1Q2012 results presentation

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1Q2012 results presentation - May 10 2012

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1Q2012 results presentation

  1. 1. Enel SpA Investor Relations1Q2012 ResultsMay 10, 2012
  2. 2. Enel SpA Investor RelationsAgenda • 1Q2012 results • Annexes 1
  3. 3. Enel SpA 1Q2012 results Investor Relations 1Q12 electricity demand vs. Plan assumptions Electricity demand 1Q2012 Electricity demand 2011-2016 CAGR 1Q12 actual -1.9% 1.9% Italy +1.2% +1 2%Italy FY12 budget +0.4% 1Q12 actual -1.0% +1.5%Spain1 Spain1 FY12 b d t budget -0.8% 0 8% 1Q12 actual +2.8% Russia +1.3%Russia FY12 budget +1.0% 1Q12 actual -0.8% Slovakia +1.8%Slovakia FY12 budget +1.6% 1Q12 actual +5.9% Latam2,3 +5.1%Latam2,3 FY12 budget +4.4% Budget Mature markets Growth markets 1. Peninsular 2. Brazil, Chile (CIS), Colombia, Peru, Argentina 3. Average demand growth weighted by production 2
  4. 4. Enel SpA 1Q2012 results Investor Relations Financial highlights: consolidated €mn 1Q11 1Q12 % Revenues 19,536 21,193 +8.5 EBITDA 4,399 4,302 -2.2 EBIT 3,036 2,902 -4.4 Group net income 1,201 1,184 -1.4 (1) Group net ordinary income 1,182 1,003 -15.2 (2),(3) (3) Net debt 44,629 45,617 +2.21. Excluding capital gains, losses and one-off items2. As of December 31, 20113. Excluding net debt of assets held for sale 3
  5. 5. Enel SpA 1Q2012 results Investor Relations From EBIT to Net Income €mn 1Q11 1Q12 %EBIT 3,036 2,902 -4.4Net financial charges 738 635 -14.0 Interest charges 667 747 +12.0 Other 71 (112) n.m.Net income from equity investments et co e o equ ty est e tsusing equity method (58) ( 8) (26) -55.2EBT 2,356 2,293 -2.7Income tax 830 792 -4.6 4.6Net income (continuing operations & including third parties) 1,526 1,501 -1.6Minorities 325 317 -2.5Group net income 1,201 1 201 1,184 1 184 -1.4 14 4
  6. 6. Enel SpA 1Q2012 results Investor Relations Focus on forward electricity sales Level of total production hedged (%) Italy Spain 100 100 100 100 ~ 10 ~ 55 ~ 65-70 ~ 90(1) ~ 45(1) ~ 30-35 2012 2013 2012 2013(2) Latam Slovakia 100 100 100 100 ~ 20-25 ~ 35-40 ~ 60 ~75-80 75 80 ~ 60 65 60-65 ~ 40 2012 2013 2012 2013 Unhedged Hedged1. Including roll-over2. Not including domestic coal output 5
  7. 7. Enel SpA 1Q2012 results Investor Relations Group EBITDA evolution (€mn) -2.2% 4,399 -118 -3 -30 -26 +61 -11 +30 4,302 11 390 41 379 1,820 1 820 1,881 Other1 EGP 449 Iberia & Latam 423 International I&N 984 Market 954 G&EM 179 176 566 448 1Q11 G&EM Market I&N Inter- Iberia & EGP Other 1Q12 Italy Italy Italy national Latam1. Including Services & Holding, Engineering & Innovation, upstream gas and nuclear activities 6
  8. 8. Enel SpA 1Q2012 results Investor RelationsEBITDA evolution: G&EM Italy (€mn) -20.8% 566 -81 81 +43 -80 448 1Q11 Generation Trading Other 1Q12 margin margin 7
  9. 9. Enel SpA 1Q2012 results Investor RelationsEBITDA evolution: Market Italy (€mn) -1.7% 179 -5 5 +2 2 176 1Q11 Free Regulated 1Q12 market market 8
  10. 10. Enel SpA 1Q2012 results Investor RelationsEBITDA evolution: Infrastructure & Networks Italy (€mn) -3.0% 984 +6 -2 -34 954 1Q11 Energy Connection Other 1Q12 margin fees 9
  11. 11. Enel SpA 1Q2012 results Investor Relations EBITDA evolution: International (€mn) -5.8% 449 +17 -54 -14 +25 423 121 146 41 27 71 17 Russia France & Belgium SEE Centrel 234 216 1Q11 Centrel1 SEE2 France Russia 1Q12 & Belgium31. Slovenské Elektrárne2. Romanian, Bulgarian and Greek operations3. Including Enel Investment Holding 10
