation
SEB's second-quarter 2012 results presentation
 
Merrill Lynch Global Telco and Media Conference - Marco Patuano presentation ...
Merrill Lynch Global Telco and Media Conference - Marco Patuano presentation ...Merrill Lynch Global Telco and Media Conference - Marco Patuano presentation ...
Merrill Lynch Global Telco and Media Conference - Marco Patuano presentation ...
 
Stora Enso Interim Review Q2 2012
Stora Enso Interim Review Q2 2012Stora Enso Interim Review Q2 2012
Stora Enso Interim Review Q2 2012
 
1 Q 2007 Consolidated Results
1 Q 2007 Consolidated Results1 Q 2007 Consolidated Results
1 Q 2007 Consolidated Results
 
9M 2012 Consolidated Results
9M 2012 Consolidated Results9M 2012 Consolidated Results
9M 2012 Consolidated Results
 
Telecom Italia 2009 Results
Telecom Italia 2009 ResultsTelecom Italia 2009 Results
Telecom Italia 2009 Results
 
Activity and Results 2012
Activity and Results 2012Activity and Results 2012
Activity and Results 2012
 

Plus de Enel S.p.A.

Enel 2013 Results. 2014-2018 Plan
Enel 2013 Results. 2014-2018 PlanEnel 2013 Results. 2014-2018 Plan
Enel 2013 Results. 2014-2018 Plan
Enel S.p.A.
 
Nuclear Power in Italy
Nuclear Power in ItalyNuclear Power in Italy
Nuclear Power in Italy
Enel S.p.A.
 
Il progetto CCS di Enel
Il progetto CCS di Enel Il progetto CCS di Enel
Il progetto CCS di Enel
Enel S.p.A.
 
The sustainable future: Promoting growth through sustainability
The sustainable future: Promoting growth through sustainabilityThe sustainable future: Promoting growth through sustainability
The sustainable future: Promoting growth through sustainability
Enel S.p.A.
 
Smart Grids: l’esperienza e la strategia Enel
Smart Grids: l’esperienza e la strategia Enel Smart Grids: l’esperienza e la strategia Enel
Smart Grids: l’esperienza e la strategia Enel
Enel S.p.A.
 
Wind Power Romania
Wind Power RomaniaWind Power Romania
Wind Power Romania
Enel S.p.A.
 

Plus de Enel S.p.A. (20)

9M 2014 Results
9M 2014 Results9M 2014 Results
9M 2014 Results
 
1H 2014 Financial Results Presentation
1H 2014 Financial Results Presentation1H 2014 Financial Results Presentation
1H 2014 Financial Results Presentation
 
1Q 2014 Results Presentation
1Q 2014 Results Presentation1Q 2014 Results Presentation
1Q 2014 Results Presentation
 
Enel 2013 Results. 2014-2018 Plan
Enel 2013 Results. 2014-2018 PlanEnel 2013 Results. 2014-2018 Plan
Enel 2013 Results. 2014-2018 Plan
 
Open Data e la Open Company
Open Data e la Open CompanyOpen Data e la Open Company
Open Data e la Open Company
 
Unconventional Oil & Gas: Reshaping Energy Markets
Unconventional Oil & Gas: Reshaping Energy MarketsUnconventional Oil & Gas: Reshaping Energy Markets
Unconventional Oil & Gas: Reshaping Energy Markets
 
Prospects for lng exports final
Prospects for lng exports finalProspects for lng exports final
Prospects for lng exports final
 
2012-2015: new regulatory period for electricity distribution and metering
2012-2015: new regulatory period for electricity distribution and metering2012-2015: new regulatory period for electricity distribution and metering
2012-2015: new regulatory period for electricity distribution and metering
 
2011 Results 2012-2016 Plan
2011 Results 2012-2016 Plan 2011 Results 2012-2016 Plan
2011 Results 2012-2016 Plan
 
L’Impegno Enel per la Mobilità Elettrica
L’Impegno Enel per la Mobilità ElettricaL’Impegno Enel per la Mobilità Elettrica
L’Impegno Enel per la Mobilità Elettrica
 
Gestión de Riesgos Socioambientales en la implementación de los parques eólicos
Gestión de Riesgos Socioambientales en la implementación de los parques eólicosGestión de Riesgos Socioambientales en la implementación de los parques eólicos
Gestión de Riesgos Socioambientales en la implementación de los parques eólicos
 
Renewable Energy and Storage Systems
Renewable Energy and Storage SystemsRenewable Energy and Storage Systems
Renewable Energy and Storage Systems
 
Fonti rinnovabili: l'energia del sole
Fonti rinnovabili: l'energia del soleFonti rinnovabili: l'energia del sole
Fonti rinnovabili: l'energia del sole
 
Why Italy Matters to the World
Why Italy Matters to the WorldWhy Italy Matters to the World
Why Italy Matters to the World
 
Nuclear Power in Italy
Nuclear Power in ItalyNuclear Power in Italy
Nuclear Power in Italy
 
Enel goes social
Enel goes socialEnel goes social
Enel goes social
 
Il progetto CCS di Enel
Il progetto CCS di Enel Il progetto CCS di Enel
Il progetto CCS di Enel
 
The sustainable future: Promoting growth through sustainability
The sustainable future: Promoting growth through sustainabilityThe sustainable future: Promoting growth through sustainability
The sustainable future: Promoting growth through sustainability
 
Smart Grids: l’esperienza e la strategia Enel
Smart Grids: l’esperienza e la strategia Enel Smart Grids: l’esperienza e la strategia Enel
Smart Grids: l’esperienza e la strategia Enel
 
Wind Power Romania
Wind Power RomaniaWind Power Romania
Wind Power Romania
 

Dernier

Terna - 1Q 2024 Consolidated Results Presentation
Terna - 1Q 2024 Consolidated Results PresentationTerna - 1Q 2024 Consolidated Results Presentation
Terna - 1Q 2024 Consolidated Results Presentation
Terna SpA
 
Corporate Presentation Probe Canaccord Conference 2024.pdf
Corporate Presentation Probe Canaccord Conference 2024.pdfCorporate Presentation Probe Canaccord Conference 2024.pdf
Corporate Presentation Probe Canaccord Conference 2024.pdf
Probe Gold
 

Dernier (20)

ITAU EQUITY_STRATEGY_WARM_UP_20240505 DHG.pdf
ITAU EQUITY_STRATEGY_WARM_UP_20240505 DHG.pdfITAU EQUITY_STRATEGY_WARM_UP_20240505 DHG.pdf
ITAU EQUITY_STRATEGY_WARM_UP_20240505 DHG.pdf
 
Camil Institutional Presentation_Mai24.pdf
Camil Institutional Presentation_Mai24.pdfCamil Institutional Presentation_Mai24.pdf
Camil Institutional Presentation_Mai24.pdf
 
Camil Institutional Presentation_Mai24.pdf
Camil Institutional Presentation_Mai24.pdfCamil Institutional Presentation_Mai24.pdf
Camil Institutional Presentation_Mai24.pdf
 
SME IPO Opportunity and Trends of May 2024
SME IPO Opportunity and Trends of May 2024SME IPO Opportunity and Trends of May 2024
SME IPO Opportunity and Trends of May 2024
 
Teekay Tankers Q1-24 Earnings Presentation
Teekay Tankers Q1-24 Earnings PresentationTeekay Tankers Q1-24 Earnings Presentation
Teekay Tankers Q1-24 Earnings Presentation
 
Osisko Gold Royalties Ltd - Corporate Presentation, May 2024
Osisko Gold Royalties Ltd - Corporate Presentation, May 2024Osisko Gold Royalties Ltd - Corporate Presentation, May 2024
Osisko Gold Royalties Ltd - Corporate Presentation, May 2024
 
Collective Mining | Corporate Presentation - May 2024
Collective Mining | Corporate Presentation - May 2024Collective Mining | Corporate Presentation - May 2024
Collective Mining | Corporate Presentation - May 2024
 
Terna - 1Q 2024 Consolidated Results Presentation
Terna - 1Q 2024 Consolidated Results PresentationTerna - 1Q 2024 Consolidated Results Presentation
Terna - 1Q 2024 Consolidated Results Presentation
 
Teck Supplemental Information, May 2, 2024
Teck Supplemental Information, May 2, 2024Teck Supplemental Information, May 2, 2024
Teck Supplemental Information, May 2, 2024
 
The Leonardo 1Q 2024 Results Presentation
The Leonardo 1Q 2024 Results PresentationThe Leonardo 1Q 2024 Results Presentation
The Leonardo 1Q 2024 Results Presentation
 
AMG Quarterly Investor Presentation May 2024
AMG Quarterly Investor Presentation May 2024AMG Quarterly Investor Presentation May 2024
AMG Quarterly Investor Presentation May 2024
 
Nicola Mining Inc. Corporate Presentation May 2024
Nicola Mining Inc. Corporate Presentation May 2024Nicola Mining Inc. Corporate Presentation May 2024
Nicola Mining Inc. Corporate Presentation May 2024
 
Diligence Checklist for Early Stage Startups
Diligence Checklist for Early Stage StartupsDiligence Checklist for Early Stage Startups
Diligence Checklist for Early Stage Startups
 
Osisko Gold Royalties Ltd - Q1 2024 Results
Osisko Gold Royalties Ltd - Q1 2024 ResultsOsisko Gold Royalties Ltd - Q1 2024 Results
Osisko Gold Royalties Ltd - Q1 2024 Results
 
Corporate Presentation Probe Canaccord Conference 2024.pdf
Corporate Presentation Probe Canaccord Conference 2024.pdfCorporate Presentation Probe Canaccord Conference 2024.pdf
Corporate Presentation Probe Canaccord Conference 2024.pdf
 
Osisko Development - Investor Presentation - May 2024
Osisko Development - Investor Presentation - May 2024Osisko Development - Investor Presentation - May 2024
Osisko Development - Investor Presentation - May 2024
 
Financial Results for the Fiscal Year Ended March 2024
Financial Results for the Fiscal Year Ended March 2024Financial Results for the Fiscal Year Ended March 2024
Financial Results for the Fiscal Year Ended March 2024
 
countries with the highest gold reserves in 2024
countries with the highest gold reserves in 2024countries with the highest gold reserves in 2024
countries with the highest gold reserves in 2024
 
Western Copper and Gold - May 2024 Presentation
Western Copper and Gold - May 2024 PresentationWestern Copper and Gold - May 2024 Presentation
Western Copper and Gold - May 2024 Presentation
 
Teekay Corporation Q1-24 Earnings Results
Teekay Corporation Q1-24 Earnings ResultsTeekay Corporation Q1-24 Earnings Results
Teekay Corporation Q1-24 Earnings Results
 

Enel 9M2012 Results

  • 1. Enel SpA Investor Relations 9M2012 Results November 13, 2012
  • 2. Enel SpA Investor Relations Agenda • Opening remarks • 9M2012 Results • Annexes 1
  • 3. Enel SpA Opening remarks Investor Relations Electricity demand1 vs. plan assumptions Electricity demand 9M2012 Electricity demand 2011-2016 CAGR 9M12 actual -2.3% Italy +1.2% Italy FY12 budget +0.4% 9M12 actual -0.7% Spain2 +1.5% Spain2 FY12 budget -0.8% 9M12 actual +1.5% Russia +1.3% Russia FY12 budget +1.0% 9M12 actual +0.3% Slovakia +1.8% Slovakia FY12 budget +1.6% 9M12 actual +4.8% Latam3,4 +5.1% Latam3,4 FY12 budget +4.4% Budget Mature markets Growth markets 1. Data not adjusted for working days and temperatures 2. Peninsular 3. Brazil, Chile (CIS), Colombia, Peru, Argentina 2 4. Average demand growth weighted by production
  • 4. Enel SpA Investor Relations Agenda • Opening remarks • 9M2012 Results • Annexes 3
  • 5. Enel SpA 9M2012 results Investor Relations Financial highlights: consolidated €mn 9M11 9M12 % Revenues 57,496 61,899 +7.7 EBITDA 13,284 12,761 -3.9 - recurring 1,2 12,867 12,761 -0.8 EBIT 9,014 8,200 -9.0 Group net income 3,492 2,808 -19.6 2,627 1,2 Group net ordinary income 3,234 -18.8 (3),(4) (4) Net debt 44,629 46,456 +4.1 1. Excluding capital gains and losses 2. Excluding EGP and G&EM fair value adjustments 3. As of December 31, 2011 4. Excluding net debt of assets held for sale 4
  • 6. Enel SpA 9M2012 results Investor Relations From EBIT to Net Income €mn 9M11 9M12 % EBIT 9,014 8,200 -9.0 Net financial charges (2,338) (2,326) -0.5 Interest charges 2,053 2,148 +4.6 Other 285 178 -37.5 Net income from equity investments 78 65 -16.7 using equity method EBT 6,754 5,939 -12.1 Income tax (2,280) (2,310) +1.3 Net income (continuing operations & including third parties) 4,474 3,629 -18.9 Minorities (982) (821) -16.4 Group net income 3,492 2,808 -19.6 5
  • 7. Enel SpA 9M2012 results Investor Relations Focus on forward electricity sales Level of total production hedged (%) Italy Spain 100 100 100 100 ~5 ~ 20 ~ 55 ~ 95(1) ~ 80(1) ~ 45 2012 2013 2012 2013(2) Latam Slovakia 100 100 100 100 ~ 20 ~ 15 ~ 30 ~80 ~ 70 ~ 85 2012 2013 2012 2013 Unhedged Hedged 1. Including roll-over 2. Not including domestic coal output 6
  • 8. Enel SpA 9M2012 results Investor Relations Group EBITDA evolution (€mn) -3.9% 13,284 -631 105 +48 +206 -96 +27 -59 -18 12,761 1,183 87 1,124 5,562 5,589 Other1 1,200 EGP Iberia & Latam 1,104 International I&N 3,129 Market 3,335 G&EM 446 494 1,659 1,028 9M11 G&EM Market I&N Inter- Iberia & EGP Other 9M12 Italy Italy Italy national Latam 1. Including Services & Holding, Engineering & Innovation, upstream gas and nuclear activities 7
  • 9. Enel SpA 9M2012 results Investor Relations EBITDA evolution: G&EM Italy (€mn) -38.0% 1,659 -162 +56 -265 -260 1,028 9M11 Generation Trading Perimeter Other 9M12 margin margin and revaluation effects 8
  • 10. Enel SpA 9M2012 results Investor Relations EBITDA evolution: Market Italy (€mn) +10.8% +16 494 +32 446 9M11 Free Regulated 9M12 market market 9
  • 11. Enel SpA 9M2012 results Investor Relations EBITDA evolution: Infrastructure & Networks Italy (€mn) +6.6% -79 +201 3,335 +84 3,129 9M11 Energy Connection Other 9M12 margin fees 10
  • 12. Enel SpA 9M2012 results Investor Relations EBITDA evolution: International (€mn) -8.0% 1,200 -12 -90 -21 +27 1,104 368 395 33 12 259 169 Russia France & Belgium 540 SEE 528 Centrel 9M11 Centrel1 SEE2 France Russia 9M12 & Belgium3 1. Slovenské Elektrárne 2. Romanian, Bulgarian and Greek operations 11 3. Including Enel Investment Holding
  • 13. Enel SpA 9M2012 results Investor Relations EBITDA evolution1: Endesa - Iberia2 (€mn) +0.7% +156 -202 3,214 +69 3,237 9M11 Liberalized Regulated Other 9M12 business business 1. Enel’s GAAP figures 2. Including Ireland and Marocco 12
  • 14. Enel SpA 9M2012 results Investor Relations EBITDA evolution1: Endesa - Latam (€mn) +0.2% 2,348 -176 +122 -59 +117 2,352 9M11 Generation Distribution Other Forex 9M12 effect 1. Enel’s GAAP figures 13
