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INVESTOR DAY – Enel

Enel · Mar 19, 2015 · 104 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. INVESTOR DAY – Enel – slide 1
    2015 Investor day 2015-19 Strategic Plan New foundations for growth March 19, 2015
  2. INVESTOR DAY – Enel – slide 2
    2015 Investor day Agenda Enel Group Investor Relations 2014 main developments Francesco Starace CEO FY 2014 results Alberto De Paoli CFO 2015-2019 strategic plan Francesco Starace CEO 2015-2019 key financial figures…
  3. INVESTOR DAY – Enel – slide 3
    2015 Investor day Opening remarks Enel Group Investor Relations Strong player in all technologies and across many geographies New organizational structure implemented to address industry challenges Management actions to…
  4. INVESTOR DAY – Enel – slide 4
    2014 main developments Highlights Enel Group Investor Relations New Group organization established Targeted disposals achieved Financial targets delivered Paving the way for a new strategic plan 3
  5. INVESTOR DAY – Enel – slide 5
    2014 main developments New Group organization established Enel Group Investor Relations Challenges Solutions implemented Structurally integrated group with Complex organization focus on synergies Multiple decision making…
  6. INVESTOR DAY – Enel – slide 6
    2014 main developments New Group organization established Enel Group Investor Relations Global Business Lines Global Global Renewable Global Upstream Infrastructures Generation Energies Trading Gas & Networks Italy…
  7. INVESTOR DAY – Enel – slide 7
    2014 main developments New Group organization established Enel Group Investor Relations Enel Enel 100% 100% Enel Iberoamrica Enel Iberoamrica 92.06% Endesa 70.14% 60.62%1 100% Enel Latinoamerica 20.3% Endesa…
  8. INVESTOR DAY – Enel – slide 8
    2014 main developments Targeted disposals achieved Enel Group Investor Relations 2014 Disposals (bn) Minorities buy-out and other operations (bn) Sale of 22% Endesa 3.1 Minorities buy-out Latam -0.6 Renewables 0.5 4.8% of…
  9. INVESTOR DAY – Enel – slide 9
    2014 main developments Financial targets delivered Enel Group Investor Relations Actual 2014 Targets Recurring EBITDA 15.5 bn 15.5 bn Net ordinary income 3 bn 3 bn Net debt 37.41 bn 372 bn Dividend per share 0.14 /sh…
  10. INVESTOR DAY – Enel – slide 10
    2015 Investor day Agenda Enel Group Investor Relations 2014 main developments Francesco Starace CEO FY 2014 results Alberto De Paoli CFO 2015-2019 strategic plan Francesco Starace CEO 2015-2019 key financial figures…
  11. INVESTOR DAY – Enel – slide 11
    FY 2014 results Consolidated results (mn) Enel Group Investor Relations Revenues Recurring EBITDA1 -4% -2% 78,663 75,791 15,769 15,502 FY 2013 FY 2014 FY 2013 FY 2014 Group net ordinary income2 Net debt3 -4% -6%…
  12. INVESTOR DAY – Enel – slide 12
    FY 2014 results Group recurring EBITDA (mn) Enel Group Investor Relations -1.7% +215 -34 -352 15,769 -89 +35 -42 15,502 2013 Italy1 Iberia Latam East Renewables H&S 2 2014 Europe 1. Generation&Energy Management…
  13. INVESTOR DAY – Enel – slide 13
