Slide 1: 2009 Results, 2010-2014 Plan
Enel SpA Investor Relations 2009 Results 2010-2014 Plan “Resilience, growth and cash generation” London - March 18, 2010
Slide 2: Agenda
Enel SpA Investor Relations Agenda • Group strategy F. Conti › Opening remarks › Key priorities • 2009 Results L. Ferraris • 2010-2014 Plan F. Conti › Italian operations › International operations › Enel Green Power • Focus on Endesa A. Brentan • Financial targets F. Conti 1
Slide 3: Group strategy: Key success factors
Enel SpA 2010 – 2014 Plan Investor Relations Group strategy Key success factors Market Marketleading leadingpositions positions Strong Strongoperational operationalperformance performance Secure Securefinancial financialposition position Endesa Endesasuccessfully successfullyintegrated integrated Mu
Slide 4: Group strategy: Key priorities
Enel SpA 2010 – 2014 Plan Investor Relations Group strategy Key priorities Leadership Leadershipin instrategic strategicmarkets markets Consolidation Consolidation&&integration integration Operational Operationalexcellence excellence Renewables Renewables&&innovation innovation Financial Financialst
Slide 5: Leadership in strategic markets
Enel SpA 2010 – 2014 Plan Investor Relations Group strategy RUSSIA Leadership in strategic markets • Capturing growth and value of our integrated position NORTH AMERICA • Focus on renewables FRANCE • Focus on renewables and nuclear SLOVAKIA - ROMANIA LATIN AMERICA • Leading position • Strengthening
Slide 6: Consolidation & integration: Capex programme
Enel SpA 2010 – 2014 Plan Investor Relations Group strategy Consolidation & integration Cash flow optimization: Capex programme (€mn) -2.9 €bn 32,625 29,704 7,025 Maintenance 15,685 13,941 6,685 5,803 5,391 3,205 4,800 3,063 2,730 2,517 2,426 Growth 16,940 15,763 3,820 3,622 3,073 2,874 2,374 2009-1
Slide 7: Endesa synergy programme and targets
Enel SpA 2010 – 2014 Plan Investor Relations Group strategy Consolidation & integration Endesa’s synergy programme and targets >1,000 813 >700 717 548 +13% 613 500 494 +69% 428 436 313 >300 266 265 157 225 217 185 181 41 2008 2008 2009 2009 (1) 2010 2011 2012 2012 target achieved target achieved tar
Slide 8: Operational excellence: Cash flow optimization
Enel SpA 2010 – 2014 Plan Investor Relations Group strategy Operational excellence Cash flow optimization (excluding Endesa): Zenith Total pre-tax cash flow optimisation (vs. 2008) U Working capital optimisation 2009-2011 ~2,700 International best practice sharing 19% 27% Credit management Working 1
Slide 9: Renewables and innovation: Focus on Enel Green Power
Enel SpA 2010 – 2014 Plan Investor Relations Group strategy Renewables and innovation Focus on Enel Green Power 2009 old perimeter 2009 new perimeter Including Endesa’s 30.6 renewable activities 18.9 21.7 1.2 20.7 1.3 4.8 5.7 Capacity Production Pipeline EBITDA Capacity Production Pipeline EBITDA (G
Slide 10: Focus on innovation
Enel SpA 2010 – 2014 Plan Investor Relations Group strategy Renewables and innovation Focus on innovation • Archimede • Oxycombustion • CCS development project • Higher efficiency in • R&I Enel-Sharp JV coal generation • CSP – direct • Smart grids steam generation • Nuclear • Electric mobility devel
Slide 11: Financial stability: Disposal plan impact on net debt