  12. 12. Enel SpA 1Q2012 results Investor RelationsFocus on Russia: SeverEnergiaProduction (bcm) – Enel’s stake CAGR: ~ +200% 4.70.3 West Siberia Moscow2012 2016 Noviy Urengoy SeverEnergia to become the second independent g p Russian gas producer 11
  13. 13. Enel SpA 1Q2012 results Investor Relations EBITDA evolution1: Endesa - Iberia2 (€mn) -2.3% 1,133 -5 -47 +26 1,107 1Q11 Liberalized Regulated Other 1Q12 business business1. Enel’s GAAP figures2. Including Ireland and Marocco 12
  14. 14. Enel SpA 1Q2012 results Investor Relations EBITDA evolution1: Endesa - Latam (€mn) +12.7% +21 774 +67 687 -83 +82 1Q11 Generation Distribution Other Forex 1Q12 effect1. Enel’s GAAP figures 13
  15. 15. Enel SpA 1Q2012 results Investor RelationsEBITDA evolution: Enel Green Power (€mn) +8.0% 390 -39 +13 +2 379 351 -4 +17 2 40 37 24 137 114 131 Enel.si North America 213 213 Iberia and Latin America 209 Italy and Europe 1Q11 Other 1Q11 Italy and Iberia and North Enel.si 1Q12 adjusted Europe Latin America America 14
  16. 16. Enel SpA 1Q2012 results Investor Relations Net debt evolution (€mn) +988 (1) December 31, Cash-flow Capex Net financial Dividends3 Extra- March 31, 2011 from operations charges2 ordinary 2012 activities +1(4) +1(4) -44,629 -45,617 +1,019 ,0 9 -1,336 -1 336 -747 747 -78 78 +154 1541. Net debt change calculated on continuing operations 3. Dividends paid to minorities2. Net financial charges due to interest expenses 4. Net financial debt of assets held for sale 15
  17. 17. Enel SpA Investor RelationsAgenda • 1Q2012 results • Annexes 16
  18. 18. Enel SpA 1Q2012 results - Operational annexes Investor Relations Production mix (TWh) +0.0% 19.7 19.7 1.2% 2.7% 23.2% 18.0% Group production mix 38.5% Italy +6.1% 54.4% 54 4% 7.7% 8.0% 73.5 78.0 29.4% 16.9% 13.1% 11.9% 11 9% 1Q11 1Q12 16.7% 16.3% +8.4% 28.0% 33.3% 13.2% 53.8 58.3 14.3% 4.3% 4.8% 17.5% 15.0% 24.7% 19.4% 14.3% 15.6% 1Q11 1Q12 International 24.2% 26.1% 18.0% 19.2%Other renewables Coal Oil & gas 3.1% 3.8%Hydro Nuclear CCGT 22.9% 20.3% 1Q11 1Q12 17
  19. 19. Enel SpA 1Q2012 results - Operational annexes Investor Relations 1Q12 Group total net installed capacity1: breakdown by source and location MW Hydro Other Nuclear Coal CCGT Oil & gas TOTAL ren. ST/OCGT Italy 13,648 1,463 - 6,746 5,916 12,022 39,795 Iberia 4,729 1,772 3,535 5,533 4,682(2) 4,757(3) 25,008 Centrel 2,329 7 1,816 849 - 400 5,401 SEE 19 654(4) ( ) - - - - 673 Americas 9,675 801 - 488 4,304 2,052 17,320 Russia - - - 3,623 809 4,575 9,007 TOTAL 30,400 4,697 5,351 17,239 15,711 23,806 97,2041. Including Group renewable capacity 3. Including 1,013 MW of installed capacity in Ireland 182. Including 123 MW of installed capacity in Morocco 4. Including 166 MW other renewable capacity in France
  20. 20. Enel SpA 1Q2012 results - Operational annexes Investor Relations 1Q2012 Group total net production1: breakdown by source and location GWh Hydro Other Nuclear Coal CCGT Oil & gas TOTAL ren. ST/OCGT Italy 3,327 1,576 - 10,717 3,543 531 19,694 Iberia 1,019 1,064 7,276 8,741 2,120(2) 2,416(3) 22,636 Centrel 1,150 8 3,897 556 - - 5,611 SEE 18 343(4) ( ) - - - - 361 Americas 9,628 801 - 540 5,669 954 17,592 Russia - - - 5,382 1,343 5,379 12,104 TOTAL 15,142 3,792 11,173 25,936 12,675 9,280 77,9981. Including Group renewable production 3. Including 7 GWh of net production in Ireland 192. Including 226 GWh of net production in Morocco 4. Including 91 GWh of net production in France