  • 15. Enel SpA 9M2012 results Investor Relations EBITDA evolution: Enel Green Power (€mn) -5.0% +12.2% 1,183 -181 +61 +21 -2 1,124 181 1,002 +42 7 90 9 9 69 69 356 295 295 Enel.si North America 629 629 Iberia and Latin America 671 Italy and Europe 9M11 Other 9M11 Italy and Iberia and North Enel.si 9M12 adjusted Europe Latin America America 14
  • 16. Enel SpA 9M2012 results Investor Relations Net debt evolution (€mn) -1,827 (1) December 31, Cash-flow Capex Net financial Taxes Dividends3 Extra- September 30, 2011 from operations charges2 ordinary 2012 activities +1(4) +1(4) -44,629 -46,456 -4,451 -1,993 +8,409 -1,679 -2,083 -30 1. Net debt change calculated on continuing operations 3. Including 578€mn of dividends paid to minorities 2. Net financial charges due to interest expenses 4. Net financial debt of assets held for sale 15
  • 17. Enel SpA Investor Relations Agenda • Opening remarks • 9M2012 Results • Annexes 16
  • 18. Enel SpA 9M2012 results - Financial annexes Investor Relations Production mix (TWh) -4.3% 60.0 57.4 1.4% 2.1% 22.3% 16.1% Group production mix Italy 38.6% 48.7% +2.6% 7.6% 8.2% 219.5 225.1 30.1% 24.9% 13.1% 12.0% 9M11 9M12 16.6% 14.5% +5.1% 28.8% 31.3% 13.3% 14.1% 159.5 167.7 4.1% 4.9% 17.5% 15.4% 24.1% 23.2% 14.4% 14.0% 9M11 9M12 International 25.2% 25.3% 18.3% 18.9% Other renewables Coal Oil & gas 2.8% 3.8% Hydro Nuclear CCGT 21.8% 22.6% 9M11 9M12 17
  • 19. Enel SpA 9M2012 results - Financial annexes Investor Relations 9M2012 Group total net installed capacity1: breakdown by source and location MW Hydro Other Nuclear Coal CCGT Oil & gas TOTAL ren. ST/OCGT Italy 13,652 1,473 - 6,746 5,916 12,026 39,813 Iberia 4,729 1,794 3,535 5,533 4,682(2) 4,780(3) 25,053 Centrel 2,329 7 1,816 849 - 400 5,401 SEE 19 727(4) - - 405(5) - 1,151 Americas 9,678 1,100 - 488 3,872 2,473 17,611 Russia - - - 3,623 809 4,575 9,007 TOTAL 30,407 5,101 5,351 17,239 15,684 24,254 98,036 1. Including Group renewable capacity 4. Including 166 MW other renewable capacity in France 2. Including 123 MW of installed capacity in Morocco 5. Including 405 MW of installed capacity in Belgium 18 3. Including 1,013 MW of installed capacity in Ireland
  • 20. Enel SpA 9M2012 results - Financial annexes Investor Relations 9M2012 Group total net production1: breakdown by source and location GWh Hydro Other Nuclear Coal CCGT Oil & gas TOTAL ren. ST/OCGT Italy 14,279 4,713 - 27,975 9,218 1,184 57,369 Iberia 4,273 3,075 21,025 23,635 4,551(2) 7,395(3) 63,954 Centrel 3,200 22 10,722 1,580 - - 15,524 SEE 36 1,017(4) - - 803(5) - 1,856 Americas 30,388 2,316 - 1,746 14,398 4,504 56,352 Russia - - - 15,409 3,682 13,908 32,999 TOTAL 52,176 11,143 31,747 70,345 32,652 26,991 225,054 1. Including Group renewable production 4. Including 246 GWh of net production in France 2. Including 686 GWh of net production in Morocco 5. Including 803 GWh of net production in Belgium 19 3. Including 24 GWh of net production in Ireland
  • 21. Enel SpA 9M2012 results - Financial annexes Investor Relations 9M2012 renewables net installed capacity: breakdown by source and location MW Hydro Geothermal Wind Other TOTAL Italy & Europe 1,532 722 1,323 113 3,690 Iberia & Latam 789 - 1,772 120 2,681 North America 313 47 830 48 1,238 TOTAL 2,634 769 3,925 281 7,609 20
  • 22. Enel SpA 9M2012 results - Financial annexes Investor Relations 9M2012 renewables net production: breakdown by source and location GWh Hydro Geothermal Wind Other TOTAL Italy & 3,783 3,927 1,705 91 9,506 Europe Iberia & 2,736 - 2,838 355 5,929 Latam North 699 182 1,740 162 2,783 America TOTAL 7,218 4,109 6,283 608 18,218 21
  • 23. Enel SpA 9M2012 results - Financial annexes Investor Relations Group EBITDA: regulated/unregulated activities 9M2012 EBITDA 12,761 €mn Stability and high visibility 9% 52% 39% Forward sales and hedging procurement contracts to protect Unregulated margin Regulated EGP 22
  • 24. Enel SpA 9M2012 results - Financial annexes Investor Relations Enel’s long-term debt maturity profile (€mn) Endesa Enel Group (excluding Endesa) 35,797 3,429 Bonds 3,067 Bank loans and others 1,151 9,009 32,368 3,226 6,015 5,115 5,783 4,218 1,152 713 2,029 460 793 4,863 2,189 233 4,402 227 <12m 4Q13 2014 2015 2016 After 2016 6 years and 9 month Average cost of gross debt: 4.9% 23
