1Q 2018 consolidated results. May 9, 2018

Transcription

1 1Q 2018 consolidated results May 9, 2018

2 Highlights Ordinary EBITDA +4% driven by renewables and retail Net income increase 10% on operating dynamics and active liability management Industrial growth ~130 mn growth EBITDA in 1Q growth EBITDA almost entirely secured Operational efficiency Group simplification & APM Opex reduced by 2.6% on continued efforts on efficiency Cash costs flat in nominal terms Chile restructuring successfully completed Sustainable long-term value creation Introduction of CO 2 related target in management LTI 1 1. Long Term Incentive 1

3 Main drivers of the quarter vs. 1Q 2017 Business performance ( mn) EBITDA impact Macro scenario ( mn) EBITDA impact Renewables and networks growth 130 FX (147) Retail margin improvement ~130 Thermal generation volumes ~(75) Improved resource availability ~70 Price dynamics ~(50) Regulatory review in South America ~120 Inflation ~(45) EBITDA: ~ 450 mn EBITDA: ~ (320) mn Business performance offset negative scenario on currencies 2

4 Q 2018 consolidated results Industrial growth: capex Total capex 1 ( mn) Growth capex by business line ( mn) Capex addressed by business -5% -10% 1,453 1, % % % % 10.2 bn 62% 2018E 100% 2019E 70% % Q Q % 225 1Q Q % 1% 2020E 45% Connections Maintenance Growth Other Renewables Thermal generation Networks 70% of growth capex already in execution for Q 2018 figure includes 150 mn related to assets held for sale 3

5 4,00 0 3,50 0 3,00 0 2,50 0 2,00 0 1,50 0 1, , , , , , , , , Q 2018 consolidated results Operational efficiency ( mn) 1 Cash cost Opex evolution 1 -% -2.6% 2,476 2, ,127 2,072 2, (82) (72) 40 2,072 1Q Q Q 2017 CPI Forex Growth Perimeter Efficiency 1Q 2018 Opex Maintenance capex IFRS 15 Continued opex reduction 1. In nominal terms, rounded figures. 1Q 2017 adjusted figures: excludes +60 mn one-offs 4

6 Group simplification & active portfolio management Previous structure Final structure Merger of Enel Chile with EGP Chile Cash and stock PTO by Enel Chile on EGC 100.0% Latin America 60.6% 61.9% Total PTO acceptance: c.a. 84% 1.7 US$ bn cash out for the whole transaction % 60.0% Chile 99.1% 100.0% Chile 93.5% 99.1% Stake in EC increased by 1.3 p.p. Enel economic interest 3 up to 58.3% from 48.9% Generación Chile Distribución Chile Generación Chile Distribución Chile Integrated management of renewable and thermal generation Chilean reorganization completed 1. Enel Green Power Latin America (holding company of EGP assets in Chile) 2. Including withdrawal rights in EC 3. Calculated based on net income excluding interest costs of the transaction 5

7 Sustainable long-term value creation Climate change and TCFD 1 guidelines Management long-term remuneration Risk/opportunity deriving from non financial information related to the climate change 2015 Paris agreement sets a «well below 2 C» target by the end of century TCFD voluntary guidelines released mid-2017 Implementation support letter signed by both Enel s CEO and CFO Enel has a strong set of non-financial targets, including a science-based CO 2 emissions reduction one equal to <350 gco 2 /KWh eq Multidisciplinary working group set up to assess reference scenarios to be adopted at Enel level Strong commitment to low-carbon strategy corroborated by introduction of a climate change related target in LTI 3 plan 2018 with a weight equal to 10% Low carbon future economically beneficial 1. Task Force on Climate-related Financial Disclosure 2. By 2020 vs Long Term Incentive 6

8 Enel X Main financials ( mn) Positioning ( mn) Key highlights Revenues Gross margin e-industry Italy Revenues: ~90 Europe & North Africa Revenues: ~4 Completed integration of acquired entities e-city e-home e-mobility North & Central America Revenues: ~20 South America Revenues: ~32 Iberia Revenues: ~63 Sub Saharan Africa and Asia Revenues: ~8 Cross fertilization of existing businesses Development of e-mobility infrastructure Global leadership in demand response On track to deliver EBITDA contribution of 0.8 bn in

9 Financial results

10 Financial highlights ( mn) 1Q Q 2017 yoy Net of FX Revenues 18,946 19,366-2% Reported EBITDA 4,037 3,914 +3% Ordinary EBITDA 1 3,909 3,763 +4% +7.8% