Slide 1: 2013 Results 2014-2018 Plan
2013 Results 2014-2018 Plan March 12, 2014
Slide 2: Agenda
Agenda • Opening remarks Fulvio Conti CEO & General Manager • 2013 results Luigi Ferraris CFO • 2014-2018 Strategic update Fulvio Conti • Overall financial targets “ Enel Group Investor Relations 1
Slide 3: Opening remarks: Group evolution
Opening remarks Group evolution1 2005 2013 Presence Presence 11 countries 40 countries Net installed capacity Net installed capacity 46 GW 99 GW Customers Customers ~34 million ~61 million Employees Employees 51,778 71,394 EBITDA EBITDA ~8 €bn2 ~16 €bn2 Capex Plan 2006-2010 Capex Plan 2014-2018 ~18
Slide 4: Coping with the world crisis
Opening remarks Coping with the world crisis In the face of a challenging ...Enel has successfully macro scenario in mature markets... repositioned itself M A • Global economic crisis • Internationalization process implemented C R • GDP decline • Integration process well on track O • Solid platforms
Slide 5: Ongoing deleveraging
Opening remarks Ongoing deleveraging (€bn) Enel rights issue and acquisition of Acciona’s stake in Endesa Endesa acquisition and ~55.8 asset disposal to EON ~ 50.9 ~8 ~3 ~39.9 ~12.3 2005 2007 2009 Disposals net of Net free 2013 Net debt1 Net debt1 Net debt1 acquisitions cash flow Net Debt1 Net Debt/
Slide 6: Cost savings and capex optimization
Opening remarks Cost savings and capex optimization Opex: Italy and Iberia1 Group Capex Distribution (€/per end user) Capex/EBITDA 0.41x -8% 56.3 0.37x 51.9 17.5 €bn 16.1 €bn 20102 2013 Generation: fixed cost3 (k€/MW) 7.1 €bn -17% 6.0 €bn ~49 Mature mkts.4 Mature mkts.4 64% 58% ~41 Mature mkts.4 54%
Slide 7: Asset portfolio breakdown in 2013
Opening remarks Asset portfolio breakdown in 20131 EBITDA by geography EBITDA by business Regulated and quasi- regulated activities5 Growth markets2 42% 61% 16.1 €bn3 16.1 €bn3 58% Mature 39% Unregulated markets4 activities Production mix Number of customers Nuclear 14% 26% Hydro Residential 87% Oth
Slide 8: Key priorities
Key priorities Ongoing positive free cash flow Deleveraging, portfolio optimization and Group reorganization Growing in emerging markets and new technologies, leveraging existing platforms and customer value Enel Group Investor Relations 7
Slide 9: 2013 results
2013 results Luigi Ferraris Enel Group Investor Relations 8
Slide 10: Financial highlights: consolidated results
2013 results Financial highlights Consolidated results (€mn) FY12 % FY12 restated1 FY13 vs restated Revenues 84,889 84,949 80,535 -5.2 EBITDA 16,738 15,809 17,011 +7.6 - recurring2 16,738 15,809 16,089 +1.8 EBIT 7,735 6,806 9,944 +46.1 Group net income 865 238 3,235 >100 Group net ordinary income2 3
Slide 11: From EBIT to Net Income
2013 results Financial highlights From EBIT to Net Income (€mn) FY12 % FY12 restated1 FY13 vs. restated EBIT 7,735 6,806 9,944 +46.1 Net financial charges (3,003) (3,012) (2,813) -6.6 Interest charges (2,832) (2,832) (2,770) -2.2 Other (171) (180) (43) -76.1 Net income from equity investments using
Slide 12: Focus on forward electricity sales
2013 results Focus on forward electricity sales Level of total production hedged (%) Italy Spain2 100 100 100 100 ~ 10 ~ 60 ~ 90 ~ 90(1) Unhedged Hedged ~ 40(1) ~ 10 2014 2015 2014 2015 Latam Slovakia 100 100 100 100 ~ 25 ~ 30 ~ 75 ~ 75 ~ 70 ~ 25 2014 2015 2014 2015 Enel Group Investor Relations 1.
