Enel Risultati Finanziari

7/31/2019 Enel Risultati Finanziari

1/46

Enel SpAI n v e s t o r Re l at i o n s

1 Q2 0 1 2 Re su l t s

May 10, 2012


2/46


1 Q2 0 1 2 r e su l t s A n n e x e s

1


3/46

Enel SpAI n v e s t o r Re l at i o n s1 Q 2 0 1 2 r e s u l t s

.

El e ct r i c it y d e m a n d 2 0 11 - 2 0 1 6 CA GR

-

El e ct r i ci t y d e m a n d 1 Q 2 0 1 2

1Q12 actu a l + .

+ 1 . 5 %Spain 1

.

- 1 . 0 %

+ 0 . 4 %I t a l y

Spain 1

FY12 bud ge t

1Q12 actu a l

+ 1 . 3 %Russia+ 2 . 8 %

- .

+ 1 . 0 %Russia

FY12 bud ge t

1Q12 ac tua l

FY12 bu dge t

+ 1 . 8 %Slovak i a- 0 . 8 %

+ 1 . 6 %Sl ovak i a

1Q12 actu a l

FY12 bud ge t

+ 5 . 1 %La tam 2 ,3+ 5 . 9 %

+ 4 . 4 %La tam 2 ,3

1Q12 actu a l

FY12 bud ge t

2

1. Peninsular2. Brazil, Chile (CIS), Colombia, Peru, Argentina3. Average demand growth weighted by production

Bu d g et Gr ow t h m ar k et sM at u r e m a r k e t s


4/46


1 Q1 1 1 Q1 2 % m n

Revenues

EBI TDA

1 9 , 5 3 6

4 , 3 9 9

+ 8 . 5

- 2 . 2

2 1 , 1 9 3

4 , 3 0 2

EB I TGr o u p n e t i n c om e

3 , 0 3 61 , 2 0 1

- 4 . 4- 1 . 4

2 , 9 0 21 , 1 8 4

Gr o u p n e t o r d i n a r y i n co m e

N e t d e b t

1 , 1 8 2

4 4 , 6 2 9

- 1 5 . 2

+ 2 . 2( 2 ) , ( 3 )

1 , 0 0 3

4 5 , 6 1 7( 3 )

3

1. Excluding capital gains, losses and one-off items2. As of December 31, 20113. Excluding net debt of assets held for sale


5/46


6/46


1 Q 2 0 1 2 r e s u l t s

Le v el o f t o t a l p r o d u c t i o n h ed g e d ( % )

I t a l y Spain1 0 0 1 0 0 1 0 0 1 0 0

~ 3 0 -3 5

~ 6 5 -7 0~ 5 5

~ 4 5 ( 1 )

~ 1 0

~ 9 0 ( 1 )

2 0 1 32 0 1 2 2 0 1 3 ( 2 )2 0 1 2

La t am Sl o v ak i a

~ 3 5 -4 0

~ 7 5 - 8 0

~ 2 0 -2 5~ 6 0

2 0 1 3

~ 6 0 -6 5

2 0 1 2 2 0 1 32 0 1 2Unhedged

~ 4 0

5

Hedged

1. Including roll-over2. Not including domestic coal output


7/46


1 Q 2 0 1 2 r e s u l t s

- 2 . 2 %

1 1 4 1

4 ,3 9 9 - 1 1 8 4 ,3 0 2- 3 - 3 0 - 2 6 + 6 1 - 1 1 + 3 0

3 7 9

,1 , 8 8 1

Othe r 1

9 8 4 9 5 4

4 2 3

M a r k e tI & N

G&EM

I b e r i a & L a t a mI n t e r n a t i o n a l

5 6 6 4 4 8

1 7 91 7 6

61. Including Services & Holding, Engineering & Innovation, upstream gas and nuclear activities

I t a l y I t a l y I t a l y L a t a m-n a t i o n a l


8/46


1 Q 2 0 1 2 r e s u l t s

- 2 0 . 8 %

-+ 4 3 - 8 0

4 4 8

1 Q1 1 Gen er a t i onm a r g i n

1Q12Trad ingm a r g i n

Othe r

7


9/46


- 1 . 7 %

+ 21 7 9 - 5 1 7 6

m a r k e tm a r k e t

8


10/46


1 Q 2 0 1 2 r e s u l t s

- 3 . 0 %

+ 69 8 4 - 2 9 5 4- 3 4

1 Q1 1 Con n ect i onfee s

1Q12Energym a r g i n

Othe r

9


11/46


1 Q 2 0 1 2 r e s u l t s

4 4 9 - 5 4+ 1 7

- 5 . 8 %

1 2 11 4 6

- 1 4 4 2 3+ 2 5

7 1 1 7

4 12 7

Russia

2 1 6 2 3 4SEEFran ce & Be lg ium

Cen t r e l

1 Q1 1 1 Q1 2Russ iaSEE 2C e n t r e l 1 France& B e l g i u m 3

1 0

1. Slovensk Elektrrne2. Romanian, Bulgarian and Greek operations3. Including Enel Investment Holding

l


12/46


Focu s on Russ ia : Sever En er g i a

1 Q 2 0 1 2 r e s u l t s

Pr o du ct i on ( b cm ) En el s st a k e

CA GR: ~ + 2 0 0 %

4 .7

0 .3

2 0 1 2 2 0 1 6

Moscow

Noviy Urengoy

Sev er En er i a t o b eco m e t h e seco n d in de en d en t

1 1

Russ i an gas p r odu cer

E l S A


13/46


1 - 2

1 Q 2 0 1 2 r e s u l t s

- 2 . 3 %

1 , 1 0 71 ,1 3 3 - 5 - 4 7 + 2 6

1 Q1 1 Li b er a l i zedb u s i n e s s

R e g u l a t e db u s i n e s s

1 Q 1 2O t h e r

1 21. Enels GAAP figures2. Including Ireland and Marocco

Enel SpA


14/46


1 -

1 Q 2 0 1 2 r e s u l t s

+ 1 2 . 7 %

7 7 46 8 7 - 8 3 + 8 2

+ 6 7 + 2 1

1 Q1 1 Gen er a t i o n D i s t r i b u t i o n 1 Q 1 2O t h e r Forexe f f e c t

1 31. Enels GAAP figures

Enel SpA


15/46


1 Q 2 0 1 2 r e s u l t s

+ 8 . 0 %

4 02 4

3 7

3 9 0 - 3 9- 43 5 1

+ 1 3 3 7 9+ 1 7+ 2

2

1 3 71 1 4

1 3 1

Enel .s i

2 1 3 2 1 3 2 0 9I t a l y a n d Eu r o p eI b e r i a an d La t i n A m e r i c a

1 Q1 1 I t a ly an dEurope

1Q12N o r t hA m e r i c a

Ot h er I b er i a an dL at i n A m e r i ca

Enel .s i1Q11a d j u s t e d

1 4

Enel SpA


16/46


1 Q2 0 1 2 r e su l t s

( 1 )

D e ce m b e r 3 1 ,2 0 11

CapexCash-f lowf r o m o p er a t i o n s

Ne t f i nanc i a lcha rges 2

Ext ra -o r d i n a r y

M a r ch 3 1 ,2 0 1 2

D i v i d e n d s 3

ac t iv i t i e s

+ 1 ( 4 ) + 1( 4 )

- 4 4 , 6 2 9 - 4 5 , 6 1 7

+ 1 0 1 9 - , - 7 4 7 - 7 8 + 1 5 4

1 5

1. Net debt change calculated on continuing operations2. Net financial charges due to interest expenses

3. Dividends paid to minorities4. Net financial debt of assets held for sale

Enel SpA


17/46

pI n v e s t o r Re l at i o n s

1 Q2 0 1 2 r e su l t s A n n e x e s

1 6

Enel SpA1 Q 2 0 1 2 l t O t i l


18/46

pI n v e s t o r Re l at i o n s1 Q 2 0 1 2 r e su l t s - Op e r a t i o n a l a n n e x e s

1 9 . 71 9 . 7

+ 0 . 0 %

Gr o u p p r o du ct i o n m i x

I t a l y

1 .2%2 3 . 2 %

3 8 . 5 %

2.7%1 8 . 0 %

7 8 . 07 3 . 5

.

2 9 . 4 %

7.7%

.

