PRTODAY / NewswireToday Free press release distribution service network

More news: Energy
Written by / Agency / Source: Enel Group

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

Enel Announces Preliminary Consolidated Results for 2010 - The Board of Directors of Enel SpA, chaired by Piero Gnudi, met today to review the preliminary consolidated results for 2010
Enel Announces Preliminary Consolidated Results for 2010

 

NewswireToday - /newswire/ - Rome, Italy, 2011/02/03 - The Board of Directors of Enel SpA, chaired by Piero Gnudi, met today to review the preliminary consolidated results for 2010. IT0003128367

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Energy Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Revenues: 73.4 billion euros (64.4 billion euros in 2009, +14.0%)(1)
EBITDA: 17.5 billion euros (16.4 billion euros in 2009, +6.7%)(1)
Net financial debt: 44.9 billion euros (50.9 billion euros in 2009, 11.8%);(1) 43.7 billion euros net of the impact of exchange rate differences associated with medium to long-term debt denominated in foreign currency.

Revenues were 73.4 billion euros, a 14.0% increase compared to 64.4 billion euros in 2009. This growth mainly reflects the increase in revenues from the sale of electricity on foreign markets as well as the change in the method used to consolidate Endesa (from proportionate to full line-by-line) as from the end of June 2009.

EBITDA was 17.5 billion euros, a 6.7% increase from the 16.4 billion euros recorded in 2009, mainly due to the growth in international operations, which also benefited from the above-mentioned full consolidation of Endesa’s results as from the end of June 2009.

Net financial debt at the end of 2010 was 44.9 billion euros, a decrease of about 6 billion euros from the 50.9 billion euros posted at the end of 2009. This significant decline was largely due to the effects of the asset disposals carried out in 2010 and the strong performance of operating cash flow. Excluding the impact of exchange rate differences, calculated at the exchange rates prevailing as at December 31st, 2009 on medium to long-term debt in foreign-currency outstanding at the end of the period, net financial debt at December 31st, 2010 would be equal to 43.7 billion euros.

Employees at the end of 2010 numbered 78,313 (81,208 at the end of 2009).

Commenting on the results, Enel's Chief Executive Officer and General Manager Fulvio Conti stated: “Once again in 2010 we fully delivered on our commitments to investors and exceeded the published targets. Notably, the completion of our disposal programme, along with the constant improvement in cash flow, the implementation of our efficiency measures and the streamlining of our investment plan, have enabled us to bring net consolidated financial debt below 45 billion euros before exchange rate differences. With an EBITDA of approximately 17.5 billion euros, consolidated ordinary net income for 2010 is expected to exceed the amount of 4 billion euros previously announced to investors.”

In 2010, the Enel Group (enel.com) generated 290.2 TWh of electricity (267.8 TWh in 2009), distributed 430.5 TWh over its own networks (393.7 TWh in 2009) and sold 309.0 TWh (287.7 TWh in 2009).

More specifically, outside Italy in 2010 the Enel Group generated 208.6 TWh of electricity (183.8 TWh in 2009), distributed 184.6 TWh (152.6 TWh in 2009) and sold 195.6 TWh (160.3 TWh in 2009).

These operating figures benefited from the full line-by-line consolidation of Endesa starting from the end of June 2009 and reflect the different scopes of consolidation resulting from disposals and acquisitions completed during the two periods compared.

Alternative performance indicators
The following section describes a number of "alternative performance indicators", not foreseen under the IFRS-EU accounting standards, which are used in this press release in order to facilitate the assessment of the Group’s performance and financial position.

- EBITDA: an indicator of Enel’s operating performance, calculated as “Operating income” plus “Depreciation, amortisation and impairment losses”;
- Net financial debt: an indicator of Enel’s financial structure, calculated as financial debt net of cash and cash equivalents and current and non-current financial assets (financial receivables and securities other than equity investments).

Pursuant to Article 154-bis, paragraph 2, of the Unified Financial Act, the executive in charge of preparing the corporate accounting documents at Enel, Luigi Ferraris, declares that the accounting information contained in this press release corresponds to document results, books and accounting records.

(1) Following the completion on June 25th, 2009, of the acquisition by the subsidiary Enel Energy Europe Srl of 25.01% of the share capital of Endesa, Enel gained full control of Endesa and as from that date has consolidated the company on a line-by-line basis rather than proportionately. In addition, the prospective application as from July 1st, 2009, by the Enel Group, of the interpretations of IFRIC 18 concerning accounting policies governing the transfers of assets from customers, led to the restatement of the income statement figures for 2009 presented in this press release for comparative purposes only.

The balance sheet figures exclude assets and liabilities held for sale. In particular, the assets and liabilities held for sale at December 31st, 2010 essentially regard (i) certain Endesa assets located in Ireland and Latin America that meet the requirements of IFRS 5 due to decisions made by management, (ii) the assets of Enel Unión Fenosa Renovables that will be divested under the agreement with Gas Natural and (iii) the assets of Enel Group’s Bulgarian companies. The income statement figures for 2009 do not include results which were classified as discontinued operations.

This press release uses a number of “alternative performance indicators” not envisaged in the IFRS-EU accounting standards (EBITDA and net financial debt). In accordance with recommendation CESR/05-178b published on November 3rd, 2005, the criteria used to calculate these indicators are described at the end of the release

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Energy Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: Enel Group

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick Newswire Today Visibility Checker

 

Distribution / Indexing: [+] / [Company listed above is a registered member of our network. Content made possible by PRZOOM / PRTODAY indexing services]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Energy articles,
CATCH Visitors via Your Competitors Announcements!


Enel Announces Preliminary Consolidated Results for 2010

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name Newswire Today and LINK as the source.
 
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

Enel Green Power |
Publisher Contact: Enel Group - Enel.com 
+39.06.8305.1 ufficiostampa[.]enel.com
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Enel Group securities in any jurisdiction including any other companies listed or named in this release.

Energy via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From Enel Group / Company Profile


Read Energy Most Recent Related Newswires:

ENGIE and Schneider Electric Collaborate to Digitize the Energy Sector
ENGIE, Sigfox and UnaBiz Announce Nationwide IoT Network Rollout in Singapore
GE Renewable Energy to Equip First Commercial U.S. Integrated Solar-Wind Hybrid Project
GE’s Gas Engine Technology Provides Cost-Effective, Grid-Stability Solution for Cameroon Poultry Hatchery
Venture Global LNG Selects GE Oil & Gas Advanced Technology Plant-wide Solution for LNG Export Facilities Under Development in Louisiana
SolarWinds Unveils the Next Generation of IT Troubleshooting at Cisco Live EMEA 2017
SolarWinds IT Management Platform Being Tested for Secure Government Deployment
World's First Purpose-built LNG Bunkering Vessel Delivered to ENGIE, Fluxys, Mitsubishi Corporation and NYK
Enel Closes Acquisition of Brazilian Distribution Company CELG
SolarWinds IT Management Platform Achieves Common Criteria Certification
GE & HEI Achieve Major Milestone with First Fire of HA Gas Turbine At Bhikki Power Plant
Aluminium of Greece Collaborates with GE to Drive Efficiency Using Predix*-based First-of-their-kind Digital Smelter Solutions
Enel Green Power Gives Renewable Energy to New Paediatric Surgery Hospital in Uganda
GE Inaugurates Redhill (Stafford) Manufacturing Facility, UK
Turkey's First Digital Power Plant Powered by GE & GAMA Energ

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  JobsWare.com

Visit  La Bella Bakery Artisan Bakery Arizona





 
  ©2017 Newswire Today — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (usatoday.com)