  21. 21. Enel SpA 1Q2012 results - Operational annexes Investor Relations 1Q2012 renewables net installed capacity: breakdown by source and location MW Hydro Geothermal Wind Other TOTALItaly &Europe 1,531 722 1,272 82 3,607Iberia & Latam 786 - 1,675 120 2,581 NorthAmerica 313 47 605 48 1,013 1 013TOTAL 2,630 769 3,552 250 7,201 20
  22. 22. Enel SpA 1Q2012 results - Operational annexes Investor Relations 1Q2012 renewables net production: breakdown by source and location GWh Hydro H d o Geothermal Geothe mal Wind Other Othe TOTALItaly & 917 1,302 602 14 2,835EuropeIberia & 914 - 975 120 2,009 Latam North 284 82 600 56 1,022 1 022AmericaTOTAL 2,115 1,384 2,177 190 5,866 21
  23. 23. Enel SpA 1Q2012 results - Financial annexes Investor RelationsGroup EBITDA: regulated/unregulated activities 1Q2012 EBITDA 4,302 €mn Stability and high visibility 48% 9% 43% Forward sales and hedging procurement contracts to protect Unregulated margin Regulated EGP 22
  24. 24. Enel SpA 1Q2012 results - Financial annexes Investor Relations EBITDA evolution - Other1 (€mn) +31 +13 41 +18 10 1Q11 Services Other 1Q121. Including Services & Holding, Engineering & Innovation, upstream gas and nuclear activities 23
  25. 25. Enel SpA 1Q2012 results - Financial annexes Investor RelationsEnel s long termEnel’s long-term debt maturity profile (€mn) Endesa E d Enel Group (excluding Endesa) 30,016 3,073 3 073Bonds 3,051Bank loans and others 3,970 7,021 26,943 6,477 5,825 5,106 , 3,750 1,121 805 2,139 683 4,704 5,672 3,271 793 4,423 1,346 <12m Q Q 2Q13-4Q13 2014 2015 2016 After 2016 6 years and 7 month Average cost of gross debt: 5.0% A t f d bt 5 0% 24
  26. 26. Enel SpA 1Q2012 results - Financial annexes Investor Relations Enel Group liquidity analysis (€mn) Amount Outstanding Available Committed credit lines 23,995 5,516 18,439(1) Cash and cash equivalents - (8,994) 8,994 Total 23,955 (3,478) 27,443 Uncommitted lines 1,724 1 724 120 1,604 Commercial paper 9,300 7,060 2,239 Total liquidity 34,979 3,702 31,2761. Of which 15€bn with maturity after 2014 25
  27. 27. Enel SpA 1Q2012 results - Financial annexes Investor Relations Debt structure1 • Average debt maturity: 6 years and 7 months • Average cost of gross debt2: 5.0% • (Fixed+hedged)/Total gross long-term debt: 82% • (Fixed+hedged)/Total net debt: 97% • Rating: Standard&Poor’s = BBB+/A-2 Stable Outlook Moody’s = A3/P-2 Negative outlook Fitch = A-/F2 Negative outlook December 31, March 31, €mn % 2011 2012 Long-term 45,127 46,056 +2.1 Short-term3 14,471 15,058 +4.1 Cash4 (14,969) (15,497) +3.5 Net debt 44,629 45,617 +2.21. 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 26
  28. 28. Enel SpA 1Q2012 results - Financial annexes Investor Relations Enel s Enel’s group financial debt evolution1 Enel Group ( p (excluding Endesa) g ) Endesa Group - Total p €mn 12.31.2011 03.31.2012 12.31.2011 03.31.2012 03.31.2012Bank loans – maturities > 12m 8,333 7,904 1,585 1,597 9,501Bonds – maturities > 12m 32,445 34,774 5,016 4,154 38,928Preference shares > 12m - - 180 - -Other loans – maturities > 12m 398 410 746 724 1,134Financial receivables – maturities > 12m -2,499 -2,421 -1,077 -1,086 -3,507Total net LT debt - maturities > 12m 38,677 40,667 6,450 5,389 46,056Bank loans – maturities < 12m 4,199 2,317 2,695 1,186 3,503Bonds – maturities < 12m 1,075 824 1,398 2,227 3,051Preference shares < 12m - - - 180 180Other loans – maturities < 12m 139 130 166 157 287Financial receivables – maturities < 12m -110 -38 -5,522 -4,304 -4,342Total net LT debt - maturities < 12m 5,303 3,233 -1,263 -554 2,679Other ST bank debt 826 223 62 57 280Commercial paper 2,016 5,270 1,188 1,779 7,049Cash Collateral and other derivatives payables 650 646 - - 646Other ST financial debt 4 6 53 56 62ST debt 3,496 6,145 1,303 1,892 8,037Factoring receivables -370 370 -237 237 - - -237 237Cash Collateral and other derivatives receivables -1,076 -1,197 - - -1,197Other ST financial receivables -592 -464 -232 -217 -681Cash at banks and marketable securities -4,313 -5,832 -2,754 -3,208 -9,040Total net ST debt (incl. current maturities) 2,448 1,648 -2,946 -2,087 -439Net financial debtN t fi i l d bt 41,125 41 125 42,315 42 315 3,504 3 504 3,302 3 302 45,617 45 6171. As of March 31st, 2012 27
  29. 29. Enel SpA 1Q2012 results - Financial annexes Investor Relations Enel s Enel’s group financial debt by subsidiary1€mn Enel SpA Endesa EFI2 EIH2 Slovenské EP2 ED2 Other TotalBonds 17,213 6,381 17,851 297 - - - 237 41,979Bank loans 2,466 2,783 1,512 - 839 605 2,974 1,825 13,004Preference shares - 180 - - - - - - 180Other loans (160) (4,509) - - (584) (247) (466) (462) (6,428)Commercial paper - 1,779 5,270 - - - - - 7,049Other (4,425) (3,312) - (14) (1) (73) (86) (2,256) (10,167)Total 15,094 15 094 3,302 3 302 24,633 24 633 283 254 285 2,422 2 422 (656) 45,617 45 6171. As of March 31st, 20122. EFI: Enel Financial International; EIH: Enel Investments Holding; EP: Enel Produzione; ED: Enel Distribuzione 28
  30. 30. Enel SpA 1Q2012 results - Financial annexes Investor Relations Enel s Enel’s group financial debtAverage cost of net debt Average cost of gross debt Average residual maturity (years:months) 5.9% 6.5% 5.5% 4.9% 5.0% 6.8 4.6% 6.7 6.7 2010 2011 1Q12 2010 2011 1Q12 2010 2011 1Q12 Net financial debt (€bn) Fixed + Hedged Fixed + Hedged /Total net debt /Total gross long term debt 45.6 45 6 44.9 44.6 93% 96% 97% 79% 78% 82% 2010 2011 1Q12 2010 2011 1Q12 2010 2011 1Q12 1. As of March 31st, 2012 29
  31. 31. Enel SpA 1Q2012 results - Financial annexes Investor Relations Enel s long term Enel’s long-term debt maturity profile (€mn) Enel Group (excluding Endesa) €mn <12m 2Q13-4Q13 2014 2015 2016 After 2016 Bank loans 2,317 360 2,557 653 1,110 3,224 Bonds 824 927 2,105 3,719 4,508 23,515 Other 130 59 42 51 54 204 Total 3,271 1,346 4,704 4,423 5,672 26,943 Endesa € €mn <12m 2Q13 4Q13 2Q13-4Q13 2014 0 2015 2016 After 2016 te 0 6 Bank loans 1,186 222 364 205 203 603 Bonds 2,227 477 655 419 545 2,058 Other1 337 94 102 59 57 412 Total 3,750 793 1,121 683 805 3,0731. Including preference shares 30
  32. 32. Enel SpA 1Q2012 results - Financial annexes Investor Relations Enel Group liquidity analysis excluding Endesa (€mn)1 Amount Outstanding Available 60M credit facility for Endesa acquisition 1,933 1,933 - 2009 credit facility for Endesa acquisition (2014) 1,359 1,359 - 2009 credit facility for Endesa acquisition (2016) 617 617 - Other committed credit lines2 14,271 1,327 12,944 Total committed credit lines 18,180 5,236 12,944 Other short-term Othe sho t te m bank debt – uncommitted lines ncommitted 276 103 173 Total credit lines 18,456 5,339 13,117 Commercial paper 6,000 5,279 721 Total credit lines + CP 24,456 10,618 13,838 Cash and cash equivalents - (5,786) 5,786 Total liquidity q y 24,456 4,832 19,6241. As of March 31st, 20122. Including 1,420€mn relating to a committed line pertaining to Slovenske Elektrarne 31