Slide 13: Group EBITDA evolution
2013 results Group EBITDA evolution (€mn) +7.6% -95 +177 -130 -245 -466 +107 +925 17,011 +929 15,809 1,022 1,788 1,641 Latam operations: Latam operations: 3,493 €mn 3,227 €mn 6,746 7,230 Iberian operations: Iberian operations: 1 S&H 3,253 €mn 4,003 €mn EGP Iberia & Latam 1,405 1,650 International I&
Slide 14: EBITDA evolution: G&EM Italy
2013 results EBITDA evolution: G&EM Italy (€mn) +7.8% +180 -21 -179 +105 1,176 1,091 FY12 2012 Generation Gas Other FY13 restated restatement1 margin margin Enel Group Investor Relations 1. Due to the retrospective application of IAS 19 revised 13
Slide 15: EBITDA evolution: Market Italy
2013 results EBITDA evolution: Market Italy (€mn) +42.2% +98 866 +79 +80 609 FY12 2012 Free Regulated FY13 restated restatement1 market market Enel Group Investor Relations 1. Due to the retrospective application of IAS 19 revised (of which +11 €mn free market, +69 €mn regulated market) 14
Slide 16: EBITDA evolution: Infrastructure & Networks Italy
2013 results EBITDA evolution: Infrastructure & Networks Italy (€mn) +10.6% +294 -260 +515 -164 4,008 3,623 FY12 2012 Energy Connection Other FY13 restated restatement1 margin fees Enel Group Investor Relations 1. Due to the retrospective application of IAS 19 revised 15
Slide 17: EBITDA evolution: International
2013 results EBITDA evolution: International (€mn) -14.8% -10.0% 1,650 -134 +58 -81 -8 1,485 -80 519 OGK5 386 511 1,405 RES1 133 OGK5: 399 58 RES1: 112 231 Russia France, Belgium, EIH2 289 Romania 842 Slovakia 708 -23 FY12 Slovakia Romania France, Russia FY13 Other FY13 restated Belgium, adjusted it
Slide 18: EBITDA evolution: Endesa - Iberia
2013 results EBITDA evolution1: Endesa - Iberia2 (€mn) -18.7% 4,003 -147 -645 +42 3,253 FY12 Liberalized Regulated Other FY13 restated business business Enel Group 1. Enel’s GAAP figures Investor Relations 2. Including Ireland (out of perimeter since October 2012) and Morocco 17
Slide 19: EBITDA evolution: Endesa - Latam
2013 results EBITDA evolution1: Endesa - Latam (€mn) +8.2% +467 -201 -350 +350 3,493 3,227 FY12 Generation Distribution Other Forex effect FY13 restated Enel Group Investor Relations 1. Enel’s GAAP figures 18
Slide 20: EBITDA evolution: Enel Green Power
2013 results EBITDA evolution: Enel Green Power (€mn) +9.0% +49 1,788 1,641 +40 +58 - 246 197 497 497 North America Iberia and Latin America Italy and Europe 1,045 947 FY12 2012 Italy and Iberia and North FY13 restated restatement1 Europe Latin America America Enel Group Investor Relations 1. Due to
Slide 21: Net debt evolution
2013 results Net debt evolution (€mn) -3,086(1) December 31, Cash flow Capex Net financial Taxes Dividends2 Extra- December 31, 2013 2012 from operations charges ordinary 2013 target 4 activities +10(3) -10(3) -42,948 -39,862 ~42 €bn -5,960 -2,605 -2,606 +13,319 -2,044 +2,982 Net debt well below the
Slide 22: Total liquidity available and debt maturity profile
2013 results Enel’s debt maturity profile (€bn) Total liquidity available and debt maturity profile Total liquidity available (€bn) Debt maturity profile (€bn) ~26.8 ~21.4 Long term committed ~13.4 credit lines1 ~7.6 ~7.2 ~6.2 ~5.2 ~5.3 Cash and Short term ~2.5 cash equivalents ~8.0 Long term ~4.7 F
Slide 23: 2014-2018 Strategic update
2014-2018 Strategic update Fulvio Conti Enel Group Investor Relations 22
Slide 24: Overview of macro scenario evolution
