With five business areas organised on the basis of different technologies and four geographical areas that sharpen focus on the characteristics of individual markets, the Enel Group's new glocal organisational structure follows a matrix model that was conceived as a way of better satisfying energy needs and gaining value from all of its business activities.
Enel is the largest private distribution energy company in the world, with 61 million customers in eight regions around the world and 90 gigawatts of installed traditional capacity, plus the renewable energy capacity that in 2014 alone grew by 700 megawatts. Governing the growth of a Group that operates in mature and emerging markets with a diversified plant portfolio requires careful business management, sound cost control that strengthens cash flow and the simplification of the corporate control chain, which optimises investments, improves efficiency and make resources available for growth.
The commitment for the reduction of the debt is also reflected in Enel's new organisation and is part of action already taken by the Group. 'What we said when the results of the first nine months of 2014 were presented is that we had a 44 billion debt at the end of September that will fall below 40 billion at the end of the year,' said Enel CEO Francesco Starace during his recent interview with Italian daily Il Sole 24 Ore. 'When compared to EBITDA that is not an extraordinary figure. What we have done is give priority to the sale of 22 percent of Endesa, which has brought in €3.1 billion and is connected with the separation of Latin American activities from Spain. Now we can face divestment in Slovakia and Romania in a stronger position vis-à-vis those presenting offers.'