  • 25. Enel SpA 9M2012 results - Financial annexes Investor Relations Enel’s debt maturity profile (€bn) Total liquidity available Debt maturity profile ~38.2(5) ~21.4 Bonds1 ~2.4 Long term committed ~11.9 credit lines2 ~9.4 ~9.0 ~5.2 (4) ~6.0 ~5.1 Cash and ~7.1 cash equivalents3 Short term ~4.2 ~0.5 Long term 9M 2012 < 12m 4Q13 2014 2015 2016 After2016 Liquidity available to cover maturities up to 2015 1. Bonds issued after September 30th, 2012 4. Commercial paper 4.1 €bn, short term debt 1.1 €bn as of September 30th 2012 2. As of September 30th, 2012. Lines with maturities beyond 2014 5. Including bonds issued after September 30th, 2012 3. As of September 30th, 2012 24
  • 26. Enel SpA 9M2012 results - Financial annexes Investor Relations Enel Group liquidity analysis (€mn) Amount Outstanding Available Committed credit lines 23,718 9,285 14,433(1) Cash and cash equivalents - (7,143) 7,143 Total 23,718 2,142 21,576 Uncommitted lines 1,646 34 1,612 Commercial paper 9,309 4,132 5,177 Total liquidity 34,673 6,308 28,365 1. Of which 12€bn with maturity after 2014 25
  • 27. Enel SpA 9M2012 results - Financial annexes Investor Relations Debt structure1 • Average debt maturity: 6 years and 9 months • Average cost of gross debt2: 4.9% • (Fixed+hedged)/Total gross long-term debt: 70% • (Fixed+hedged)/Total net debt: 84% • Rating: Standard&Poor’s = BBB+/A-2 Negative Outlook Moody’s3 = Baa2/P-2 Negative Outlook Fitch = BBB+/F2 Rating Watch Negative December 31, September 30, €mn % 2011 2012 Long-term 45,127 52,232 +15.7 Short-term4 14,471 9,430 -34.8 Cash5 (14,969) (15,206) +1.6 Net debt 44,629 46,456 +4.1 1. As of September 30th, 2012 2. Average cost of net debt equal to 6.1% 3. As of November 5th, 2012 4. Including current maturities of long-term debt 26 5. Including factoring and other current receivables
  • 28. Enel SpA 9M2012 results - Financial annexes Investor Relations Enel’s group financial debt evolution1 Enel Group (excluding Endesa) Endesa Group - Total €mn 12.31.2011 09.30.2012 12.31.2011 09.30.2012 09.30.2012 Bank loans – maturities > 12m 8,333 11,918 1,585 3,970 15,888 Bonds – maturities > 12m 32,445 35,225 5,016 4,087 39,312 Preference shares > 12m - - 180 - - Other loans – maturities > 12m 398 501 746 695 1,196 Financial receivables – maturities > 12m -2,499 -3,092 -1,077 -1,072 -4,164 Total net LT debt - maturities > 12m 38,677 44,552 6,450 7,680 52,232 Bank loans – maturities < 12m 4,199 417 2,695 324 741 Bonds – maturities < 12m 1,075 1,699 1,398 1,368 3,067 Preference shares < 12m - - - 180 180 Other loans – maturities < 12m 139 72 166 158 230 Financial receivables – maturities < 12m -110 -84 -5,522 -5,957 -6,041 Total net LT debt - maturities < 12m 5,303 2,104 -1,263 -3,927 -1,823 Other ST bank debt 826 92 62 58 150 Commercial paper 2,016 3,547 1,188 582 4,129 Cash Collateral and other derivatives payables 650 855 - - 855 Other ST financial debt 4 16 53 62 78 ST debt 3,496 4,510 1,303 702 5,212 Factoring receivables -370 -283 - - -283 Cash Collateral and other derivatives receivables -1,076 -1,214 - - -1,214 Other ST financial receivables -592 -270 -232 -186 -456 Cash at banks and marketable securities -4,313 -5,436 -2,754 -1,776 -7,212 Total net ST debt (incl. current maturities) 2,448 -589 -2,946 -5,187 -5,776 Net financial debt 41,125 43,963 3,504 2,493 46,456 1. As of September 30th, 2012 27
  • 29. Enel SpA 9M2012 results - Financial annexes Investor Relations Enel’s group financial debt by subsidiary1 €mn Enel SpA Endesa EFI2 EIH2 Slovenské EP2 ED2 Other Total Bonds 17,209 5,455 19,193 298 - - - 224 42,379 Bank loans 1,314 4,294 4,247 - 900 582 3,186 2,106 16,629 Preference shares - 180 - - - - - - 180 Other loans (168) (6,176) - - (619) (272) (1,040) (504) (8,779) Commercial paper - 582 3,547 - - - - - 4,129 Other (3,643) (1,842) - (17) 4 (108) (88) (2,388) (8,082) Total 14,712 2,493 26,987 281 285 202 2,058 (562) 46,456 1. As of September 30th, 2012 2. EFI: Enel Financial International; EIH: Enel Investments Holding; EP: Enel Produzione; ED: Enel Distribuzione 28
