Enel - Etat De l'Existant

ndesa is the leading private electricity multinational in Latin America and the largest electric utility in Chile, Argentina, Colombia and Peru. It supplies electricity to five of the region’s six largest cities (Buenos Aires, Bogota, Santiago, Lima and Rio de Janeiro), it owns the CIEN interconnection line between Argentina and Brazil, and has a stake in the SIEPAC electricity interconnection system that will link six Central American countries.

Endesa's strategy in Latin America is to build up a broad business platform which will allow it to leverage the huge potential for growth and profitability the region offers. Its investments reflect a determination to build a long-term presence there, working in collaboration with national authorities and within existing regulatory frameworks, with the aim of providing the best electricity service possible to its customers.

Other information:

Endesa’s investees had 15,835 MW of installed capacity in 2010.

62,416 GWh of power sold.

13.3 million customers

Spain

Endesa is not only Spain’s leading electric utility; it is also the second largest operator in the Portuguese electricity market.

Its electricity output in Spain and Portugal (which also includes the other businesses in Europe and Morocco) amounted to 68,069 GWh in 2010, 66,299 GWh of which corresponded to Spain, 750 GWh to Portugal and 1,020 GWh to the rest of the segment.

Of the mainland output of 2,042 GWh in 2010, 51,583 GWh was generated under the ordinary regime in Spain, which represents a decrease of 4.5%.

Meanwhile, Endesa’s mainland output under the special regime amounted to 459 GWh, having fallen by 82.5% due to the sale of renewable energy assets to the Acciona Group in June 2009 and to EGP in March 2010.

In total, the company’s non-mainland output rose by 1.6% from 2009 to 14,257 GWh.

Endesa holds a 38.9% stake in Tejo Energía, the owner of the Pego coal-fired power station. This 628-MW facility is one of the largest in the country and has long-term contracts to sell its electricity to the Portuguese network. It generates approximately 6.1% of the total electricity consumed in Portugal.

Endesa and International Power also each hold 50% of an 840-MW combined cycle power plant in el Tajo near Abrantes. This facility has a production capacity equivalent to 8-10% of Portugal’s total electricity consumption.

Finally, Endesa continues to develop the Girabolhos hydroelectric plant located on the Montego River in central Portugal. The 65-year concession to exploit this resource was awarded at the end of 2008. This project is the second largest of the Portuguese government’s Dam Plan, and ranks among the country’s ten most important projects. On completion, it will boast a capacity of close to 360 MW.

Electricity generation and sales, FY10

Output Sales

GWh % change 2009 GWh % change 2009

Spain, Portugal and Other 68069 -8,4 107942 1,6

At 2010 year end, 91% of Endesa Spain and Portugal’s installed thermal power capacity and all its hydroelectric and nuclear power stations, ports, mines and distribution facilities were ISO 14001 certified.

More about Spain ➪ http://www.endesa.com/en/aboutEndesa/businessLines/Electricity/Paginas/SpainAndPortugal.aspx

Autres informations récentes :

Endesa (groupe Enel) T3: le bénéfice en hausse de plus de 15,4% à 695M€

http://www.romandie.com/news/n/Endesa_groupe_Enel_T3_le_benefice_en_hausse_de_plus_de_154_a

_695_mio_EUR081120110911.asp

Madrid (awp/afp) - Le producteur d'électricité espagnol Endesa, filiale du groupe italien Enel, a publié mardi un bénéfice net pour le troisième trimestre en hausse de 15,4% à 695 millions d'euros, profitant de son activité en Amérique Latine face à la faiblesse du marché espagnol.

Le groupe, qui a aussi réalisé un chiffre d'affaires de 8,410 milliards au troisième trimestre, en hausse de 7%, ne fournit pas d'explications sur ses résultats trimestriels mais seulement sur ceux réalisés sur neuf mois.

Endesa précise ainsi que son résultat net sur neuf mois a plongé de 27,3% à 1,978 milliard d'euros, car sur la même période de 2010 le groupe avait profité d'une plus-value de 881 millions d'euros grâce à l'intégration de son activité d'énergies renouvelables dans Enel. Sans cet effet, le bénéfice aurait progressé de 2,8%.