    FY 2014 results Group recurring EBITDA analysis (mn) Enel Group Investor Relations By responsibility By business East Europe Latam Networks 1,204 3,091 47% 8% 20% Italy2 15.51 20% Iberia 15.5 6,173 40% 3,203 34% 12%…
  14. INVESTOR DAY – Enel – slide 14
    FY 2014 results From EBITDA to Group net income (mn) Enel Group Investor Relations 15,757 -6,243 -6,427 Goodwill imp. 3,087 -3,165 -891 +850 -255 517 1 Reported D&A Impairment EBIT Net financial Income taxes…
  15. INVESTOR DAY – Enel – slide 15
    FY 2014 results From Net Income to Net Ordinary Income (mn) Enel Group Investor Relations 1 +4,062 -1,392 East 2,142 Europe -193 2,994 Generation Italy 1,460 Hydro Aysen 180 EGP 162 517 Other 118 Group net…
  16. INVESTOR DAY – Enel – slide 16
    FY 2014 results Capex1 (bn) Enel Group Investor Relations By activity2 By business By region Growth Networks 3.1 2.5 Iberia 37% Latam 46% 15% 38% 6.7 6.7 6.7 33% Generation 27% 54% 25% 2.2 Renewables Italy 14% 1.7…
  17. INVESTOR DAY – Enel – slide 17
    FY 2014 results Net free cash flow (mn) Enel Group Investor Relations 15,502 - 1,974 +506 -1,396 - 2,730 9,908 - 6,701 Net Capex 6,038 3,207 -2,068 1,139 2 3 Recurring Provisions 1 Working Income Financial FFO Gross…
  18. INVESTOR DAY – Enel – slide 18
    FY 2014 results Net debt evolution (mn) Enel Group Investor Relations -2,323(1) Dec 31, 2014 on Dec 31, Extraordinary Dec 31, Asset held continuing 2013 Net free cash flow activities FX effect 2014 for sale operations…
  19. INVESTOR DAY – Enel – slide 19
    2015 Investor day Agenda Enel Group Investor Relations 2014 main developments Francesco Starace CEO FY 2014 results Alberto De Paoli CFO 2015-2019 strategic plan Francesco Starace CEO 2015-2019 key financial figures…
  20. INVESTOR DAY – Enel – slide 20
    2015-2019 strategic plan Enel today Enel Group Investor Relations Leading Leading retail Leading Balanced network business renewable generation operator operator portfolio 61 mn end users 56 mn power 9.6 GW installed 86 GW…
  21. INVESTOR DAY – Enel – slide 21
    2015-2019 strategic plan Enel today1 Enel Group Investor Relations Europe Capacity: 66.5 GW Russia End users: 45.8 mn Capacity: 9.1 GW North America Capacity: 2.0 GW Mexico & Central America Capacity: 0.8GW Latin America…
  22. INVESTOR DAY – Enel – slide 22
    2015-2019 strategic plan Key global themes in the utility sector Enel Group Investor Relations Capex driven towards infrastructure Demand growth in emerging countries expansion and upgrade Grid digital transformation…
  23. INVESTOR DAY – Enel – slide 23
    2015-2019 strategic plan Key global themes in the utility sector: emerging Enel Group countries Investor Relations Key growth drivers Enel positioning1 Countries of Countries of Areas under presence interest screening2…
  24. INVESTOR DAY – Enel – slide 24
    2015-2019 strategic plan Key global themes in the industry: mature countries Enel Group Investor Relations New business opportunities Enel positioning Large scale innovation in infrastructure (Storage, Electric Vehicles, Smart…
  25. INVESTOR DAY – Enel – slide 25
    2015-2019 strategic plan Key global themes in the industry: renewables Enel Group business Investor Relations World renewables capacity1 (GW) Enel positioning Europe 5.8 GW in operation +190% 0.1 GW in execution 4.0 GW…
  26. INVESTOR DAY – Enel – slide 26
    2015-2019 strategic plan Key pillars Enel Group Investor Relations 1 Operational efficiency 2 Industrial growth 3 Active portfolio management 4 Shareholder remuneration 25
  27. INVESTOR DAY – Enel – slide 27
    2015-2019 strategic plan Operational efficiency (bn) Enel Group Investor Relations -7% Opex1 9.9 3 3 9.2 9.2 Cash costs Leverage on new organizational structure: integration and technology -8% sharing 13.5 2014 2016 2019…
  28. INVESTOR DAY – Enel – slide 28
    2015-2019 strategic plan Operational efficiency: focus on opex1 Enel Group Investor Relations Networks Network digitalization -12% /end user Centralized planning 58.5 51.7 Workforce management using mobile devices Leverage…
  29. INVESTOR DAY – Enel – slide 29
    2015-2019 strategic plan Operational efficiency: focus on maintenance Enel Group capex (bn) Investor Relations Conventional Generation -14% 4.4 Maintenance capex1 -9% 3.8 17.32 Previous New 15.7 Networks3 -11% 11.0…
  30. INVESTOR DAY – Enel – slide 30
    2015-2019 strategic plan Key pillars Enel Group Investor Relations 1 Operational efficiency 2 Industrial growth 3 Active portfolio management 4 Shareholder remuneration 29
  31. INVESTOR DAY – Enel – slide 31
    2015-2019 strategic plan Industrial growth: main criteria Enel Group Investor Relations Decreasing business risk profile: no merchant exposure Increasing optionality based on project size and diversification Significant…
  32. INVESTOR DAY – Enel – slide 32
    2015-2019 strategic plan Industrial growth (bn) Enel Group Investor Relations Capex plan1 New Plan Maintenance Growth 34.0 46% 34.0 54% 15.7 18.3 29.7 +48% 18.3 12.4 2 Previous Plan -9% 17.3 15.7 Maintenance 17.3…
  33. INVESTOR DAY – Enel – slide 33
    2015-2019 strategic plan Industrial growth (bn) Enel Group Investor Relations Growth capex by Business1 Growth capex by Geography1 Renewables Italy Latam 18% Networks 48% 30% RoW3 49% 18.3 9% 18.3 11% Iberia 20% 7%…
  34. INVESTOR DAY – Enel – slide 34
    2015-2019 strategic plan Industrial growth: EBITDA (bn) Enel Group Investor Relations 90% of additional EBITDA in Additional growth regulated and quasi Growth EBITDA EBITDA by business regulated activities (cumulative 2015-19)…
  35. INVESTOR DAY – Enel – slide 35
    2015-2019 Strategic Plan Industrial growth Enel Group Investor Relations Networks Retail Renewables Conventional generation +3.6 mn end users +4.5 mn new customers +7.1 GW +720 MW in Latam +11 mn smart meters in power & gas…
  36. INVESTOR DAY – Enel – slide 36
    2015-2019 strategic plan Industrial growth: networks (bn) Enel Group Investor Relations Stable returns over 40 bn Growth capex1 by region Growth capex1 by project RAB Commercial losses Latam +11 mn smart meters Smart Meters…
  37. INVESTOR DAY – Enel – slide 37
