Business

Enel employees 73,702 people, who operate a highly diversified number of power plants for hydroelectric, thermoelectric, nuclear, geothermal, windandphotovoltaicpower generation.
Revenues in 2012 were 84,889 million euros, an increase of 5,375 million euros (+6.8%) on 2011 levels. EBITDA amounted to 16,738 million euros in 2012, down 867 million euros (-4.9%) from 2011. EBIT was 7,735 million euros in 2012, a 31.4% decrease compared with 2011 (11,278 million euros), taking into account a 2,676 million euro-increase in depreciation, amortization and impairment losses. Excluding the impairment losses recognised in 2012 on the goodwill allocated to certain Cash-Generating Units (totalling 2,584 million euros), EBIT declined by 959 million euros (-8.5%). Group net income was 865 million euros in 2012, compared with 4,113 million euros in 2011 (-79.0%). Group net ordinary income amounted to 3,455 million euros in 2012, down 606 million euros (-14.9%) from the 4,061 million euros reported in 2011. Net capital employed, including net assets held for sale of 309 million euros, amounted to 96,106 million euros as of December 31st, 2012, and was financed by total shareholders' equity of 53,158 million euros and net financial debt of 42,948 million euros. Net financial debt as of December 31st, 2012 came to 42,948 million euros, down 1,681 million euros from December 31st, 2011. More specifically, cash flow from operations and the disposal of a number of non-strategic assets were partially offset by capital expenditure in the period and the payment of dividends. As of December 31st, 2012, the debt/equity ratio came to 0.81 (0.82 as of December 31st, 2011), while the debt/EBITDA ratio was 2.6 (2.5 as of December 31st, 2011). Capital expenditure amounted to 7,075 million euros in 2012 (of which 6,436 million regarded property, plant and equipment), a decrease of 409 million euros from 2011.
Enel was the first company in the world to replace all of its national customers’ traditional electromechanical meters with modern electronic devices that allow real time monitoring and remote contract management.
This innovation has allowed us to offer tariffs that vary according to the time of day, with savings in evening hours and on weekends, becoming once more a benchmark for several utilities worldwide.

Data as of: December 31, 2012

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