  • 30. Enel SpA 9M2012 results - Financial annexes Investor Relations Enel’s group financial debt Average cost of net debt Average cost of gross debt Average residual maturity (years:months) 5.9% 6.1% 6:9 5.5% 4.9% 4.9% 6:8 4.6% 6:7 2010 2011 9M12 2010 2011 9M12 2010 2011 9M12 Net financial debt (€bn) Fixed + Hedged Fixed + Hedged /Total net debt /Total gross long term debt 46.5 93% 96% 44.9 84% 79% 78% 44.6 70% 2010 2011 9M12 2010 2011 9M12 2010 2011 9M12 29
  • 31. Enel SpA 9M2012 results - Financial annexes Investor Relations Enel’s long-term debt maturity profile (€mn) Enel Group (excluding Endesa) €mn <12m 4Q13 2014 2015 2016 After 2016 Bank loans 417 146 2,678 617 1,194 7,283 Bonds 1,699 43 2,133 3,722 4,515 24,812 Other 73 38 52 63 74 273 Total 2,189 227 4,863 4,402 5,783 32,368 Endesa €mn <12m 4Q13 2014 2015 2016 After 2016 Bank loans 324 92 370 224 2,592 692 Bonds 1,368 107 674 428 575 2,303 Other1 337 34 108 61 59 434 Total 2,029 233 1,152 713 3,226 3,429 1. Including preference shares 30
  • 32. Enel SpA 9M2012 results - Financial annexes Investor Relations Enel Group liquidity analysis excluding Endesa (€mn)1 Amount Outstanding Available 2009 credit facility for Endesa acquisition (2014) 1,359 1,359 - 2009 credit facility for Endesa acquisition (2016) 617 617 - Other committed credit lines2 17,778 4,910 12,868 Total committed credit lines 19,754 6,886 12,868 Other short-term bank debt – uncommitted lines 196 30 166 Total credit lines 19,950 6,916 13,034 Commercial paper 6,000 3,549 2,451 Total credit lines + CP 25,950 10,465 15,485 Cash and cash equivalents - (5,367) 5,367 Total liquidity 25,950 5,098 20,852 1. As of September 30th, 2012 2. Including 1,420€mn relating to a committed line pertaining to Slovenske Elektrarne 31
  • 33. Enel SpA 9M2012 results - Financial annexes Investor Relations Endesa liquidity analysis (€mn)1 Amount Outstanding Available Total committed credit lines 3,964 2,399 1,565 Other short-term bank debt – uncommitted lines 1,450 4 1,446 Total credit lines 5,414 2,403 3,011 Commercial paper issued by the Endesa Group 3,309 583 2,726 Total credit lines + CP 8,723 2,986 5,737 Cash and cash equivalents - (1,776) 1,776 Total liquidity 8,723 1,210 7,513 1. As of September 30th, 2012 32
  • 34. Enel SpA 9M2012 results - Financial annexes Investor Relations Capex by business area (€mn)1 -6.2% 4,665 30 4,377 101 1,033 714 1,425 1,472 Other2 979 794 EGP Iberia & Latam International I&N 934 1,011 Market 40 53 G&EM 224 232 9M11 9M12 1. Continuing operations, gross of connection fees 2. Including Services & Holding, Engineering & Innovation, upstream gas and nuclear activities 33
  • 35. Enel SpA 9M2012 results - Financial annexes Investor Relations Balance sheet €mn FY11 9M12 % Net financial debt 44,629 46,456 +4.1 Shareholders’ equity 54,440 55,853 +2.6 Net capital employed 99,069 102,309 +3.3 34
  • 36. Enel SpA 9M2012 results - Financial annexes Investor Relations Generation & Energy Management - Italy €mn 9M11 9M12 % Revenues 15,345 17,222 +12.2 EBITDA 1,659 1,028 -38.0 EBIT 1,219 561 -54.0 Capex 224 232 +3.6 (1) Headcount 6,277 6,177 -1.6 1. As of December 31st, 2011 35
  • 37. Enel SpA 9M2012 results - Financial annexes Investor Relations Market - Italy €mn 9M11 9M12 % Revenues 12,932 13,860 +7.2 EBITDA 446 494 +10.8 EBIT 220 161 -26.8 Capex 40 53 +32.5 (1) Headcount 3,745 3,718 -0.7 1. As of December 31st, 2011 36
  • 38. Enel SpA 9M2012 results - Financial annexes Investor Relations Infrastructure & Network - Italy €mn 9M11 9M12 % Revenues 5,415 6,082 +12.3 EBITDA 3,129 3,335 +6.6 EBIT 2,442 2,556 +4.7 Capex 934 1,011 +8.2 (1) Headcount 18,951 18,819 -0.7 1. As of December 31st, 2011 37
  • 39. Enel SpA 9M2012 results - Financial annexes Investor Relations International €mn 9M11 9M12 % Revenues 5,650 6,324 +11.9 EBITDA 1,200 1,104 -8.0 EBIT 771 825 +7.0 Capex 979 794 -18.9 (1) Headcount 13,779 13,199 -4.2 1. As of December 31st, 2011 38