Enel SpA 2010 – 2014 Plan Investor Relations Group strategy Financial stability Disposal plan: impact on net debt (€bn) 10.0 0.2 0.5 1.3 3.2 1.2 HV Grid Gas dis. Upstream Portfolio Already HV Grid EGP Other non Total Italy Italy Gas Russia Optimization delivered Spain minority stake strategic commit
Slide 12: Disposal plan: focus on Enel Green Power
Enel SpA 2010 – 2014 Plan Investor Relations Group strategy Financial stability Disposal plan: focus on Enel Green Power DUAL TRACK APPROACH IPO Direct sale • Continuing conversations with • Preparing the filing process. third parties. AND / OR • Target to list: during 2010. • Target buyer profile:
Slide 13: Cash flow 2010-14: impact on net debt
Enel SpA 2010 – 2014 Plan Investor Relations Group strategy Financial stability Cash flow 2010-14: impact on net debt (€bn) ~72 Disposal ~7 plan ~30 Operating ~13 cash flow ~65 ~39 ~17 6 ~12 Cash flow from Capex Net financial Dividends2 Available cash to 2014 operations1 programme charges net debt N
Slide 14: Luigi Ferraris, Chief Financial Officer
Enel SpA 2009 Results Investor Relations Luigi Ferraris Chief Financial Officer 13
Slide 15: Financial highlights: consolidated
Enel SpA 2009 Results Investor Relations Financial highlights: consolidated €mn FY08 FY09 % Revenues 61,184 64,035 +4.7 EBITDA 14,318 16,044 +12.1 - recurring 14,099 15,581 +10.5 1 EBIT 9,541 10,755 +12.7 Group net income 5,293 5,395 +1.9 Net debt 49,967 50,870 +1.8 (2) (2) 1. Excluding capital gain
Slide 16: From EBIT to Net Income
Enel SpA 2009 Results Investor Relations From EBIT to Net Income €mn FY08 FY09 % EBIT 9,541 10,755 +12.7 Net financial charges 3,210 1,741 -45.8 3,016 2,654 -12.0 Interest charges Fair value of Acciona’s put option (34) (970) n.a. Other 228 57 -75.0 Net income from equity investments (54) (48) +12.5
Slide 17: Focus on forward electricity sales
Enel SpA 2009 Results Investor Relations Focus on forward electricity sales Level of total production hedged (%) Italy Spain 100 100 100 100 ~60 ~60 ~20 Rolled-over ~40 ~20 2010 2011 2010 2011 Latam Slovakia 100 100 100 100 ~30 ~35 ~45 ~70 ~65 ~55 2010 2011 2010 2011 Unhedged Hedged 16
Slide 18: Group EBITDA evolution
Enel SpA 2009 Results Investor Relations Group EBITDA evolution (€mn) +12.1% +1,281 -10 +58 16,044 111 14,318 -89 -161 +267 +380 1,178 53 1,188 5,928 4,647 1,044 S&H2 1,424 EGP1 Iberia & Latam International 3,719 3,986 I&N Market 554 G&EM 393 3,113 3,024 FY08 G&EM Market I&N Inter- Iberia & EGP1 S&H
Slide 19: EBITDA evolution – G&EM Italy
Enel SpA 2009 Results Investor Relations EBITDA evolution – G&EM Italy (€mn) -2.9% +243 +78 -211 3,113 -328 +129 3,024 FY08 Generation Trading Ancillary Trento Other FY09 margin margin services capital gain1 18 1. Recorded in 3Q2008
Slide 20: G&EM – Italy: fuel cost evolution
Enel SpA 2009 Results Investor Relations G&EM – Italy: fuel cost evolution -19% 63.8 51.7 Average fuel cost (€/MWh) FY08 FY09 -16% -14% -15% 393.9 34.3 104.6 330.6 29.4 89.2 FY08 FY09 FY08 FY09 FY08 FY09 Oil (€/ton) Gas (c€/mc) Coal (€/ton) 19
Slide 21: EBITDA evolution: Infrastructure & Networks Italy
Enel SpA 2009 Results Investor Relations EBITDA evolution: Infrastructure & Networks Italy (€mn) +7.2% +286 3,986 3,719 +39 -58 FY08 Energy Connection Other1 FY09 margin fees 1. Including ELAT 295 €mn capital gain. 20
Slide 22: EBITDA evolution: International
Enel SpA 2009 Results Investor Relations EBITDA evolution: International (€mn) +36.4% +176 1,424 +74 +28 252 +102 1,044 84 76 56 262 188 Russia1 France & Belgium 826 SEE 724 Centrel FY08 Centrel SEE France Russia1 FY09 & Belgium 1. Including 68 €mn capital gain on the sale of Severenergia 21
Slide 23: Focus on Russia
Enel SpA 2009 Results Investor Relations Focus on Russia1 Unit price2 (€/MWh) Capacity payment (€/MW per month) 2,562 14.5 2,313 13.5 FY08 FY09 FY08 FY09 Dark spread (€/MWh) Spark spread (€/MWh) 4.0 0.6 3.4 0.5 FY08 FY09 FY08 FY09 1. Average 2009 exchange rate: 44.1 Rub/Eur 22 2. Average price exclu
Slide 24: EBITDA evolution: focus on Endesa
Enel SpA 2009 Results Investor Relations EBITDA evolution: focus on Endesa1 (€mn) +1.9% 6,985 -66 +197 7,116 2,991 3,188 3,994 Latam 3,928 Iberia FY08 Iberia Latam FY09 1. Endesa 100% - Enel’s GAAP figures 23
Slide 25: Focus on Enel Green Power (1/2)
Enel SpA 2009 Results Investor Relations Focus on Enel Green Power - (1/2) EBITDA evolution (€mn)1 +5.8% 1,141 +52 +14 -8 +8 1,207 12 20 56 64 232 246 Spain 833 885 Americas Italy Other FY082 Italy Americas Spain Other FY09 1. EGP stand-alone basis 2. EGP 2008 EBITDA is derived from carve-out financ
Slide 26: Focus on Enel Green Power (2/2)
Enel SpA 2009 Results Investor Relations Focus on Enel Green Power - (2/2) Spain EGP Endesa (60%) (40%) 50% EUFER New EGP structure in the 100% ECyR Iberian peninsula 2009 2009 2009 2009 1% 2% 5% 5% 2% 3% 4% 15% 4% 5% 1% 6% 12% 3% 6% 5% 89% 87% 78% 79% 88% Installed capacity1 Net production2 Install
Slide 27: Net debt evolution
Enel SpA 2009 Results Investor Relations Net debt evolution (€mn) (1) -903 December 31, Cash-flow Extra- Capex2 Net Taxes Dividends3 Extra- December 31, 2008 from peninsular financial ordinary 2009 operations deficit charges activities -49,967 -50,870 +2,242 -7,000 -2,876 Discontinued Discontinued -
Slide 28: Enel's long-term debt maturity profile
Enel SpA 2009 Results Investor Relations Enel’s long-term debt maturity profile (€mn) Endesa Enel Group (excluding Endesa) Actual FY09 FY09 adjusted1 28,426 30,937 3,212 3,212 25,214 27,725 10,777 4,386 9,291 6,709 4,953 4,985 985 4,953 4,386 4,985 5,636 2,909 2,909 985 6,391 3,083 5,724 3,083 3,449
Slide 29: Fulvio Conti, Chief Executive Officer
Enel SpA 2010 – 2014 Plan Investor Relations Fulvio Conti Chief Executive Officer 28
Slide 30: Base assumptions of our plan
Enel SpA 2010 – 2014 Plan Investor Relations Base assumptions of our plan Electricity demand 2009-2014 CAGR Electricity demand 2009-2014 CAGR Italy 1.8% Spain1 1.9% +2.4%(3) Russia 1.7% Slovakia 1.7% Latam2 4.0% Commodities Commodities Brent ($/bbl) Coal4 ($/ton) 86 105 85 103 75 90 2010 2013 2014 2
Slide 31: Italian operations: Strategy and targets
Enel SpA 2010 – 2014 Plan Investor Relations Group strategy Variable costs1 Thermal production Italian operations 42 (€/MWh) mix (%) Strategy and targets 9 1 630 34 34 ~50 65 57 ~20 Enhanced Enhancedcompetitiveness competitivenessthrough through Clean coal CCGT 2009 2014 Oil technological technologi
Slide 32: International operations: Strategy and targets
Enel SpA 2010 – 2014 Plan Investor Relations Group strategy International operations1 Technological mix (GW)2 Strategy and targets 15.0 14.3 5.6 5.0 5.2 4.5 CCGT&Oil Consolidation Consolidationand andintegration integration 2.3 2.3 Coal Hydro 1.8 2.6 Nuclear 2009 2014 Capex (€bn) EBITDA (€bn) 5.4 1.