1 6 . 9 %

8.0%

+ 8 . 4 %

1 Q1 1 1 Q1 2.

1 6 . 7 %

2 8 . 0 %

.

1 6 . 3 %

3 3 . 3 %

5 8 . 35 3 . 8

1 7 . 5 %1 4 . 3 %

1 3 . 2 %4.3%

2 4 . 7 %

1 4 . 3 %

4.8%

1 9 . 4 % 1 5 . 0 %1 5 . 6 %

Oi l & gasCoalOt h e r r e n e w a b le s

1 Q1 1 1 Q1 2 2 4 . 2 %

3 . 1 %1 8 . 0 %

2 6 . 1 %

3.8%1 9 . 2 %

I n t e r n a t i o n al

1 7

CCGTNuclearH y d r o

1 Q1 1 1 Q1 22 2 . 9 % 2 0 . 3 %

Enel SpA1 Q 2 0 1 2 r e su l t s Op e r a t i o n a l a n n e x e s


19/46

I n v e s t o r Re l at i o n s1 Q 2 0 1 2 r e su l t s - Op e r a t i o n a l a n n e x e s

1 Q1 2 Gr o u p t o t a l n e t i n s t a l le d ca p a ci t y 1 : b r e ak d o w n b y so u r ce

O t h e rM W H y d r o N u cl ea r Co a l Oi l & g asCCGT TOTAL

a n d l o ca t i o n

r e n .

1 , 4 6 31 3 ,6 4 8 - 6 ,7 4 6

ST/ OCGT

1 2 , 0 2 2I t a l y 5 ,9 1 6 3 9 , 7 9 5

1 , 7 7 24 ,7 2 9 3 ,5 3 5 5 ,5 3 3 4 ,7 5 7 ( 3 )I b e r i a 4 ,6 8 2 ( 2 ) 2 5 , 0 0 8

-

5 , 4 0 17

( 4 )

2 ,3 2 9 1 ,8 1 6

-

8 4 9 4 0 0

-

Cen t r e l -

-

8 0 19 ,6 7 5 - 4 8 8 2 ,0 5 2Am er i cas 4 ,3 0 4 1 7 , 3 2 0

-- - 3 ,6 2 3 4 ,5 7 5Russ ia 8 0 9 9 , 0 0 7

1 8

4 , 6 9 73 0 ,4 0 0 5 ,3 5 1 1 7 ,2 3 9 2 3 ,8 0 6TOTAL 1 5 ,7 1 1

1. Including Group renewable capacity2. Including 123 MW of installed capacity in Morocco

9 7 , 2 0 4

3. Including 1,013 MW of installed capacity in Ireland4. Including 166 MW other renewable capacity in France

Enel SpA1 Q 2 0 1 2 r e su l t s Op e r a t i o n a l a n n e x e s


20/46

I n v e s t o r Re l at i o n s1 Q 2 0 1 2 r e su l t s - Op e r a t i o n a l a n n e x e s

1 Q2 0 1 2 Gr o u p t o t a l n e t p r o d u ct i o n 1 : b r e ak d o w n b y so u r ce a n d

GW h H y d r o N u cl ea r Co a l Oi l & g asCCGT TOTAL

l o c a t i o n

O t h e rST/ OCGT

I t a l y

r e n .

1 , 5 7 63 ,3 2 7 - 1 0 ,7 1 7 5 3 13 , 5 4 3 1 9 , 6 9 4

I b e r i a 1 ,0 6 41 ,0 1 9 7 ,2 7 6 8 ,7 4 1 2 ,4 1 6 ( 3 )2 , 1 2 0 ( 2 ) 2 2 , 6 3 6

C e n t r e l

-

5 , 6 118

( 4 )

1 ,1 5 0 3 ,8 9 7

-

5 5 6 -

-

-

-

Am er i cas 8 0 19 ,6 2 8 - 5 4 0 9 5 45 , 6 6 9 1 7 , 5 9 2

Russ ia -- - 5 ,3 8 2 5 ,3 7 91 , 3 4 3 1 2 , 1 0 4

1 9

TOTAL

1. Including Group renewable production2. Including 226 GWh of net production in Morocco

3. Including 7 GWh of net production in Ireland4. Including 91 GWh of net production in France

3 , 7 9 21 5 ,1 4 2 1 1 ,1 7 3 2 5 ,9 3 6 9 ,2 8 01 2 ,6 7 5 7 7 ,9 9 8

Enel SpA1 Q 2 0 1 2 r e su l t s - Op e r a t i o n a l a n n e x e s


21/46

I n v e s t o r Re l at i o n s1 Q 2 0 1 2 r e su l t s Op e r a t i o n a l a n n e x e s

1 Q2 0 1 2 r e n e w a b les n e t i n s t a l le d ca p aci t y : b r e ak d o w n b y so u r cea n d l o ca t i o n

7 2 21 ,5 3 1 1 ,2 7 2 8 2I t a ly &

E u r o p e3 , 6 0 7

-7 8 6 1 ,6 7 5 1 2 0I b er i a & 2 , 5 8 1

N o r t hA m e r i c a ,

2 ,6 3 0 7 6 9 3 ,5 5 2 2 5 0TOTAL 7 ,2 0 1

2 0

Enel SpA1 Q 2 0 1 2 r e su l t s - Op e r a t i o n a l a n n e x e s


22/46

I n v e s t o r Re l at i o n s1 Q 2 0 1 2 r e su l t s Op e r a t i o n a l a n n e x e s

1 Q2 0 1 2 r e n e w a b le s n e t p r o d u ct i o n : b r e ak d o w n b y so u r ce a n dl o c a t i o n

y r o n ereo er m a

I t a ly &

E u r o p e1 , 3 0 29 1 7 6 0 2 1 4 2 , 8 3 5

I b er i a & -9 1 4 9 7 5 1 2 0 2 , 0 0 9

N o r t hA m e r i c a ,

TOTAL 2 ,1 1 5 1 ,3 8 4 2 ,1 7 7 1 9 0 5 ,8 6 6

2 1

Enel SpAI t R l t i1 Q 2 0 1 2 r e s u l t s - Fi n a n ci a l a n n e x e s


23/46

I n v e s t o r Re l at i o n sQ

1 Q 2 0 1 2 EB I TD A

4 ,3 0 2 m n

4 8 %9 %

St a b i l i t y a n d h i g hv i s i b i l i t y

4 3 %

Forw ard s a l e s andh e d g in g p r o cu r e m e n t

Regu la t edEGP

co n r ac s o p r o ecm a r g i n

2 2

Enel SpAI n v e s t o r Re l at i o n s1 Q 2 0 1 2 r e s u l t s - Fi n a n ci a l a n n e x e s


24/46

I n v e s t o r Re l at i o n sQ

- 1

+ 3 1

+ 1 3 4 1

1 0

1 Q1 1 Ser v i ces 1 Q1 2O t h e r

2 31. Including Services & Holding, Engineering & Innovation, upstream gas and nuclear activities



25/46

I n v e s t o r Re l at i o n s

-

n esaEne l Group ( exc lud in g Endesa )

3 0 , 0 1 6

Bonds

B an k l o a n s a n d o t h e r s

3 , 0 5 1

3 , 9 7 0

,

7 , 0 2 1

5 , 1 0 6 6 , 4 7 72 6 , 9 4 3

< 1 2 m 2 Q 1 3 - 4 Q 1 3 2 0 1 5 2 0 1 6 A f t e r

2 , 1 3 9,

2 0 1 4

3 , 2 7 1

3 , 7 5 0

7 9 31 , 3 4 6

1 , 1 2 1

4 , 7 0 46 8 3

4 , 4 2 3

8 0 5

5 , 6 7 2

2 0 1 6

6 y e ar s an d 7 m o n t h

2 4

v er ag e co st o g r o ss e t : 5 .0 %



26/46

I n v e s t o r Re l at i o n s

Co m m i t t e d cr e d i t l i n e s

Am o u n t Av a i l ab l eO u t s t a n d i n g

2 3 ,9 9 5 5 ,5 1 6 1 8 , 4 3 9( 1 )

Ca s h a n d c a s h e q u i v a l e n t s

To t a l

U n co m m i t t e d l i n es

-

2 3 , 9 5 5

( 8 , 9 9 4 )

( 3 , 4 7 8 )