    2015-2019 strategic plan Industrial growth: retail Enel Group Investor Relations Focus on free market Innovation of new energy Power customers (mn) Gas customers (mn) service offerings +19% +21% Iberia 20.0 Italy 5.7…
  38. INVESTOR DAY – Enel – slide 38
    2015-2019 strategic plan Industrial growth: retail Enel Group Investor Relations Focus on new energy services New Energy Services New Energy services EBITDA1 (mn) commodity related & energy efficiency solutions Simple…
  39. INVESTOR DAY – Enel – slide 39
    2015-2019 strategic plan Industrial growth: renewables Enel Group Investor Relations Leverage sector growth Growth capex 1 Additional capacity trends Rest of Rest of Brazil Latam Brazil Latam Predictable cash-flows Chile…
  40. INVESTOR DAY – Enel – slide 40
    2015-2019 strategic plan Industrial growth: conventional generation Enel Group Investor Relations 0.7 GW additional capacity Quimbo Los Condores under PPA regime Country: Colombia Country: Chile Technology: Large hydro…
  41. INVESTOR DAY – Enel – slide 41
    2015-2019 strategic plan Key pillars Enel Group Investor Relations 1 Operational efficiency 2 Industrial growth 3 Active portfolio management 4 Shareholder remuneration 40
  42. INVESTOR DAY – Enel – slide 42
    2015-2019 strategic plan Active portfolio management Enel Group Investor Relations All assets under ongoing review Capital recycling to drive higher returns Providing additional resources to fuel growth Consistency with…
  43. INVESTOR DAY – Enel – slide 43
    2015-2019 strategic plan Active portfolio management Enel Group Investor Relations 2 bn under execution Latam reorganization 2 bn already identified Further growth opportunities 1bn to be identified 5 bn total capital…
  44. INVESTOR DAY – Enel – slide 44
    2015-2019 strategic plan Key pillars Enel Group Investor Relations 1 Operational efficiency 2 Industrial growth 3 Active portfolio management 4 Shareholder remuneration 43
  45. INVESTOR DAY – Enel – slide 45
    2015-2019 strategic plan Shareholder remuneration Enel Group Investor Relations Dividend policy Transition phase Actual DPS Minimum DPS (/sh) (/sh) 0.18 0.16 0.14 60% 65% 65% 50% 55% 2015 2016 2017 2018 2019 2014 2015…
  46. INVESTOR DAY – Enel – slide 46
    2015 Investor day Agenda Enel Group Investor Relations 2014 main developments Francesco Starace CEO FY 2014 results Alberto De Paoli CFO 2015-2019 strategic plan Francesco Starace CEO 2015-2019 key financial figures…
  47. INVESTOR DAY – Enel – slide 47
    2015-2019 key financial figures Introduction Enel Group Investor Relations 1 EBITDA and Net income evolution 2 Financial plan and strategy 3 Focus on cash flow generation 46
  48. INVESTOR DAY – Enel – slide 48
    2015-2019 key financial figures EBITDA evolution (bn) Enel Group Investor Relations +10% +1 -0.7 +2.4 -0.5 -0.7 17 15.5 FY 2014 Growth Efficiency Regulatory Scenario Disposals FY 2019E 47
  49. INVESTOR DAY – Enel – slide 49
    2015-2019 key financial figures EBITDA evolution (bn) Enel Group Investor Relations 2014 2019 Italy Iberia 20% 20% 25% Latam 21% East Europe 15.51 8% Renewables 171 4% 12% 14% 40% 36% 47% 45% Networks Renewables…