Slide 33: Focus on Russia: Strategy and targets
Enel SpA 2010 – 2014 Plan Investor Relations Group strategy Focus on Russia Technological mix (GW)1 Strategy and targets 8.8 8.2 5.1 4.6 Consolidation Consolidationand andintegration integration 3.6 3.7 CCGT&Oil Coal 2009 2014 Capex (€mn)2 EBITDA (€mn) 982 541 1,099 Capex Capexand andorganic organic
Slide 34: Focus on Slovakia: Strategy and targets
Enel SpA 2010 – 2014 Plan Investor Relations Group strategy Technological mix Focus on Slovakia (GW)1 Strategy and targets 5.8 5.3 0.9 0.4 0.8 2.3 2.3 Oil&Gas Consolidation Consolidationand andintegration integration 1.8 2.6 Coal Hydro Nuclear 2009 2014 Capex (€bn) EBITDA (€bn) 3.1 0.2 1.2 2.9 Capex
Slide 35: Enel Green Power: Strategy and targets
Enel SpA 2010 – 2014 Plan Investor Relations Group strategy Enel Green Power Strategy and targets Net installed capacity evolution Pipeline (GW) (MW) 9.2 3.5 3.3 5.7 0.2 1,712 0.7 547 2.5 Sustainable Sustainableand andprofitable profitablegrowth growth 547 2.3 2009(1) New capacity 2014 Currently und
Slide 36: Andrea Brentan, Endesa Chief Executive Officer
Enel SpA 2010 – 2014 Plan Investor Relations Group strategy Endesa: Focus on Iberia & Latam Strategy and targets Andrea Brentan Endesa Chief Executive Officer 35
Slide 37: Endesa: Focus on Iberia (1/4)
Enel SpA 2010 – 2014 Plan Investor Relations Group strategy Endesa: Focus on Iberia (1/4) Market, regulation and strategy • Slow growth in energy demand • Increase in renewable capacity Market Marketdrivers drivers • Thermal gap at low levels • Slow growth in prices • Generation: – extension of nucl
Slide 38: Endesa: Focus on Iberia (2/4)
Enel SpA 2010 – 2014 Plan Investor Relations Group strategy Endesa: Focus on Iberia (2/4) Continuous focus on efficiency • OPEX optimization (CAGR 09-14): -5% Distribution Distribution efficiency • CAPEX optimization efficiency improvement improvement • Cash cost target: <90 €/customer by 2014 proje
Slide 39: Endesa: Focus on Iberia (3/4)
Enel SpA 2010 – 2014 Plan Investor Relations Group strategy Endesa: Focus on Iberia (3/4) Integrated strategy in generation and sales Generation and liberalized sales in Maintain market share and margin mainland (TWh) optimization • Leader in supply (42% market share) 78 76 CAGR • Margin optimizatio
Slide 40: Endesa: Focus on Iberia (4/4)
Enel SpA 2010 – 2014 Plan Investor Relations Group strategy Endesa: Focus on Iberia (4/4) Generation outlook Capacity plan Competitive generation cost • Mainland: +850 MW Besós, +840 MW • Strong presence in hydro + nuclear Tejo II (Portugal) generation: 58% vs. 33% rest of the • Non-mainland: +550 M
Slide 41: Endesa: Focus on Latam (1/4)
Enel SpA 2010 – 2014 Plan Investor Relations Group strategy Endesa: Focus on Latam (1/4) Market context, regulation and strategy • Positive economic and financial outlook Market Marketdrivers drivers • Stability of inflation and currencies • 4% demand growth1 • Generation: – correct price signals in
Slide 42: Endesa: Focus on Latam (2/4)
Enel SpA 2010 – 2014 Plan Investor Relations Group strategy Endesa: Focus on Latam (2/4) Margin stability with low risk Generation output already Distribution tariff reviews already committed (%) in place Expected tariff 1,2651 Country review 572 Brazil Apr 11 - Mar 14 ~70 ~65 313 Colombia Oct 13 40
