Revenues for 2008 benefited from the proportional consolidation at 67.05% of Endesa’s results for the whole year, whereas in 2007 they were consolidated only for the last quarter of the year.
Increase in EBITDA mainly due to the proportional consolidation at 67.05% of Endesa’s results for the whole year, whereas in 2007 they were consolidated only for the last quarter of the year.
Net financial debt at the end of 2008 was about 50 billion euros, down about 5.8 billion euros from the end of 2007. This decrease mainly reflects the completion of the sale to E.On of assets related to Endesa Europa and Viesgo, slightly offset by resources used to complete acquisitions during the course of 2008.
Employees at the end of 2008 were 75,985 (73,500 at the end of 2007).
In 2008, the Enel Group generated a total of 253.1 TWh of electricity (153.5 TWh in 2007), distributed 393.5 TWh over its own networks (302.3 TWh in 2007) and sold 270.4 TWh (196.3 TWh in 2007).
In particular, outside of Italy, the Enel Group generated 156.8 TWh of electricity (59.3 TWh in 2007), distributed 135.6 TWh (43.3 TWh in 2007) and sold 133.2 TWh (53.9 TWh in 2007).
The operational data reflect the positive impact of the proportional consolidation at 67.05% of Endesa for the whole of 2008, compared with the previous year during which only the last quarter of 2007 was consolidated. Moreover, electricity generation results benefited from the consolidation of OGK-5 as from June 2008.
Commenting on the figures, Enel’s chief executive officer Fulvio Conti said: The excellent results in 2008 confirm the soundness of our strategy that has made the Group one of the world’s main energy operators. Our debt has been reduced to 50 billion euros, inline with the goal set previously and down nearly 6 billion euros from the previous year. Furthermore, we expect to maintain a dividend of 49 cents per share on 2008 reported earnings.”