8 , 9 9 4

2 7 , 4 4 3

Co m m e r c i al p a p e r

To t a l l i q u i d i t y

,

9 , 3 0 0

3 4 , 9 7 97 , 0 6 0

3 , 7 0 2

,

2 , 2 3 93 1 , 2 7 6

2 5

1. Of which 15bn with maturity after 2014



27/46

1

Av er a g e d e b t m a t u r i t y : 6 y ea r s a n d 7 m o n t h s

Av e r a g e c o st o f g r o s s d e b t 2 : 5 . 0 %

( Fi x ed + h e dg ed ) / To t a l gr o ss lo n g - t e r m d eb t : 8 2 %

Rat in g : St an dar d & Po o r s = BBB+ / A- 2 St ab le Ou t lo o k

M o od y s = A 3 / P- 2 N eg a t i v e o u t l o o k

Fi t c h = A - / F2 N eg a t i v e o u t l o o kD e ce m b e r 3 1 ,

2 0 11 % m nM a r c h 3 1 ,

2 0 1 2

4 5 , 1 2 7

1 4 , 4 7 1

4 5 , 1 2 7

1 4 , 4 7 1

L o n g - t e r m

S h o r t - t e r m 3

L o n g - t e r m

S h o r t - t e r m 3

4 6 , 0 5 6

1 5 , 0 5 8

4 6 , 0 5 6

1 5 , 0 5 8

+ 2 . 1

+ 4 . 1

+ 2 . 1

+ 4 . 1

( 1 4 , 9 6 9 )

4 4 , 6 2 9

( 1 4 , 9 6 9 )

4 4 , 6 2 9

Cash 4

N e t d e b t

Cash 4

N e t d e b t

( 1 5 , 4 9 7 )

4 5 , 6 1 7

( 1 5 , 4 9 7 )

4 5 , 6 1 7

+ 3 . 5

+ 2 . 2

+ 3 . 5

+ 2 . 2

2 6

1. As of March 31st, 20122. Average cost of net debt equal to 6.5%3. Including current maturities of long-term debt4. Including factoring and other current receivables


28/46



29/46

1

En e l Sp A Sl o v en sk m n EFI 2 Ot h er To t a lEn d esa EI H 2 EP 2 ED 2

B o n d s 1 7 ,2 1 3 4 1 ,9 7 92 3 7---2 9 76 ,3 8 1 1 7 ,8 5 1

B an k l o a n s

Pr e f e r e n c e sh a r e s

Ot h e r l o a n s

2 , 4 6 6

-

( 1 6 0 )

1 3 , 0 0 4

1 8 0

( 6 , 4 2 8 )

1 , 8 2 5

-

( 4 6 2 )

2 , 9 7 4

-

( 4 6 6 )

6 0 5

-

( 2 4 7 )

8 3 9

-

( 5 8 4 )

-

-

-

2 , 7 8 3

1 8 0

( 4 , 5 0 9 )

1 , 5 1 2

-

-

Co m m e r c i al p a p e rO t h e r

-( 4 , 4 2 5 )

7 , 0 4 9( 1 0 , 1 6 7 )

-( 2 , 2 5 6 )

-( 8 6 )

-( 7 3 )

-( 1 )

-( 1 4 )

1 , 7 7 9( 3 , 3 1 2 )

5 , 2 7 0-

, ,,, ,

2 8

1. As of March 31st, 20122. EFI: Enel Financial International; EIH: Enel Investments Holding; EP: Enel Produzione; ED: Enel Distribuzione



30/46

Av er a g e r e si d u a l m a t u r i t y ( y e ar s : m o n t h s )

Av e r a g e c o st o f n e t d e b t Av e r a g e c o st o f g r o s s d e b t

4 . 6 % 4 . 9 %5.0%

5.5% 5.9%6 . 5 %

6 .86 .7 6 .7

N et f i n a n ci al d eb t ( b n )

2 0 1 0 2 0 1 1 1 Q1 22 0 1 0 2 0 1 1 1 Q1 2

Fi x e d + H e d g ed / To t a l n et d eb t

Fi x e d + H e d g ed / To t a l g r o ss l on g t er m d eb t

2 0 1 0 2 0 1 1 1 Q1 2

9 3 % 9 6 % 9 7 %7 9 % 7 8 % 8 2 %

44 .9 44 .6.