Overview of macro scenario evolution Macro trends Implications for the energy industry Economy Increasing role of emerging markets Emerging markets to drive worldwide and re-shaping presence in mature growth markets Technology Innovation as a driver to change the Active role of distribution operator
Slide 25: New value drivers map
Growing in emerging markets and new technologies, leveraging existing platforms and customer value New value drivers map Mature Emerging Enel markets markets1 current positioning Conventional Stable Moderate growth 90 GW net installed capacity generation2 One of the largest world players in the rene
Slide 26: Conventional generation: worldwide overview
Growing in emerging markets and new technologies, leveraging existing platforms and customer value Conventional generation1 Worldwide overview: Enel Group2 Capacity and production by geography Capacity (GW) Production (TWh) 90.0 256.7 • A well balanced geographical mix: Latam 16.0 61.9 Latam 49% o
Slide 27: Conventional generation: key strategic guidelines
Growing in emerging markets and new technologies, leveraging existing platforms and customer value Conventional generation Key strategic guidelines Actions Targets Group Installed Capacity (GW) Restructuring in Italy and Iberia 90.0 -8% • Ongoing mothballing and/or phase-out: ca. 8 83.1(1) GW in 201
Slide 28: Group renewable operations: worldwide overview
Growing in emerging markets and new technologies, leveraging existing platforms and customer value Group renewable operations Worldwide overview New markets already Business development Current EGP1 presence addressed explored countries Advanced projects 4 macro-areas with business 8.9 GW in 16 coun
Slide 29: Renewables: key strategic guidelines
Growing in emerging markets and new technologies, leveraging existing platforms and customer value Renewables Key strategic guidelines Actions Targets Growth capex as % of total capex Leverage Enel Green Power’s unique Rest of the multitechnology approach in the 6.0 €bn world Maintenance 10% 26% glo
Slide 30: Group distribution operations: worldwide overview
Growing in emerging markets and new technologies, leveraging existing platforms and customer value Group distribution operations Worldwide overview: Enel Group1 Brazil 6.3mn end users Italy Colombia Total end users 60.5 mn First operator 31.7mn end users Second operator Europe 2.7mn end users 46.2
Slide 31: Distribution: key strategic guidelines
Growing in emerging markets and new technologies, leveraging existing platforms and customer value Distribution Key strategic guidelines Actions Targets Number of end users (mn) 64.4 Ensure stable cash flows leveraging 60.5 RAB and WACC 48.0 Europe 46.2 +13 TWh 16.4 Latam 14.3 (+21%) 2013 2018 Fully
Slide 32: Retail: worldwide overview
Growing in emerging markets and new technologies, leveraging existing platforms and customer value Retail Worldwide overview: Enel Group1 Number of customers (mn) Wide customer base across countries of operation 60.8 60.8 Free 13.1 14.3 Latam Liberalization of the market will enhance our customer va
Slide 33: Retail: key strategic guidelines
Growing in emerging markets and new technologies, leveraging existing platforms and customer value Retail Key strategic guidelines Actions Targets Free retail customers (mn) +88% Increase the overall customer base 24.6 22.0 and accelerate build up of free 13.7 13.1 customers’ portfolios 2013 2014 20