Slide 43: Endesa: Focus on Latam (3/4)
Enel SpA 2010 – 2014 Plan Investor Relations Group strategy Endesa: Focus on Latam (3/4) Leadership in the Pacific region in generation and distribution Colombia Colombia––Market Marketleader leader Chile Chile--Market Marketleader leader • Generation: • Generation: • Generation: – ~13,200 GWh / yea
Slide 44: Endesa: Focus on Latam (4/4)
Enel SpA 2010 – 2014 Plan Investor Relations Group strategy Endesa: Focus on Latam (4/4) Brazil and Argentina Argentina Argentina Brazil Brazil • Generation: • Generation: – ~15,900 GWh / year1 1 – ~15,900 GWh / year • Generation: • Distribution Sales: • Generation: • Distribution Sales: – ~5,300 GW
Slide 45: Endesa: Focus on Iberia & Latam
Enel SpA 2010 – 2014 Plan Investor Relations Group strategy Endesa: Focus on Iberia & Latam Operational financial targets 2010-2014 EBITDA (€bn)2 capex programme (€bn) 1 10.5 7.5 6.8 3.8 3.1 65% 3.7 3.7 35% 2011 2014 2010-14 Maintenance Latam Growth Iberia 1. Includes 0.3 (€bn) of financial investme
Slide 46: Fulvio Conti, Chief Executive Officer
Enel SpA 2010 – 2014 Plan Investor Relations Fulvio Conti Chief Executive Officer 45
Slide 47: Overall financial targets
Enel SpA 2010 – 2014 Plan Investor Relations Group strategy Overall financial targets Operational financial targets (€bn) New targets CAGR 2010 2011 2014 2010-14 (%) • EBITDA • 16 • 16 • 19 +4.4 • Ordinary net income • 4 • 4.1 • 5.4 +7.1 (60% dividend pay-out) • Group net debt • 45 • 44.5 • 39 n.m.
Slide 48: Annexes: 2009 Results and 2010-2014 Plan
Enel SpA Investor Relations Annexes 2009 Results and 2010-2014 Plan
Slide 49: FY2009 Group total net installed capacity
Enel SpA 2009 Results - Operational annexes Investor Relations FY2009 Group total net installed capacity1: breakdown by source and location MW Hydro RES Nuclear Coal CCGT Oil & gas TOTAL - other ST/OCGT Italy 14,431 1,134 - 6,212 5,946 12,697 40,420 Iberia 4,689 1,242 3,522 5,436 2,163(2) 6,258(3) 2
Slide 50: FY2009 Group total net production
Enel SpA 2009 Results - Operational annexes Investor Relations FY2009 Group total net production1: breakdown by source and location GWh Hydro RES Nuclear Coal CCGT Oil & gas TOTAL - other ST/OCGT Italy 28,330 5,504 - 28,517 17,121 4,548 84,020 Iberia 7,080 2,998 18,854 17,157 6,298(2) 10,192(3) 62,5
Slide 51: FY2009 renewables net installed capacity
Enel SpA 2009 Results - Operational annexes Investor Relations FY2009 renewables net installed capacity: breakdown by source and location MW Hydro Geothermal Wind Other TOTAL Italy 1,509 695 429 4 2,637 Iberia 29 - 439 26 494 SEE 10 - 212 - 222 North America 313 47 406 22 788 Latin American 643 - 24
Slide 52: FY2009 renewables net production
Enel SpA 2009 Results - Operational annexes Investor Relations FY2009 renewables net production: breakdown by source and location GWh Hydro Geothermal Wind Other TOTAL Italy 6,231 5,001 499 2 11,733 Iberia 58 - 766 143 967 SEE 17 - 322 - 339 North America 997 155 1,128 149 2,429 Latin American 3,386
Slide 53: Production mix
Enel SpA 2009 Results - Operational annexes Investor Relations Production mix -12.8% 96.3 (TWh) 84.0 (TWh) 9.8% 5.4% 20.4% Group production mix 26.8% Domestic 33.9% +5.8% Domestic 30.6% 6.6% 5.8% 33.7% 253.2 (TWh) 267.8 (TWh) 27.0% 13.5% 15.3% FY08 FY09 17.5% 12.9% +17.1% 26.8% 27.6% 11.9% 13.0% 3.9
Slide 54: EBITDA evolution – Market Italy
Enel SpA 2009 Results - Financial annexes Investor Relations EBITDA evolution – Market Italy (€mn) -29% 554 -78 -83 393 FY08 Free Regulated FY09 market market 53
Slide 55: EBITDA evolution - Services & Holding
Enel SpA 2009 Results - Financial annexes Investor Relations EBITDA evolution - Services & Holding1 (€mn) +58 +59 111 53 -1 FY08 Import Other FY09 1. Including Engineering and Innovation division and intercompany adjustments 54
Slide 56: EBIT by business area
Enel SpA 2009 Results - Financial annexes Investor Relations EBIT by business area (€mn) +12.7% 10,755 9,541 938 -4.4%. 981 3,441 +20.8% 2,848 780 +40.3% 556 EGP Iberia & Latam 3,106 +9.2% 2,844 International I&N Market 115 10 -91.3% G&EM 2,259 2,482 +9.9% S&H1 -62 -2 n.a. FY08 FY09 1. Including Eng
Slide 57: Balance sheet
Enel SpA 2009 Results - Financial annexes Investor Relations Balance sheet €mn 2008 2009 % Net financial debt 49,967 50,870 +1.8 Shareholders’ equity 26,295 44,353 +68.7 Net capital employed 76,262 95,223 +24.9 56
Slide 58: Debt structure
Enel SpA 2009 Results - Financial annexes Investor Relations Debt structure1 • Average debt maturity: 7 years and 1 month • Average cost of debt2: 5.0% • (Fixed+hedged)/Total long-term debt: 81% • (Fixed+hedged)/Total net debt: 80% • Rating: S&P’s = A-/A-2 Stable outlook; Moody’s = A2/P-1 Negative o
Slide 59: Enel's group financial debt evolution
Enel SpA 2009 Results - Financial annexes Investor Relations Enel’s group financial debt evolution1 Enel Group (excluding Endesa) Endesa2 Group - Total €mn 12.31.2008 12.31.2009 12.31.2008 12.31.2009 12.31.2009 Bank loans – maturities > 12m 25,867 14,227 3,525 7,405 21,632 Bonds – maturities > 12m 1
Slide 60: Enel's group financial debt by subsidiary
Enel SpA 2009 Results - Financial annexes Investor Relations Enel’s group financial debt by subsidiary1 €mn Enel SpA Endesa EFI2 EIH2 Slovenské EP2 ED2 Other Total Bonds 13,311 6,473 12,339 522 194 - - 146 32,985 Bank loans 6,449 8,042 3,803 - 106 719 2,379 1,572 23,070 Preference shares - 1,463 - -
Slide 61: Enel's group financial debt
Enel SpA 2009 Results - Financial annexes Investor Relations Enel’s group financial debt Average cost of debt Average residual maturity 5.2% 5.5% 4.7% 5.1% 5.0% 7:7 7:7 7:1 4.4% 4.6% 4.4% 4.3% 6:4 5:10 5:2 4:11 4:9 4:4 2001 2002 2003 2004 2005 2006 2007 2008 2009 2001 2002 2003 2004 2005 2006 2007 2
Slide 62: Enel's long-term debt maturity profile
Enel SpA 2009 Results - Financial annexes Investor Relations Enel’s long-term debt maturity profile (€mn) Enel Group (excluding Endesa) €mn <12m 2011 2012 2013 2014 After 2014 Bank loans 801 346 5,290 359 3,795 4,437 Bonds 292 1,130 1,071 1,517 1,905 20,597 Other 20 28 30 26 24 180 Total 1,113 1,504
Slide 63: Enel Group liquidity analysis excluding Endesa
Enel SpA 2009 Results - Financial annexes Investor Relations Enel Group liquidity analysis excluding Endesa (€mn)1 Amount Outstanding Available 60M credit facility for Endesa acquisition 4,901 4,901 - 2009 credit facility for Endesa acquisition (2014) 3,443 3,443 - 2009 credit facility for Endesa ac
Slide 64: Endesa liquidity analysis