2 0 1 0 2 0 1 1 1 Q1 2 2 0 1 0 2 0 1 1 1 Q1 22 0 1 0 2 0 1 1 1 Q1 2

2 91. As of March 31st, 2012



31/46

-

m n < 1 2 m

2 Q1 3 - 4 Q1 3 2 0 1 4 Af t e r 2 0 1 62 0 1 5 2 0 1 6

Bank loansBondsOtherTo t a l

Bank loansBondsOtherTo t a l

360927

591 , 3 4 6

360927

591 , 3 4 6

2,317824130

3 , 2 7 1

2,317824130

3 , 2 7 1

2,5572,105

424 , 7 0 4

2,5572,105

424 , 7 0 4

6533,719

514 , 4 2 3

6533,719

514 , 4 2 3

3,22423,515

2042 6 , 9 4 3

3,22423,515

2042 6 , 9 4 3

1,1104,508

545 , 6 7 2

1,1104,508

545 , 6 7 2

m n < 1 2 m

Endesa

2 0 1 4 Af t er 2 0 1 62 0 1 5 2 0 1 62 1 3 - 4 1 3

Bank loans

Bonds 1

Bank loans

Bonds 1

222477222477

1,1862,2271,1862,227

364655364655

205419205419

6032,058

6032,058

203545203545

To t a lTo t a l 7 9 37 9 33 , 7 5 03 ,7 5 0 1 ,1 2 11 ,1 2 1 6 8 36 8 3 3 ,0 7 33 , 0 7 38 0 58 0 5

3 01. Including preference shares



32/46

1

60M credit facility for Endesa acquisition2009 credit facility for Endesa acquisition (2014)

1,9331,359

1,9331,359

--

Other committed credit lines 2

To t a l co m m i t t e d cr e d i t l i n e s

14,271

1 8 , 1 8 0

1,327

5 , 2 3 6

-12,944

1 2 , 9 4 4

er s or - erm an e uncomm e nes

To t a l c r e d i t l i n e s

Co m m e r c i al p a p e r

1 8 , 4 5 6

6 , 0 0 0

5 , 3 3 9

5 , 2 7 9

1 3 , 11 7

7 2 1

To t a l c r e d i t l i n e s + CP

Ca s h a n d c a s h e q u i v a l e n t s

To t al l i u id i t

2 4 , 4 5 6

-

2 4 , 4 5 6

1 0 , 6 1 8

( 5 , 7 8 6 )

4 , 8 3 2

1 3 , 8 3 8

5 , 7 8 6

1 9 , 6 2 4

3 1

1. As of March 31st, 20122. Including 1,420mn relating to a committed line pertaining to Slovenske Elektrarne



33/46

1

To t a l co m m i t t e d cr e d i t l i n e s

Am o u n t Av a i l ab l eO u t s t a n d i n g

5 ,7 7 5 2 8 0 5 ,4 9 5Other short-term bank debt uncommitted lines

To t a l c r e d i t l i n e s

1,448

7 , 2 2 3

17

2 9 7

1,431

6 , 9 2 6

To t a l c r e d i t l i n e s + CP

Cash and cash equivalents

,

1 0 , 5 2 2

-

,

2 , 0 7 8

(3,208)

,

8 , 4 4 4

3,208

To t a l l i q u i d i t y 1 ,5 2 2 ( 1 ,1 3 0 ) 1 1 ,6 5 2

3 21. As of March 31st, 2012



34/46

1

+ 1 6 . 1 %

7 5

1 , 3 1 4

4

,

2 7 52 0 4

Othe r 2

4 1 73 5 6

I b e r ia & L a t a m

M a r k e tI & NI n t e r n a t i o n a l

2 3 8 3 0 9

2 2 92 6 2

3 9 3 41 3

1 Q1 1 1 Q1 2

3 3

1. Continuing operations, gross of connection fees2. Including Services & Holding, Engineering & Innovation, upstream gas and nuclear activities



35/46

FY1 1 1 Q1 2 % m n

,

5 4 , 4 4 0

9 9 0 6 9

,

5 5 , 5 7 7

1 0 1 1 9 4

.