Slide 34: Key priorities
Key priorities Ongoing positive free cash flow • Cost savings programme • Capex plan • Leverage positive free cash flow Deleveraging, portfolio optimization and Group reorganization Growing in emerging markets and new technologies, leveraging existing platforms and customer value Enel Group Investor
Slide 35: Cost savings programme
Ongoing positive free cash flow Cost savings programme1 (€mn) ~5,770 28% Growth markets2 Mature markets3 ~1,520 35% personnel costs 65% external costs 28% ~1,220 ~570 72% 30% 16% 474 ~210 72% 12% 10% 70% 84% 88% 90% FY 2013 2013 target 2014 2016 2018 2014-2018 actual (Old Plan target target target c
Slide 36: Capex plan
Ongoing positive free cash flow Capex plan1 (€bn) ~ 25.7 Supply & -13% ~ 9.1 other 5% Mature 6.1 mkts.3 Gen. 5.3 43% ~ 5.1 ~ 5.1 ~ 5.3 29% 2.6 ~ 1.7 Ren. 2.2 ~ 2.1 ~ 1.8 ~ 16.6 23% Growth 3.5 ~ 3.6 mkts.2 ~ 3.3 Distr. 3.1 ~ 3.0 57% 43% 2012 2013 2014 2016 2018 2014-2018 actual actual Plan Plan Plan
Slide 37: Leverage positive free cash flow: Group overview
Ongoing positive free cash flow Leverage positive free cash flow Group overview (€bn) ~49.9 ~28.6 Connection fees 2.9 €bn Net capex 25.7 €bn ~21.3 ~11.6 ~9.7 Cumulative ’14-’18 Gross capex Cash flow Dividends2 Net free operating cash flow1 programme cash flow Net free cash flow positive throughout t
Slide 38: Focus on Italy and Iberia
Ongoing positive free cash flow Leverage positive free cash flow Focus on Italy and Iberia (€bn) Italy1 Iberia1 2014-2018 cumulative 2014-2018 cumulative 14.8 €bn 7.2 €bn 12.3 €bn 5.2 €bn Connection fees 0.5 €bn Connection fees 1.2 €bn Net capex Net capex 6.7 €bn 7.6 €bn 4.0 €bn 7.1 €bn Operating Gr
Slide 39: Focus on growth markets
Ongoing positive free cash flow Leverage positive free cash flow Focus on growth markets (€bn) Latam1 Enel Green Power 2014-2018 cumulative 2014-2018 cumulative 14.9 €bn 8.0 €bn Connection fees 1.0 €bn 8.4 €bn 6.0 €bn Net capex 7.0 €bn 6.9 €bn 2.4 €bn Operating Gross Cash flow Operating Gross Cash f
Slide 40: Key priorities
Key priorities Ongoing positive free cash flow Deleveraging, portfolio optimization and Group reorganization Growing in emerging markets and new technologies, leveraging existing platforms and customer value Enel Group Investor Relations 39
Slide 41: Disposal programme and minority buyouts
Deleveraging, portfolio optimization and Group reorganization Disposal programme and minority buyouts Disposal programme Minority buyouts ~ 6 €bn ~ 1.6 €bn 76% 72% ~ 4.4 €bn 65% 2013-2014 Disposals already To be achieved 2014 2016 2018 disposal cashed-in by year end Group net income / Total net inco
Slide 42: Overall financial targets
Overall financial targets Fulvio Conti Enel Group Investor Relations 41
Slide 43: 2014-2018 cumulative cash flow
2014-2018 cumulative cash flow (€bn) ~49.9 ~28.6 Conn. fees 2.9 €bn Net capex 25.7 €bn ~21.3 ~11.6 ~4.4 ~4.4 ~9.7 ~9.7 Cumulative Gross capex Cash flow Dividends2 Net free Disposals Net debt Minority 2014-2018 programme cash flow reduction buyouts and operating cash acquisitions3 flow1 Focus on dele
Slide 44: Overall financial targets
Overall financial targets (€bn) 2014 2016 2018 (2) (2) (2) • EBITDA • ~ 15.5 • ~ 16.5 • ~ 18 1 • Ordinary net income1 •~3 • ~ 3.7 • ~ 4.5 • Net debt 3 • ~ 37 • ~ 39 • ~ 36 Dividend policy(4) On 2014 results: at least 40% payout From 2015 results: at least 50% payout Enel Group 1. Net of disposals an