  50. INVESTOR DAY – Enel – slide 50
    2015-2019 key financial figures Net income evolution (bn) Enel Group Investor Relations +35% +0.7 -0.3 -0.9 +2.4 - 0.6 -0.2 4.1 3.0 Ordinary net EBITDA Financial D&A Income tax Minorities Disposals Ordinary net…
  51. INVESTOR DAY – Enel – slide 51
    2015-2019 key financial figures Financial plan and strategy Enel Group Investor Relations Actions completed Further actions Further repayment of debt at maturity Repayment of 4.3 bn debt at maturity with excess cash…
  52. INVESTOR DAY – Enel – slide 52
    2015-2019 key financial figures Financial plan and strategy Enel Group Investor Relations Gross and Net Debt (bn) Net Financial expenses on Debt (bn) -10.3 -20%1 6.5% 6.0% 57.0 5.1% 5.4% 51.8 49.2 13.1 46.7 5.0%…
  53. INVESTOR DAY – Enel – slide 53
    2015-2019 key financial figures Growth plan funding (bn) Enel Group Investor Relations 18.3 6 1.5 25% self-financing1 1.5 Efficiencies on maintenance capex 2.52 Efficiencies on opex 12.4 Savings on financial 12…
  54. INVESTOR DAY – Enel – slide 54
    2015-2019 key financial figures Cash flow generation (bn) Enel Group Investor Relations 79 5 1.5 11 12 49.5 16 33.5 18 15.5 14 1.5 Recurring Provisions 1 NWC and Income Financial FFO Maintenence FFO after Growth FCF…
  55. INVESTOR DAY – Enel – slide 55
    2015 Investor day Agenda Enel Group Investor Relations 2014 main developments Francesco Starace CEO FY 2014 results Alberto De Paoli CFO 2015-2019 strategic plan Francesco Starace CEO 2015-2019 key financial figures…
  56. INVESTOR DAY – Enel – slide 56
    2015 Investor day Closing remarks Enel Group Investor Relations Plan delivers Efficiency 5 bn over the plan Free cash flow generation of 15.5 bn Growth EBITDA of 2.4 bn in 2019: +10% vs 2014 Attractive return to…
  57. INVESTOR DAY – Enel – slide 57
    2015 Investor day Closing remarks Enel Group Investor Relations CAGR (%) 2015 2016 2017 2015-19 Recurring EBITDA 15.0 15.0 15.6 +3% Net ordinary income 3.0 3.1 3.4 +10% Minimun DPS 0.16 /sh 0.18 /sh +17% Pay-out 50%…
  58. INVESTOR DAY – Enel – slide 58
    2015-19 Strategic plan annexes 57
  59. INVESTOR DAY – Enel – slide 59
    Assumptions Commodities Enel Group Investor Relations Brent /bbl Coal /ton 75 69 84 60 74 63 2015 2016 2017 2015 2016 2017 Gas TTF /MWh CO2 /ton 11 22 9 21 7 19 2015 2016 2017 2015 2016 2017 58
  60. INVESTOR DAY – Enel – slide 60
    Assumptions Macroeconomics Enel Group Investor Relations GDP Electricity demand (yoy) FX - / 4.5% 4.6% 4.1% 3.4% 1.22 3.2% 1.9% 1.3% 1.1% 0.8% 1.17 1.0% 1.2% 0.6% 1.13 1.6% 1.8% 2.5% 2.0% 1.4% 1.8% 2015 2016 2017 2015…
  61. INVESTOR DAY – Enel – slide 61
    Strategic plan 2015-19 Focus on efficiency (bn) Enel Group Investor Relations Opex evolution1 Opex by business2 CAGR -6.4% 3.8 2.7 Conventional generation +0.7 -0.2 -1.1 2014 2019 +0.5 -1% 3.6 3.4 9.9 Networks 9.7…
  62. INVESTOR DAY – Enel – slide 62
    2015-2019 strategic plan Key global themes in the utility sector: demand growth Enel Group Investor Relations Increasing share of electricity on total World electricity demand (TWh) world energy consumption +8,000TWh Emerging…