+ 2 . 1

+ 2 . 1

Sh a r e h o l d e r s e q u i t y

N et ca i t a l em lo ed

3 4



36/46

-

% m n 1 Q 1 21 Q 11

Revenues

EBI TDA

+ 1 8 .5

- 2 0 . 8

6 , 0 3 5

4 4 8

5 , 0 9 4

5 6 6

Capex

- .

- 1 2 . 83 43 9

( 1 )- .,,

3 51. As of December 31st, 2011



37/46

-

% m n 1 Q 1 21 Q 11

Revenues

EBI TDA

+ 8 . 0

- 1 . 7

5 , 3 2 5

1 7 6

4 , 9 3 0

1 7 9

Capex

- .

+ 2 0 0 . 031

( 1 )- .,,




38/46

-

% m n 1 Q 1 21 Q 11

Revenues

EBI TDA

+ 1 . 3

- 3 . 0

1 , 8 0 6

9 5 4

1 , 7 8 3

9 8 4

Capex

- .

+ 2 9 .83 0 92 3 8

( 1 )- .,,




39/46

% m n 1 Q 1 21 Q 11

Revenues

EBI TDA

+ 1 3 .6

- 5 . 8

2 , 3 0 0

4 2 3

2 , 0 2 5

4 4 9

Capex

+ .

+ 1 4 .42 6 22 2 9

( 1 )- .,,




40/46

% m n 1 Q 1 21 Q 11

Revenues

EBI TDA

+ 4 . 9

+ 3 . 4

8 , 4 9 1

1 , 8 8 1

8 , 0 9 7

1 , 8 2 0

Capex

+ .

- 1 4 . 6

,

3 5 6

,

4 1 7

( 1 ).,,




41/46

% m n 1 Q 1 21 Q 11

Revenues

EBI TDA

- 0 . 2

- 2 . 8

6 0 5

3 7 9

6 0 6

3 9 0

Capex

- .

3 4 . 82 7 52 0 4

( 1 ).,,




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1

m n

Revenues 2 4 7 4 4 6 1 - 2 .7H o l d i n g

Se rv ices

1 5 8

2 5 1

7 3

3 3 5

- 5 3 . 8

+ 33 .5

n g n e er n g n n o v a o n

U p s t r e a m

EBI TDA 3

1

1 1

1

4 1

- .

-

+ 2 7 2 . 7

H o l d i n g

Se rv ices

( 1 7 )

3 6

( 7 )

5 4

- 5 8 . 8

+ 50 .0

En g i n e e r i n g & I n n o v a t i o n

U p s t r e a m

( 1 )

( 4 )

( 2 )

( 4 )

+ 10 0

-

4 1

1. Including Services & Holding, Engineering & Innovation, upstream gas and nuclear activities2. Including Other & Elisions of -29mn in 1Q11 and -31mn in 1Q123. Including Other & Elisions of -3mn in 1Q11 and 0mn in 1Q12



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1 -

EB I T 2

m n

( 1 6 ) 1 5 n .m .

o n g

Se rv i ce s & o t he r

Eng in ee r i ng & I nn ova t i on

Ups t r eam

1 2

( 2 )

( 4 )

3 2

( 3 )

( 5 )

- .

+ 16 6 .7

+ 50 .0

+ 25 .0

Capex

H o l d i n g


4

1

3

7 5

0

1 0

+ 1 , 7 7 5

n .m .

+ 23 3 .3


Ups t r eam

H e a d c o u n t

0

0

6 , 5 0 2

0

6 5

6 , 4 8 6

-

n .m .

- 0 . 2( 3 )

H o l d i n g



Ups t r eam

8 7 3

4 , 2 4 5

1 , 3 2 7

5 7

8 6 3

4 , 2 5 7

1 , 3 0 7

5 9

-1 .1

+ 0 .3

-1 .5

+ 3 .5

4 2

1. Including Services & Holding, Engineering & Innovation, upstream gas and nuclear activities2. Including Other & Elisions of -3mn in 1Q11 and 0mn in 1Q123. As of December 31st, 2011



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- 4 . 4 %

3 , 0 3 6

2 , 9 0 2- 11 . 0 %

2 9 9 1 5

1 , 1 5 2

2 6 6

I b e r i a & L a t a m

t er

I n t e r n a t i o n a l

EGP+ 1 . 7 %1 , 1 7 2

2 9 4

M a r k e t

I & N

G&EM

.