Endesa souffre aussi du ralentissement de la demande des petites entreprises et des particuliers en Espagne.

A l'inverse, l'Amérique Latine démontre "une croissance solide, surtout au Chili, au Pérou et en Argentine", souligne le groupe.

Son excédent brut d'exploitation (Ebitda) a légèrement reculé (-0,2%) au troisième trimestre sur un an, à 1,956 milliard d'euros tandis que sur les neuf premiers mois la baisse est plus prononcée, de 6,2% à 5,449 milliards.

Endesa avait fait l'objet d'une bataille pour son contrôle entre groupes énergétiques européens entre 2005 et 2007. Le groupe était finalement passé sous le contrôle commun d'Enel et du groupe espagnol Acciona mais a dû se défaire de ses actifs européens au profit de l'alleman EON.

En 2009, Acciona et Enel ont mis fin à leur alliance au sein du groupe, le premier cédant sa part mais emportant des actifs d'énergies renouvelables, laissant Enel seul aux manettes.

Financial Times about Endesa (Nov. 8)

http://www.ft.com/intl/cms/s/0/3a3558d8-09eb-11e1-8d46-00144feabdc0.html#axzz1dDXMWx7h

Endesa profits hit as disposals slow down

By Miles Johnson

Endesa, the Spanish utility group controlled by Italy’s Enel, saw its earnings drop by over a quarter for the first nine months of the year as the pace of a string of asset disposals designed to slash its debt slowed.

In 2009 Enel won 92 per cent control of Endesa, once a Spanish national energy champion, in a deal that valued the company at €42bn, with the Spanish company retaining a highly illiquid but symbolic listing on the Madrid stock exchange.

As part of a strategy to cut net debts that stood at €51bn in 2009, Enel began a series of asset sales, which included selling 80 per cent of its Spanish gas distribution network to funds controlled by Goldman Sachs for €800m last year.

Stripping out cash generated by disposals, Endesa saw its net profit for the first nine months fall by 27 per cent year on year to €1.97bn, while overall revenues rose by 7 per cent to €24.6bn.

In Spain power demand was lower over the period as a result of slowing usage by residential and small and medium businesses, with overall demand falling by 0.1 per cent compared to last year.

Total power output for the first nine months of the year was 102,603 gigawatt hours, up 4.9 per cent over the period, while electricity sales increased by 1.2 per cent on the same basis.

Earnings before interest, taxation, amortisation and depreciation fell by 6.2 per cent to €5.44bn, partly due the absence of €189m of asset sales made in the first nine months of last year.

Endesa’s ebitda was also hit by a €109m charge at the group’s Colombian subsidiary due to the country’s wealth taxation rules for companies. Average power prices in Spain, as measured by the cost of a megawatt hour, rose by 41 per cent over the nine months due to a drop in hydroelectricity output and the rise in fuel prices seen since 2010.

The drop in demand in Spain contrasted with an average increase in demand of 3.9 per cent in Endesa’s Latin American divisions, with demand in Brazil up by 3.3 per cent, and up 5.4 per cent in Argentina.

Overall group net debt to equity fell from 0.7 times as of the end of last year to 0.5 times.

Endesa shares rose by 0.3 per cent to €16.97.

Résumé Situation fi au 19/10/2011

Enel lève avec succès 2,25MM€

Enel, le groupe italien actif dans le secteur de l'énergie, a procédé, avec succès, au placement de deux emprunts obligataires. Le carnet d’ordres s’élevait à 12 milliards d’euros, pour un total émis de 2,25 milliards, ventilé sur deux échéances.

La première tranche, d’une taille de 1,25 milliard d’euros, a une maturité égale au 24 juin 2015. Le prix d’émission est de 99,805%, soit un rendement de 4,66% compte tenu d’un coupon de 4,625%.

La seconde tranche, d’un milliard d’euros, arrive à échéance le 24 octobre 2018. Le coupon est de 5,75%. Le prix d’émission est de 99,338%, soit un rendement de 5,87% compte tenu d’un coupon de 5,75%.

Les nouvelles obligations sont émises par Enel Finance International N.V, une filiale de Enel S.p.A. Enel S.p.A. est noté A- par Standard & Poor’s (S&P), A3 par