Definitions

enlay

Enel

Enel (Ente Nazionale per l'energia ELettrica) is an Italian energy provider and the third largest energy provider in the world. Formerly a state-owned monopoly, it is now partially privatised with Italian government control. Annual revenue is €38.153 billion.

Its stock is traded on the Milan Stock Exchange under the symbol 'Enel'. In late 2007, Enel began formal proceedings to delist its American Depositary Receipts from the New York Stock Exchange. The formerly sponsored depositary receipts represented five shares of ordinary stock, each, and the now unsponsored ADRs trade OTC (over the counter) in the US with very light trading volume under the symbol 'ENLAY', representing one share of ordinary stock, each. (While on the NYSE and traded as a sponsored ADR, its stock formerly traded under the symbol 'EN'.) Dividend yield is currently around 19% (2008).

Company profile

Enel is Italy’s largest power company, and Europe’s third-largest listed utility by market capitalization. Listed on the Milan stock exchange since 1999, Enel has the largest number of shareholders of any European company, at some 2.3 million. It has a market capitalisation of about EUR 50 billion at current prices. In 2007 it acquired 67.05% of Spain's main energy provider Endesa.

Business overview

Enel produces and sells electricity mostly in Europe, North and Latin America. In the power business, Enel has 50,776 megawatts (MW) of generating capacity and has 32 million electricity customers. Enel is also the second-largest Italian distributor and vendor of natural gas, with over 2.3 million customers and a 12 % market share.

Enel still controls most of the low voltage wires in Italy but due to the Decreto Bersani has been forced to create Terna in 1999 and sell it on, keeping only around 5% of it in 2008. Terna owns about 90% of the voltage wires in Italy.

In the first week of March 2008, Enel has begun building the world's first hydrogen-powered thermal powerplant near Venice. The hydrogen will be harnessed from the byproducts of the nearby oil refinery of Porto Marghera. The projected output is in the megawatt range.

Enel: 2006 results

Revenues: €38,513 million, (€33,787 million in 2005, +14.0%).

Ebitda: €8,019 million, (€7,745 million in 2005, +3.5%); net of a provision of about €400 million for an operating excellence plan, in 2006 Ebitda rose by 8.7% compared with 2005.

Ebit: €5,819 million (€5,538 million in 2005, +5.1%)

Group net income: €3,036 million,(€3,895 million in 2005, - 22.1% Net of Wind and Terna contribution, 2006 Group net income grew 1.4% compared to 2005).

Net financial debt: €11,690 million (€12,312 million at 31 December 2005, -5.1%).

Total dividend proposed for the full year 2006 of €0.49 per share (of which €0,20 per share already paid out as interim dividend in November 2006)

Guidelines for the stock option plans for 2007 approved

References

External links

  • enel.it
  • enel.com
  • Nuclear energy in Italy from the Uranium Information Centre.
  • Energytrends page on Italy.
  • Press release about Enel purchasing GE wind turbines.
  • Enel Park on Second Life.
  • Enel international investment in new nuclear capacity:
    • http://www.world-nuclear.org/nb/nb05/nb0522.htm#nb05.22-11
    • http://www.world-nuclear.org/nb/nb05/nb0521.htm#nb05.21-13
    • http://www.world-nuclear.org/nb/nb04/nb0402.htm#nb04.02-16
    • http://www.world-nuclear.org/nb/nb05/nb0533.htm#nb05.33-7
    • http://www.seas.sk/public-relations/standpoint-to-the-investment-2.html
    • http://www.seas.sk/public-relations/hydroturbo-2006-en/13611.html
  • Enel building world's first hydrogen powerplant
    • http://www.finanzalive.com/notizie/enel-inaugura-il-cantiere-per-la-prima-centrale-a-idrogeno-mondiale/

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