- 4 . 6 %7 5 9

7 2 4

1 Q1 1 1 Q1 2

- 2 3 . 0 %- 3 0 . 5 %

9 44 2 6 2 9 6

- 1 6

4 31. Including Services & Holding, Engineering & Innovation, upstream gas and nuclear activities



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Th i s p r e se n t a t i o n m a y c on t a in c er t a in s t a t e m e n t s t h a t a r e n e i t h e r r e p or t e df i n a n ci al r e su l t s n o r o t h e r h i s t o r i ca l i n f o r m a t i o n ( f o r w a r d - l o o k i n gs t a t e m e n t s ) . Th e se f o r w a r d - l o o k i n g st a t e m e n t s ar e b a se d o n En e l S.p . A.s

.f o r w a r d - l o ok i n g st a t e m e n t s ar e s u b j e ct t o r i sk s a n d u n ce r t a i n t i e s, act u a l f u t u r er e su l t s m a y d i f f er m a t e r i al l y f r o m t h o se ex p r e sse d i n o r i m p l i ed b y t h e sest a t e m e n t s d u e t o a n y n u m b e r o f d i f f er e n t f a c t o r s , m a n y o f w h i ch a r e b e y on d

. . . ,

t h e r eg u l a t o r y e n v i r o n m e n t , f u t u r e m a r k e t d e v el o p m e n t s , f l u ct u a t i o n s i n t h ep r i c e a n d a v a il a b i li t y o f f u e l an d o t h e r r i s k s . Yo u a r e ca u t i o n e d n o t t o p l a ceu n d u e r e li an ce o n t h e f o r w a r d - l o o k i n g s t a t e m e n t s co n t a i n ed h e r e i n , w h i ch a r em a e o n y as o e a e o s p r esen a o n . n e .p . . o es n o u n er a ea n y o b l i g a t i o n t o p u b l i cl y r e l e as e a n y r e v i s io n s t o a n y f o r w a r d - l o o k i n gs t a t e m e n t s t o r e f l e ct e v e n t s o r c i r c u m s t a n ce s a f t e r t h e d a t e o f t h i s p r e s en t a t i o n .

u r su an o a r . - , p ar . , o e n e n an c a c o e r u ar y ,1 9 9 8 , t h e ex e c u t i v e i n ch a rg e o f p r e p a r i n g t h e c or p o r a t e a cc ou n t i n g d o c u m e n t sa t En e l , L u i g i Fe r r a r i s , d e c la r e s t h a t t h e a cc o u n t i n g i n f o r m a t i o n c o n t a i n e d h e r e i nco r r e sp o n d t o d o c u m e n t r e su l t s , b o o k s a n d a cco u n t i n g r e co r d s .

4 4



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. .

Luca Tor ch ia ( H ea d o f I R) + 3 9 0 6 8 30 5 3 4 37+ 3 9 0 6 8 30 5 3 4 37

Pe d r o Ca a m e r o ( Eq u i t y I R)

El isabe t t a Gh ezz i ( Fi x e d i n co m e I R)

+ 3 9 0 6 8 30 5 5 2 92

+ 3 9 0 6 8 30 5 2 7 08

+ 3 9 0 6 8 30 5 5 2 92

+ 3 9 0 6 8 30 5 2 7 08

M a t t e o Ca v a d i n i ( S t a f f ) + 3 9 0 6 8 30 5 2 3 26+ 3 9 0 6 8 30 5 2 3 26

M a r c o Do n a t i ( S t a f f )

Feder i ca Dor i ( S t a f f )

+ 3 9 0 6 8 30 5 9 2 52

+ 3 9 0 6 8 30 5 7 9 75

+ 3 9 0 6 8 30 5 9 2 52

+ 3 9 0 6 8 30 5 7 9 75

Vi si t o u r w eb si t e a t :Vi si t o u r w eb si t e a t :

Feder i ca Todar o ( S t a f f ) + 3 9 0 6 8 30 5 9 5 02+ 3 9 0 6 8 30 5 9 5 02

4 5

w w w .en el .co m ( I n v est o r Rel at i on s)w w w .en el .co m ( I n v est o r Rel at i on s)

Enel Risultati Finanziari

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