Slide 45: Strategic annexes
Strategic annexes Enel Group Investor Relations 44
Slide 46: Italian operations: targets
Focus on divisions Italian operations: targets1 Capex2 (€bn) EBITDA (€bn) ~5.9 ~5.6 ~1.3 ~1.3 ~1.0 ~0.1 ~0.1 ~1.1 ~0.3 ~0.3 ~1.0 ~0.9 ~0.9 ~0.9 ~3.9 ~3.6 2014 2016 2014 2016 Infrastructure&Networks G&EM Market Enel Group 1. Gross of disposals. Post IFRS 11 (impact on EBITDA: ca. -0.05 €bn in 2014 an
Slide 47: Endesa Iberia: targets
Focus on divisions Endesa Iberia: targets1 Capex2 (€bn) EBITDA (€bn) ~3.4 ~2.8 ~0.8 ~0.6 2014 2016 2014 2016 1. Gross of disposals. Post IFRS 11 (impact on EBITDA: -0.03 €bn in 2014, -0.06 €bn in 2016) Enel Group 2. Net of connection fees Investor Relations 46
Slide 48: Endesa Latam: targets
Focus on divisions Endesa Latam: targets1 Capex2 (€bn) EBITDA (€bn) ~4.2 ~3.6 ~1.5 ~1.4 2014 2016 2014 2016 Enel Group 1. Post IFRS11. Gross of disposals (impact on EBITDA: -0.02 €bn in 2014, -0.01 €bn in 2016) Investor Relations 2. Net of connection fees 47
Slide 49: International operations: targets
Focus on divisions International operations: targets1 Capex2 (€bn) EBITDA (€bn) ~1.2 ~0.1 ~1.3 ~1.2 ~X.X ~0.2 ~0.3 ~0.3 ~0.4 ~0.4 ~0.4 ~0.9 ~0.1 ~0.2 ~0.5 ~0.6 ~0.1 2014 2016 2014 2016 Slovakia Russia Other Enel Group 1. Gross of disposals. Post IFRS 11 (impact on EBITDA: ca. -0.05 €bn in 2014 and 2
Slide 50: Enel Green Power: targets
Focus on divisions Enel Green Power: targets1 Capex2 (€bn) EBITDA (€bn) ~2.3 ~1.9 ~1.4 ~1.1 2014 2016 2014 2016 Enel Group 1. Post IFRS 11 (impact on EBITDA: ca. -0.02 €bn in 2014 and 2016) Investor Relations 2. Net of connection fees 49
Slide 51: Electricity demand, commodities and CO2 scenario
Electricity demand, commodities and CO2 scenario Electricity demand Brent ($/bbl) 2014-2018 CAGR Mature markets 100 100 107 Italy +1.3% 2014 2016 2018 Coal ($/ton) Spain1 +2.3% 110 117 Growth markets 95 2014 2016 2018 Russia2 +1.3% CO2 (€/ton) Slovakia +1.5% 20 Latam3 12 +5.0% 5 2014 2016 2018 1. Pe
Slide 52: Latam: regulatory framework for distribution assets
Latam: regulatory framework for distribution assets Chile Colombia Peru Brazil Indefinite • Authorization Indefinite Concession for 30 Long-term concessions concession • Lack of exclusivity concession years Stable regulatory 1st set: 1984 1st set: 1997 1st set: 1997 1st set: 2003 frameworks # of rev
Slide 53: Retail: focus on new downstream
Retail: focus on new downstream Italy Iberia Mass market customers • Last 12 years CAGR margin: 18% • New business model as full service provider • Higher customer satisfaction • Enlargement of product/service offering • Customer loyalty improvement • Pilot phase in late 2013 with nation roll-out •
Slide 54: CO2 specific emissions towards Carbon Neutrality
CO2 specific emissions towards the “Carbon Neutrality” (*) Preliminary data Enel Group Investor Relations 53
Slide 55: Financial and operational annexes
Financial and operational annexes Enel Group Investor Relations 54
Slide 56: Production mix (TWh)
Production mix (TWh) -2.0% 74.4 72.9 1.8% 0.7% 14.9% 9.9% Group production mix 46.1% Italy -3.0% 48.4% 9.2% 8.6% 294.8 286.1 34.1% 26.3% 11.9% 10.2% FY12 FY13 14.6% 14.2% 28.8% -3.3% 31.1% 14.2% 14.0% 220.4 213.2 6.6% 5.3% 13.5% 15.4% 23.1% 26.0% 14.4% 15.7% FY12 FY13 Other Countries 25.3% 22.9% 18.