  • 40. Enel SpA 9M2012 results - Financial annexes Investor Relations Iberia & Latam €mn 9M11 9M12 % Revenues 24,029 25,140 +4.6 EBITDA 5,562 5,589 +0.5 EBIT 3,450 3,334 -3.4 Capex 1,425 1,472 +3.3 (1) Headcount 22,877 23,087 +0.9 1. As of December 31st, 2011 39
  • 41. Enel SpA 9M2012 results - Financial annexes Investor Relations Enel Green Power €mn 9M11 9M12 % Revenues 1,859 1,924 +3.5 EBITDA 1,183 1,124 -5.0 EBIT 889 764 -14.1 Capex 1,033 714 -30.9 (1) Headcount 3,229 3,432 +6.3 1. As of December 31st, 2011 40
  • 42. Enel SpA 9M2012 results - Financial annexes Investor Relations Other1 €mn 9M11 9M12 % Revenues2 1,577 1,380 -12.5 Holding 514 232 -54.9 Services 878 1,013 +15.4 Engineering & Innovation 292 239 -18.2 Upstream 1 1 - EBITDA3 105 87 -17.1 Holding (42) (40) -4.8 Services 160 143 -10.6 Engineering & Innovation (1) 2 n.m. Upstream (13) (17) +30.8 1. Including Services & Holding, Engineering & Innovation, upstream gas and nuclear activities 2. Including Other & Elisions of -108€mn in 9M11 and -105€mn in 9M12 3. Including Other & Elisions of 1€mn in 9M11 and -1€mn in 9M12 41
  • 43. Enel SpA 9M2012 results - Financial annexes Investor Relations Other1 - Continued €mn 9M11 9M12 % EBIT2 23 (1) n.m. Holding (49) (47) -4.1 Services & other 88 65 -26.1 Engineering & Innovation (3) (1) -66.7 Upstream (13) (17) +30.8 Capex 30 101 >100 Holding 3 2 -33.3 Services & other 25 32 +28.0 Engineering & Innovation 2 2 - Upstream 0 65 n.m. Headcount 6,502 (3) 6,445 -0.9 Holding 873 847 -3.0 Services & other 4,245 4,251 +0.1 Engineering & Innovation 1,327 1,285 -3.2 Upstream 57 62 +8.8 1. Including Services & Holding, Engineering & Innovation, upstream gas and nuclear activities 2. Including Other & Elisions of 0€mn in 9M11 and -1€mn in 9M12 3. As of December 31st, 2011 42
  • 44. Enel SpA 9M2012 results - Financial annexes Investor Relations EBIT by business area (€mn) -9.0% 9,014 23 889 8,200 764 -14.1% Other1 3,450 EGP -3.4% 3,334 Iberia & Latam International 771 825 +7.0% I&N Market 2,442 G&EM 2,556 +4.7% 220 161 -26.8% 1,219 -54.0% 561 -1 n.m. 9M11 9M12 1. Including Services & Holding, Engineering & Innovation, upstream gas and nuclear activities 43
  • 45. Enel SpA Investor Relations Disclaimer This presentation may contain certain statements that are neither reported financial results nor other historical information (“forward-looking statements”). These forward-looking statements are based on Enel S.p.A.’s current expectations and projections about future events. Because these forward-looking statements are subject to risks and uncertainties, actual future results may differ materially from those expressed in or implied by these statements due to any number of different factors, many of which are beyond the ability of Enel S.p.A. to control or estimate precisely, including changes in the regulatory environment, future market developments, fluctuations in the price and availability of fuel and other risks. You are cautioned not to place undue reliance on the forward-looking statements contained herein, which are made only as of the date of this presentation. Enel S.p.A. does not undertake any obligation to publicly release any revisions to any forward-looking statements to reflect events or circumstances after the date of this presentation. Pursuant to art. 154-BIS, par. 2, of the Unified Financial Act of February 24, 1998, the executive in charge of preparing the corporate accounting documents at Enel, Luigi Ferraris, declares that the accounting information contained herein correspond to document results, books and accounting records. 44
  • 46. Enel SpA Investor Relations Contact us Investor Relations Team (investor.relations@enel.com) • Luca Torchia (Head of IR) +39 06 8305 3437 • Pedro Cañamero (Equity IR) +39 06 8305 5292 • Elisabetta Ghezzi (Fixed income IR) +39 06 8305 2708 • Matteo Cavadini (Staff) +39 06 8305 2326 • Marco Donati (Staff) +39 06 8305 9252 • Federica Dori (Staff) +39 06 8305 7975 • Federica Todaro (Staff) +39 06 8305 9502 Visit our website at: www.enel.com (Investor Relations) 45