Enel SpA 2009 Results - Financial annexes Investor Relations Endesa liquidity analysis (€mn)1 Amount Outstanding Available Total committed credit lines 9,446 2,200 7,246 Other short-term bank debt – uncommitted lines 1,358 375 983 Total credit lines 10,804 2,575 8,229 Commercial paper issued by the
Slide 65: Generation & Energy Management - Italy
Enel SpA 2009 Results - Financial annexes Investor Relations Generation & Energy Management - Italy €mn 2008 2009 % Revenues 22,143 18,377 -17.0 EBITDA 3,113 3,024 -2.9 EBIT 2,259 2,482 +9.9 Capex 887 783 -11.7 Headcount 6,829 6,703 -1.8 64
Slide 66: Market - Italy
Enel SpA 2009 Results - Financial annexes Investor Relations Market - Italy €mn 2008 2009 % Revenues 22,609 20,330 -10.1 EBITDA 554 393 -29.1 EBIT 115 10 -91.3 Capex 72 80 +11.1 Headcount 4,170 3,962 -5.0 65
Slide 67: Infrastructure & Network - Italy
Enel SpA 2009 Results - Financial annexes Investor Relations Infrastructure & Network - Italy €mn 2008 2009 % Revenues 6,537 7,242 +10.8 EBITDA 3,719 3,986 +7.2 EBIT 2,844 3,106 +9.2 Capex 1,407 1,112 -21.0 Headcount 21,683 19,700 -9.1 66
Slide 68: International
Enel SpA 2009 Results - Financial annexes Investor Relations International €mn 2008 2009 % Revenues 4,708 5,540 +17.7 EBITDA 1,044 1,424 +36.4 EBIT 556 780 +40.3 Capex 681 1,014 +48.9 Headcount 16,865 15,752 -6.6 67
Slide 69: Iberia & Latam
Enel SpA 2009 Results - Financial annexes Investor Relations Iberia & Latam €mn 2008 2009 % Revenues 15,805 21,532 +36.2 EBITDA 4,647 5,928 +27.6 EBIT 2,848 3,441 +20.8 Capex 2,382 2,962 +24.3 Headcount 17,827 26,305 +47.6 68
Slide 70: Enel Green Power
Enel SpA 2009 Results - Financial annexes Investor Relations Enel Green Power €mn 2008 2009 % Revenues 1,852 1,751 -5.5 EBITDA 1,188 1,178 -0.8 EBIT 981 938 -4.4 Capex 951 771 -18.9 Headcount 2,432 2,685 +10.4 69
Slide 71: Services & Holding
Enel SpA 2009 Results - Financial annexes Investor Relations Services & Holding €mn 2008 2009 % Revenues 2,901 2,632 -9.3 Holding 727 637 -12.4 Services 1,096 1,025 -6.6 Engineering & Innovation 1,005 903 -10.1 Other & elisions 73 67 EBITDA 53 111 n.m. Holding (71) (25) +64.8 Services 116 124 +6.9 E
Slide 72: Services & Holding - Continued
Enel SpA 2009 Results - Financial annexes Investor Relations Services & Holding - Continued €mn 2008 2009 % EBIT -62 -2 n.m. Holding (94) (34) +63.8 Services 27 23 -14.8 Engineering & Innovation 11 14 +27.3 Other & elisions (6) (5) n.a. Capex 122 103 -15.6 Holding 13 6 -53.8 Services & other 109 92
Slide 73: Focus on capex by business area
Enel SpA 2009 Results - Financial annexes Investor Relations Focus on capex by business area (€mn)1 +5.0% 6,825 6.502 103 122 771 951 2,962 2,382 681 S&H 1,014 EGP Iberia & Latam 1,407 1,112 International I&N 72 80 Market 887 783 G&EM FY08 FY09 1. Continuing operations only 72
Slide 74: Disclaimer
Enel SpA Investor Relations Disclaimer This presentation contains 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 fut
Slide 75: Contact us
Enel SpA Investor Relations Contact us Investor Relations Team (investor.relations@enel.com) • Luca Torchia (Head of IR) +39 06 83053437 • Pedro Cañamero (Equity IR) +39 06 83055292 • Donatella Izzo (Fixed income IR) +39 06 83057449 Visit our website at: www.enel.com (Investor Relations) 74