Endesa S.a. · BME:ELE
Endesa — Analysts Meeting (Majorca 2006)
12 slides from Endesa's conference presentation, Jun 8, 2006
Slide 1: Analysts Meeting (Majorca 2006)
8 June 2006 Analysts Meeting (Majorca 2006) Rafael Miranda CEO
Slide 2: Business vision
Business vision . Competitiveness . Asset portfolio . Risk management (balance) . Fuel supply . Operational efficiency . Customers . Versus the regulatory risk . Consolidated improvement in quality of supply . Added-value products and services . Regulation . Deregulated business subject to market fo
Slide 3: In Spain and Portugal our growth commitment is based on an excellent portfolio of assets
In Spain and Portugal our growth commitment is based on an excellent portfolio of assets M(euro) 844 TACC 2004-2009 EBITDA growth 824 1.037 +26% 4.200 MM(euro) 10,3 Investment plan Generation Mainland Capex Generation Renewable Generation Islands Capex Distribution 1,1 1,5 1,4 4,3 1,8 Others10-12% 3
Slide 4: Competitiveness in fuel supplies
Fuel costs (euro)/MWh +6,07% 22,7 21,4 16,4 16,2 -1,22% Endesa Sector Endesa Sector 2005 1Q 2006 Competitiveness in fuel supplies (1) Total power-plant cost (excl. pumping cost) over total production (incl. hydroelectric) (2) Coal cost not reduced for premiums
Slide 5: CO2 supply
CO2 supply Possible mechanisms EUAs: Emission rights sold under the ETS CDM: Projects generating CERs in a non-Annex 1 country JI: Projects generating ERUs in an Annex 1 country Purchases ~ 10Mtn 2005 and 2006 deficit cover 62 Mtn with ERPA 21 Mtn with LOI 160 Mtn projects in portfolio CO2 is no lon
Slide 6: Endesa's capacity plan will enable us to continue with an excellent generation portfolio
Endesa's capacity plan will enable us to continue with an excellent generation porfolio Coal imports CCGT Renewable Islands MW 3.200 4.400 5.000 +33% +85% 3.000 +267% +150% 3.750 Increase in mainland 1.730 capacity 1.200 1.200 2005-2009 2004 2009 2004 2009 2004 2009 2004 2009 Endesa's Environmental
Slide 7: Portfolio of customers with intrinsic value and as cover against wholesale-price volatility
Portfolio of customers with intrinsic value and as cover against wholesale-price volatility (euro)/MWh 56,59 51,56 42,35 Profitable, appropriate price- risk cover RDL 3/2006 Underlying from Renewals sales in the liberalized maket
Slide 8: In distribution: payment for distribution activities needs adjustment
In distribution: Payment in return for distribution activities needs adjustment Improved quality to allow investment to be contained TIEPI 3:38 -34% 2:14 2003 2005 (euro)/MWh POR IRL ALE DIN AUS FRA GRE SUE BEL HOL ITA UK ESP NOR 32.0 30.6 29.9 29.1 26.5 23.2 22.4 21.9 19.7 18.9 18.8 17.9 14.7 14.3
Slide 9: Regulation issues pending
Regulation issues pending Development of the wholesale market Regulated business Environmental issues . RDL 3/2006 - Temporary nature (mechanism and price) . Term market development . Encouraging long-term bilateral contracts with major consumers . Improvement for distribution . Review of special re
Slide 10: Topics to be pursued
Topics to be pursued . Regulatory outlook in Spain . Energy and CO2 markets . Endesa's Supply Strategy . Bolonia Real Estate . Explanatory rules on Balearic Islands system . Non-mainland system: estimated impact of Ministerial Orders development
Slide 11: Disclaimer
Disclaimer This presentation contains certain "forward-looking statements" regarding anticipated financial and operating results and statistics and other future events. These statements are not guarantees of future performance and are subject to material risks, uncertainties, changes and other facto
Slide 12: Analysts Meeting (Majorca 2006) - Signatures
8 June 2006 Analysts Meeting (Majorca 2006) Rafael Miranda CEO SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. ENDESA, S.A. Dated: June 8 th , 2006 By: