This strategy accelerates on our goals trajectory,
the one that we’d started three years ago.
It accelerates based on renewables,
where we have an established presence and a leadership that is recognised everywhere
and it restarts with a renewed focus on infrastructure networks and customers.
We are number one in renewables,
number one as private and network operators,
and really we are living edge in terms of technology and innovation
and so I do believe that we can confirm a strong commitment
to a sustainable growth.
We are the enabler for a modern economy, a modern society.
Around this concept we are building our sustainability approach,
in which we are at the centre of a development
that, at the same time, provides a service that is the power, the energy we deliver
but also an opportunity for social-economical development.
Sustainability is the way to have a long-term sustainable business.
This year we are increasing investments in renewables.
The second important change is on Enel X,
in which we have (insert) a position
towards a leadership in the urban infrastructure.
Enel X plan for the next three years is very simple.
We need to focus on mainly three things.
One is urban infrastructure,
the second one is energy as a service;
basically what we are trying to do is to reduce the cost of energy for our customers
and reduce the CO2 impact on the way they use energy,
and the third one is flexibility in general.
Enel has become a more sustainable, efficient and profitable player.
Renewables, infrastructures and new energy services are the key pillars
and the key elements of Enel strategy.
We have the aim to support the industrial growth and also the operational efficiency.
On the assets side we are trying to optimise the generation of cash,
mainly based on the analytics and on the predictive maintenance.
80% of our investments are related to digitalisation,
starting from smart meters in Latin America, smart meters in Romania,
they’re building up the digital architecture of our network
being able to serve our customers with a better quality.
Centricity of our customers is reinforced in this plan
and we want to serve them in the best way possible,
being really close to their needs on a 360 basis
and the products that we are developing are really customised
and made, and tailor-made, on our customer base.
Very impressive the focus on organic growth,
increased capex, a very good point for us,
and in particular the indication of the run-rate
of 8 billion capex at the end of this plan,
very reassuring message on the dividends as well,
with the new dividend floor introduced for the next three years.
If you mix this EBITDA with a strong cash generation
you see the reason why we can afford a very attractive
dividend policy over the next three years period.
We project an acceleration of growth
in the three years and a progressive de-risking of our activities,
so with the dividend that we have promised you,
you have a guaranteed return that is in excess of 7%
on top of what the value appreciation of the share can be.
So, find me something that matches that and then, otherwise, invest.