Slide 57: FY2013 Group total net installed capacity
FY2013 Group total net installed capacity1: breakdown by source and location MW Hydro Other Nuclear Coal CCGT Oil & gas TOTAL ren. ST/OCGT Italy 13,689 1,605 - 6,680 5,925 12,024 39,923 Iberia 4,721 1,865 3,556 5,530 5,568(2) 2,951 24,191 Centrel 2,329 27 1,814 829 - 400 5,399 SEE 19 1,033(3) - - 40
Slide 58: FY2013 Group total net production
FY2013 Group total net production1: breakdown by source and location GWh Hydro Other Nuclear Coal CCGT Oil & gas TOTAL ren. ST/OCGT Italy 24,845 6,697 - 33,650 7,200 505 72,897 Iberia 9,657 4,778 25,967 22,623 5,940(2) 6,501 75,466 Centrel 4,759 59 14,624 1,901 - - 21,343 SEE 47 2,047(3) - - 1,373(4
Slide 59: FY2013 Enel Green Power net installed capacity
FY2013 Enel Green Power net installed capacity: breakdown by source and location MW Hydro Geothermal Wind Other TOTAL Italy & Europe 1,531 723 1,647 227 4,128 Iberia & Latam 775 - 2,210 87 3,072 North America 317 72 1,265 29 1,683 TOTAL 2,623 795 5,122 343 8,883 Enel Group Investor Relations 58
Slide 60: FY2013 Enel Green Power net production
FY2013 Enel Green Power net production: breakdown by source and location GWh Hydro Geothermal Wind Other TOTAL Italy & Europe 6,607 5,300 3,212 223 15,342 Iberia & Latam 3,254 - 5,116 381 8,751 North America 1,060 281 3,841 178 5,360 TOTAL 10,921 5,581 12,169 782 29,453 Enel Group Investor Relations
Slide 61: Enel's long-term debt maturity profile
Enel’s long-term debt maturity profile (€mn) Endesa Enel Group (excluding Endesa) 26,808 2,884 Bonds 2,649 Bank loans and others 2,041 23,924 7,565 6,175 474 4,690 5,236 5,329 988 679 1,138 1,125 7,091 4,557 5,187 4,191 3,565 <12m 2015 2016 2017 2018 After 2018 6 years and 11 months Average cost of
Slide 62: Enel Group liquidity analysis
Enel Group liquidity analysis (€mn) Amount Outstanding Available (1) Committed credit lines 16,821 1,415 15,406 Cash and cash equivalents - (8,031) 8,031 Total 16,821 (6,616) 23,437 Uncommitted lines 896 101 795 Commercial paper 9,290 2,202 7,088 Total liquidity 27,007 (4,313) 31,320 Enel Group 1. O
Slide 63: Debt structure
Debt structure1 • Average debt maturity: 6 years and 11 months • Average cost of gross debt2: 4.9% • (Fixed+hedged)/Total gross long-term debt: 80% • Rating: Standard&Poor’s = BBB/A-2 Stable Outlook Moody’s = Baa2/P-2 Negative Outlook Fitch = BBB+/F2 Rating Watch Negative December 31, December 31, €
Slide 64: Enel's group financial debt evolution
Enel’s group financial debt evolution1 Enel Group (excluding Endesa) Endesa Group - Total €mn 12.31.2012 12.31.2013 12.31.2012 12.31.2013 12.31.2013 Bank loans – maturities > 12m 10,864 6,395 2,418 1,892 8,287 Bonds – maturities > 12m 37,350 37,923 4,159 3,560 41,483 Preference shares > 12m - - - -