  63. INVESTOR DAY – Enel – slide 63
    Strategic plan 2015-19: focus on divisions Italian operations: targets1 Enel Group Investor Relations Capex2 (bn) EBITDA (bn) 5.93 5.63 1.83 1.83 1.63 5.23 0.2 0.1 0.1 1.2 1.3 1.3 0.3 0.2 0.2 0.8 0.6 0.9 1.3 1.4 1.3 3.7…
  64. INVESTOR DAY – Enel – slide 64
    Strategic plan 2015-19: focus on divisions Iberia: targets1 Enel Group Investor Relations Capex2 (bn) EBITDA (bn) 3.13 3.23 3.13 1.13 1.8 1.7 1.8 1.03 1.13 0.6 0.7 0.7 1.3 1.4 1.4 0.4 0.5 0.4 2015 2016 2017 2015…
  65. INVESTOR DAY – Enel – slide 65
    Strategic plan 2015-19: focus on divisions Latam: targets1 Enel Group Investor Relations Capex2 (bn) EBITDA (bn) 4.23 4.33 3.73 1.7 1.8 1.6 2.13 1.83 1.73 1.1 1.0 1.0 2.1 2.5 2.5 1.0 0.8 0.7 2015 2016 2017 2015…
  66. INVESTOR DAY – Enel – slide 66
    Strategic plan 2015-19: focus on divisions East Europe operations: targets1, 2 Enel Group Investor Relations Capex3 (bn) EBITDA (bn) 0.6 0.6 0.5 0.3 0.3 0.3 2015 2016 2017 2015 2016 2017 1. Net of assets held for…
  67. INVESTOR DAY – Enel – slide 67
    Strategic plan 2015-19: focus on divisions Renewables: targets1 Enel Group Investor Relations Capex2 (bn) EBITDA (bn) 2.1 2.1 2.1 2.0 1.9 1.8 2015 2016 2017 2015 2016 2017 1. Gross of disposals 2. Gross Capex 66
  68. INVESTOR DAY – Enel – slide 68
    Strategic plan 2015-19 Capex plan (bn) Enel Group Investor Relations 34.0 2.6 7.8 6.7 7.0 6.4 0.8 6.4 6.4 0.7 0.6 0.4 0.4 0.4 31.4 6.0 7.0 6.4 6.0 6.0 6.0 2014 2015 2016 2017 2018 2019 2015-19 Contributions Net capex…
  69. INVESTOR DAY – Enel – slide 69
    Strategic plan 2015-19 New CO2 reduction Target Enel Group Investor Relations CO2 specific emissions performance and target of reduction (gCO2/kWheq.) 618 -32% -35% -15% 465 418 396 396…
  70. INVESTOR DAY – Enel – slide 70
    FY 2014 results annexes
  71. INVESTOR DAY – Enel – slide 71
    FY 2014 results From EBITDA to Net Income(mn) Enel Group Investor Relations FY13 FY13 FY14 FY14 Reported % vs Ordinary2 % vs Reported Ordinary2 Restated1 Restated1 EBITDA 15,757 16,691 -5.6 15,502 15,769 -1.7 D&A (12,670)…
  72. INVESTOR DAY – Enel – slide 72
    FY 2014 results Focus on taxes (mn) Enel Group Investor Relations 2,222 +1,465 2,007 +747 +77 -366 -243 +1,392 -850 Income Taxes Tax credit on Impairment Ordinary Deferred Deferred Deferred Other Pro-forma 2014…
  73. INVESTOR DAY – Enel – slide 73
    FY 2014 results Group reported EBITDA evolution (mn) Enel Group Investor Relations -5.6% 16,691 +79 +215 -29 -89 +8 -352 +158 -924 15,757 1,022 98 1,780 1,938 3,443 3,091 3,195 S&H 3,203 EGP 1,293 Latam 1,204…
  74. INVESTOR DAY – Enel – slide 74
    FY 2014 results: EBITDA evolution G&EM Italy (mn) Enel Group Investor Relations +7.3% -19 1,163 +170 1,084 -72 FY13 Generation Gas Other2 FY14 restated1 margin margin 1. Due to the application of IFRS 11 2.…
  75. INVESTOR DAY – Enel – slide 75
    FY 2014 results: EBITDA evolution Market Italy (mn) Enel Group Investor Relations +24.8% +239 -24 1,081 866 FY13 Free Regulated FY14 restated market market 74
  76. INVESTOR DAY – Enel – slide 76
    FY 2014 results: EBITDA evolution Infrastructure & Networks Italy (mn) Enel Group Investor Relations -0.7% 4,008 -235 -103 +309 3,979 FY13 Energy Connection Other FY14 restated margin fees 75
  77. INVESTOR DAY – Enel – slide 77
    FY 2014 results: EBITDA evolution International (mn) Enel Group Investor Relations -6.9% -12.3% +80 1,373 -171 1,293 +10 +33 -41 1,204 399 358 289 Enel Russia +10 France, Belgium, EIH4 299 SEE3 Slovakia 708 537…
  78. INVESTOR DAY – Enel – slide 78
    FY 2014 results: EBITDA evolution Iberia1 (mn) Enel Group Investor Relations +0.3% -95 +212 -109 3,195 3,203 FY13 Liberalized Regulated Other FY14 restated2 business business 1. Enel GAAP 77 2. Due to the application…
  79. INVESTOR DAY – Enel – slide 79
    FY 2014 results: EBITDA evolution Latam1 (mn) Enel Group Investor Relations -10.2% 3,443(2) -266 +28 +15 +68 +102 -294 Peru 3,091(3) 424 mn Peru Colombia 432 mn 1,071 mn Colombia 1,097 mn Chile 805 mn Chile 759 mn…
  80. INVESTOR DAY – Enel – slide 80
    FY 2014 results: EBITDA evolution Renewables (mn) Enel Group Investor Relations +8.9% +2.0% +123 +1,938 1,780 +6 +30 1,815 -1 246 276 203 202 North America Latin America 1,331 Europe 1,337 FY13 Europe Latin North…
  81. INVESTOR DAY – Enel – slide 81
    FY 2014 results: EBITDA evolution Other1 (mn) Enel Group Investor Relations n.s. +1,022 -42 -882 +98 FY13 Services Other FY14 1. Including Services & Holding, Engineering & Research, upstream gas and nuclear…
  82. INVESTOR DAY – Enel – slide 82
    FY 2014 results Forward sales Enel Group Investor Relations Italy Spain Latam 95% 75% 75% 65% 35% 5% 2015 2016 2015 2016 2015 2016 55.2 47.4 57.6 56.2 70.1 72.3 Hedged Average price /MWh Unhedged 81
  83. INVESTOR DAY – Enel – slide 83
    Financial annexes: FY 2014 From Gross Debt to Net Debt (mn) Enel Group Investor Relations 57,032 6,561 Short-term debt 8,377 -1,174 13,088 Tariff deficit 37,383 Long-term debt 48,655 Gross Debt 2014 Financial…
  84. INVESTOR DAY – Enel – slide 84
    Financial annexes: FY 2014 Gross debt maturity profile and structure (FY 2014) Enel Group Investor Relations Debt maturity Interest rate composition Floating Maturity < 2017 23% 30% 70% 77% Fixed + Maturity Hedged…
  85. INVESTOR DAY – Enel – slide 85
    Financial annexes: FY 2014 Debt Structure by Instrument 2014 Enel Group Investor Relations Third Parties view Eastern Debt by instrument Enel Spa EFI Italy Iberia Latam Renewables Europe Total & Other Bonds 19.65 19.91 - 0.15…
  86. INVESTOR DAY – Enel – slide 86
    Financial annexes Debt maturity coverage Enel Group Investor Relations 26.5 25.8 Long term committed credit lines1 13.4 8.4 4.9 7.2 4.9 3.3 5.8 Short term Cash 13.1 Long term 5.1 FY 2014 < 12m 2016 2017 2018 2019…
  87. INVESTOR DAY – Enel – slide 87
    FY 2014 Balance sheet Enel Group Investor Relations FY13 mn restated FY14 % Net financial debt 39,706 37,383 -5.9 Shareholders equity 52,832 51,145 -3.2 Net capital employed 92,538 88,528 -4.3 86
  88. INVESTOR DAY – Enel – slide 88
    FY 2014 Generation & Energy Management - Italy Enel Group Investor Relations FY13 mn FY14 % restated Revenues 22,798 22,606 -0.8 EBITDA 1,084 1,163 +7.3 EBIT 493 (1,539) n.s. Capex 313 285 -8.9 Headcount 5,621 5,314…
  89. INVESTOR DAY – Enel – slide 89
    FY 2014 Market - Italy Enel Group Investor Relations FY13 mn FY14 % restated Revenues 16,921 15,226 -10.0 EBITDA 866 1,081 +24.8 EBIT 362 455 +25.7 Capex 99 111 +12.1 Headcount 3,687 3,633 -1.5 88
  90. INVESTOR DAY – Enel – slide 90
    FY 2014 Infrastructure & Network - Italy Enel Group Investor Relations FY13 mn FY14 % restated Revenues 7,698 7,366 -4.3 EBITDA 4,008 3,979 -0.7 EBIT 3,028 2,943 -2.8 Capex 1,046 996 -4,8 Headcount 17,689 17,398 -1.6…
  91. INVESTOR DAY – Enel – slide 91
    FY 2014 International Enel Group Investor Relations FY13 mn FY14 % restated Revenues 6,296 5,278 -16.2 EBITDA 1,293 1,204 -6.9 EBIT (23) (2,682) n.s. Capex 924 936 +1.3 Headcount 11,439 10,403 -9.1 90
  92. INVESTOR DAY – Enel – slide 92
    FY 2014 Iberia Enel Group Investor Relations FY13 mn FY14 % restated Revenues 21,123 20,900 -1.1 EBITDA 3,195 3,203 +0.3 EBIT 1,382 1,240 -10.3 Capex 845 993 +17.5 Headcount 10,933 10,500 -4.0 91
  93. INVESTOR DAY – Enel – slide 93
    FY 2014 Latam Enel Group Investor Relations FY13 mn FY14 % restated Revenues 9,551 9,647 +1.0 EBITDA 3,443 3,091 -10.2 EBIT 2,385 1,549 -35,1 Capex 1,315 1,609 +22.4 Headcount 11,608 12,301 +6.0 92
  94. INVESTOR DAY – Enel – slide 94
    FY 2014 Renewables Enel Group Investor Relations FY13 mn FY14 % restated Revenues 2,769 2,921 +5.5 EBITDA 1,780 1,938 +8.9 EBIT 1,205 1,124 -6.7 Capex 1,294 1,658 +28.1 Headcount 3,469 3,609 +4.0 93
  95. INVESTOR DAY – Enel – slide 95
    FY 2014 Other1 Enel Group Investor Relations FY13 mn FY14 % restated Revenues2 2,885 2,013 -30.2 Holding 276 246 -10.9 Services 1,447 1,434 -0.9 Engineering & Research 313 347 +10.9 Upstream 967 84 -91.3 EBITDA3 1,022…
  96. INVESTOR DAY – Enel – slide 96
    FY 2014 Other1 - Continued Enel Group Investor Relations FY13 mn FY14 % restated EBIT2 908 (3) -100.3 Holding (74) (92) -24.3 Services & other 37 21 -41.7 Engineering & Research 9 8 -11.1 Upstream 936 60 -93.6 Capex 84 113…
  97. INVESTOR DAY – Enel – slide 97
    FY 2014 Capex by business area (mn)1 Enel Group Investor Relations +13.2% 6,701 5,920 113 +34.5% 84 S&H 2 1,658 +28.1% EGP 1,294 Latam 1,609 +22.4% Iberia 1,315 International I&N 845 993 +17.5% Market 924 936…
  98. INVESTOR DAY – Enel – slide 98
    Operational annexes
  99. INVESTOR DAY – Enel – slide 99
    Operational annexes Production mix (TWh) +0.8% Enel Group Investor Relations 71.2 71.8 0.7% 0.4% 10.1% 8.6% Group production mix 47.3% 49.2% Italy +0.5% 9.4% 9.7% 281.8 283.1 32.5% 32.1% 10.4% 10.5% 14.0% 13.2% FY13…
  100. INVESTOR DAY – Enel – slide 100
    FY2014 Group total net installed capacity1 Breakdown by source and location Enel Group Investor Relations MW Hydro Other Nuclear Coal CCGT Oil & gas TOTAL ren. ST/OCGT Italy 12,698 1,662 - 6,486 5,199 10,778 36,823 Iberia 4,764…

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