  33. 33. Enel SpA 1Q2012 results - Financial annexes Investor Relations Endesa liquidity analysis (€mn)1 Amount Outstanding Available Total committed credit lines , 5,775 280 5,495 , Other short-term bank debt – uncommitted lines 1,448 17 1,431 Total credit lines 7,223 297 6,926 Commercial paper issued by the Endesa Group 3,300 3 300 1,781 1 781 1,518 1 518 Total credit lines + CP 10,522 2,078 8,444 Cash and cash equivalents - (3,208) 3,208 Total liquidity 1,522 (1,130) 11,6521. As of March 31st, 2012 32
  34. 34. Enel SpA 1Q2012 results - Financial annexes Investor Relations Capex by business area (€mn)1 +16.1% 1,314 1,132 1 132 75 5 4 275 204 356 417 Other2 262 EGP 229 Iberia & Latam International I&N 309 238 Market G&EM 1 3 39 34 1Q11 1Q121. Continuing operations, gross of connection fees2. Including Services & Holding, Engineering & Innovation, upstream gas and nuclear activities 33
  35. 35. Enel SpA 1Q2012 results - Financial annexes Investor RelationsBalance sheet €mn FY11 1Q12 % Net financial debt 44,629 44 629 45,617 45 617 +2.2 +2 2 Shareholders’ equity 54,440 55,577 +2.1 Net capital employed p p y 99,069 , 101,194 , +2.1 34
  36. 36. Enel SpA 1Q2012 results - Financial annexes Investor Relations Generation & Energy Management - Italy €mn 1Q11 1Q12 % Revenues 5,094 6,035 +18.5 EBITDA 566 448 -20.8 EBIT 426 296 -30.5 30 5 Capex 39 34 -12.8 (1) Headcount 6,277 6 277 6,225 6 225 -0.8 -0 81. As of December 31st, 2011 35
  37. 37. Enel SpA 1Q2012 results - Financial annexes Investor Relations Market - Italy €mn 1Q11 1Q12 % Revenues 4,930 5,325 +8.0 EBITDA 179 176 -1.7 EBIT 122 94 -23.0 23 0 Capex 1 3 +200.0 (1) Headcount 3,745 3 745 3,696 3 696 -1.3 -1 31. As of December 31st, 2011 36
  38. 38. Enel SpA 1Q2012 results - Financial annexes Investor Relations Infrastructure & Network - Italy €mn 1Q11 1Q12 % Revenues 1,783 1,806 +1.3 EBITDA 984 954 -3.0 EBIT 759 724 -4.6 46 Capex 238 309 +29.8 (1) Headcount 18,951 18 951 18,883 18 883 -0.4 -0 41. As of December 31st, 2011 37
  39. 39. Enel SpA 1Q2012 results - Financial annexes Investor Relations International €mn 1Q11 1Q12 % Revenues 2,025 2,300 +13.6 EBITDA 449 423 -5.8 EBIT 294 335 +13.9 +13 9 Capex 229 262 +14.4 (1) Headcount 13,779 13 779 13,673 13 673 -0.8 -0 81. As of December 31st, 2011 38
  40. 40. Enel SpA 1Q2012 results - Financial annexes Investor Relations Iberia & Latam €mn 1Q11 1Q12 % Revenues 8,097 8,491 +4.9 EBITDA 1,820 1,881 +3.4 EBIT 1,152 1 152 1,172 1 172 +1.7 +1 7 Capex 417 356 -14.6 (1) Headcount 22,877 22 877 22,985 22 985 +0.5 +0 51. As of December 31st, 2011 39
  41. 41. Enel SpA 1Q2012 results - Financial annexes Investor Relations Enel Green Power €mn 1Q11 1Q12 % Revenues 606 605 -0.2 EBITDA 390 379 -2.8 EBIT 299 266 -11.0 11 0 Capex 204 275 34.8 (1) Headcount 3,229 3 229 3,300 3 300 +2.2 +2 21. As of December 31st, 2011 40
  42. 42. Enel SpA 1Q2012 results - Financial annexes Investor Relations Other1 €mn 1Q11 1Q12 % Revenues2 474 461 -2.7 Holding 158 73 -53.8 Services 251 335 +33.5 Engineering & Innovation 93 83 -10.8 10 8 Upstream 1 1 - EBITDA3 11 41 +272.7 Holding (17) (7) -58.8 Services 36 54 +50.0 Engineering & Innovation i i i (1) ( ) (2) +100 00 Upstream (4) (4) -1. Including Services & Holding, Engineering & Innovation, upstream gas and nuclear activities2. Including Other & Elisions of -29€mn in 1Q11 and -31€mn in 1Q123. Including Other & Elisions of -3€mn in 1Q11 and 0€mn in 1Q12 41