Slide 65: Enel's group financial debt by subsidiary
Enel’s group financial debt by subsidiary1 €mn Enel SpA Endesa EFI2 EIH2 Slovenské EP2 ED2 Other Total Bonds 18,826 4,147 20,782 298 - - - 79 44,132 Bank loans - 2,262 - - 1,149 510 3,293 2,861 10,075 Other loans (5) (4,414) - - (812) (285) (962) 146 (6,332) Commercial paper - 814 1,388 - - - - - 2,
Slide 66: Enel's group financial debt
Enel’s group financial debt Average cost of net debt Average cost of gross debt Average residual maturity (years:months) 6.1% 6.2% 6:11 6:11 5.9% 4.9% 4.8% 4.9% 6:7 2011 2012 2013 2011 2012 2013 2011 2012 2013 Net financial debt (€bn) Fixed + Hedged Fixed + Hedged /Total net debt /Total gross long t
Slide 67: Enel's long-term debt maturity profile
Enel’s long-term debt maturity profile (€mn) Enel Group (excluding Endesa) €mn <12m 2015 2016 2017 2018 After 2018 Bank loans 1,418 761 588 490 920 3,637 Bonds 2,062 3,727 4,531 3,625 6,093 19,948 Other 85 69 68 76 78 339 Total 3,565 4,557 5,187 4,191 7,091 23,924 Endesa €mn <12m 2015 2016 2017 2018
Slide 68: Enel Group liquidity analysis excluding Endesa
Enel Group liquidity analysis excluding Endesa (€mn)1 Amount Outstanding Available Revolving Credit Facility (2015)2 10,000 - 10,000 (3) Other committed credit lines 3,020 1,372 1,648 Total committed credit lines 13,020 1,372 11,648 Other short-term bank debt - uncommitted lines 225 101 124 Total cr
Slide 69: Endesa liquidity analysis
Endesa liquidity analysis (€mn)1 Amount Outstanding Available Total committed credit lines 3,801 43 3,758 Other short-term bank debt – uncommitted lines 671 - 671 Total credit lines 4,472 43 4,429 Commercial paper issued by the Endesa Group 3,290 814 2,476 Total credit lines + CP 7,762 857 6,905 Cas
Slide 70: Capex by business area
Capex by business area (€mn)1 -15.8% 7,075 163 1,257 5,959 84 -48.5% Other2 2,497 1,307 +4.0% Enel Green Power Iberia & Latam International 2,181 -12.7% 1,161 Infrastructure & Networks 924 -20.4% Market Generation & 1,497 1,046 -30.1% Energy Management 97 99 +2.1% 403 318 -21.1% FY12 FY13 Enel Group
Slide 71: Balance sheet
Balance sheet FY12 €mn restated FY13 % Net financial debt 42,948 39,862 -7.2 Shareholders’ equity 52,087 52,839 +1.4 Net capital employed 95,035 92,701 -2.5 Enel Group Investor Relations 71
Slide 72: Generation & Energy Management - Italy
Generation & Energy Management - Italy FY12 €mn FY13 % restated Revenues 25,244 22,919 -9.2 EBITDA 1,091 1,176 +7.8 EBIT 505 554 +9.7 Capex 403 318 -21.1 Headcount 6,043 5,699 -5.7 Enel Group Investor Relations 72
Slide 73: Market - Italy
Market - Italy FY12 €mn FY13 % restated Revenues 18,351 16,921 -7.8 EBITDA 609 866 +42.2 EBIT 103 362 >100 Capex 99 97 +2.1 Headcount 3,674 3,687 +0.4 Enel Group Investor Relations 73
Slide 74: Infrastructure & Network - Italy
Infrastructure & Network - Italy FY12 €mn FY13 % restated Revenues 8,117 7,530 -5.2 EBITDA 3,623 4,008 +10.6 EBIT 2,629 3,028 +15.2 Capex 1,497 1,046 -30.1 Headcount 18,632 17,689 -5.1 Enel Group Investor Relations 74
Slide 75: International
International FY12 €mn FY13 % restated Revenues 8,703 7,737 -10.2 EBITDA 1,650 1,405 -14.9 EBIT 978 85 -43.0 Capex 1,161 924 -20.4 Headcount 12,652 11,830 -6.5 Enel Group Investor Relations 75
Slide 76: Iberia & Latam
Iberia & Latam FY12 €mn FY13 % restated Revenues 34,169 30,935 -9.5 EBITDA 7,230 6,746 -6.7 EBIT 1,675 3,836 >100 Capex 2,497 2,181 -12.7 Headcount 22,807 22,994 +0.8 Enel Group Investor Relations 76
Slide 77: Enel Green Power
Enel Green Power FY12 €mn FY13 % restated Revenues 2,696 2,827 +4.9 EBITDA 1,641 1,788 +9.0 EBIT 1,081 1,171 +8.3 Capex 1,257 1,307 +4.0 Headcount 3,512 3,599 +2.5 Enel Group Investor Relations 77
Slide 78: Other
Other1 FY12 €mn FY13 % restated Revenues2 2,017 2,885 +43.0 Holding 335 276 -17.6 Services 1,503 1,447 -3.7 Engineering & Research 308 309 +0.3 Upstream 2 967 >100 EBITDA3 (35) 1,022 n.m. Holding (90) (65) +27.8 Services 100 137 +37.0 Engineering & Research (25) 14 n.m. Upstream (20) 936 n.m. 1. Inc
Slide 79: Other - Continued
Other1 - Continued FY12 €mn FY13 % restated EBIT2 (165) 908 n.m. Holding (103) (74) +28.2 Services & other (11) 37 n.m. Engineering & Research (30) 9 n.m. Upstream (21) 936 n.m. Capex 163 84 -48.5 Holding 8 13 +62.5 Services & other 64 60 -6.3 Engineering & Research 4 3 -25.0 Upstream 87 8 -90.8 Hea
Slide 80: EBIT by business area
EBIT by business area (€mn) +46.1% 9,944 908 n.m. 1,171 +8.3% 6,806 Other1 1,081 EGP 3,836 >100 Iberia & Latam 1,675 International 978 85 -43.0% I&N Market G&EM 2,629 3,028 +15.2% 103 362 >100 505 554 +9.7% -165 FY12 FY13 Enel Group Investor Relations 1. Including Services & Holding, Engineering & R
Slide 81: Disclaimer
Disclaimer This presentation contains certain forward-looking statements that reflect the Company’s management’s current views with respect to future events and financial and operational performance of the Company and its subsidiaries. These forward-looking statements are based on Enel S.p.A.’s curr
Slide 82: Contact us
Contact us Investor Relations Team (investor.relations@enel.com) • Luca Torchia +39 06 8305 3437 Head of IR • Elisabetta Ghezzi +39 06 8305 2708 IR Coordination and Outbound communication • Marco Donati +39 06 8305 9252 Inbound communication • Matteo Cavadini +39 06 8305 2326 Staff • Federica Dori +