  43. 43. Enel SpA 1Q2012 results - Financial annexes Investor Relations Other1 - Continued €mn € 1Q11 1Q12 % EBIT2 (16) 15 n.m. Holding H ldi (19) (9) -52.6 52 6 Services & other 12 32 +166.7 Engineering & Innovation (2) (3) +50.0 Upstream (4) (5) +25.0 Capex 4 75 +1,775 Holding 1 0 n.m. Services & other 3 10 +233.3 Engineering & Innovation 0 0 - Upstream 0 65 n.m. (3) Headcount 6,502 6,486 -0.2 Holding 873 863 -1.1 Services & other 4,245 4,257 +0.3 Engineering & Innovation 1,327 1,307 -1.5 p Upstream 57 59 +3.51. Including Services & Holding, Engineering & Innovation, upstream gas and nuclear activities2. Including Other & Elisions of -3€mn in 1Q11 and 0€mn in 1Q123. As of December 31st, 2011 42
  44. 44. Enel SpA 1Q2012 results - Financial annexes Investor Relations EBIT by business area (€mn) -4.4% 3,036 2,902 , 299 15 266 -11.0% 1,152 , Other Oth 1 1,172 +1.7% EGP Iberia & Latam International 294 335 +13.9% +13 9% I&N Market 759 G&EM 724 -4.6% 122 94 -23.0% 426 296 -30.5% -16 1Q11 1Q121. Including Services & Holding, Engineering & Innovation, upstream gas and nuclear activities 43
  45. 45. Enel SpA Investor Relations DisclaimerThis presentation may contain certain statements that are neither reportedfinancial results nor other historical information (“forward-lookingstatements”). These forward-looking statements are based on Enel S.p.A.’scurrent expectations and projections about future events. Because theseforward-looking statements are subject to risks and uncertainties, actual futureresults may differ materially from those expressed in or implied by thesestatements due to any number of different factors, many of which are beyondthe ability of Enel S p A to control or estimate precisely, including changes in S.p.A. preciselythe regulatory environment, future market developments, fluctuations in theprice and availability of fuel and other risks. You are cautioned not to placeundue reliance on the forward-looking statements contained herein, which aremade only as of th date of this presentation. Enel S A d d l f the d t f thi t ti E l S.p.A. does not undertake t d t kany obligation to publicly release any revisions to any forward-lookingstatements to reflect events or circumstances after the date of this presentation.PursuantP s ant to art. 154-BIS, par. 2 of the Unified Financial Act of Feb a 24, a t 154 BIS pa 2, February 241998, the executive in charge of preparing the corporate accounting documentsat Enel, Luigi Ferraris, declares that the accounting information contained hereincorrespond to document results, books and accounting records. 44
  46. 46. Enel SpA Investor RelationsContact us Investor Relations Team (investor.relations@enel.com) (investor relations@enel com) • Luca Torchia (Head of IR) +39 06 8305 3437 • Pedro Cañamero (Equity IR) +39 06 8305 5292 • Elisabetta Ghezzi (Fixed income IR) +39 06 8305 2708 • Matteo Cavadini (Staff) +39 06 8305 2326 • Marco Donati (Staff) +39 06 8305 9252 • Federica Dori (Staff) +39 06 8305 7975 • Federica Todaro (Staff) +39 06 8305 9502 Visit our website at: www.enel.com (Investor Relations) 45

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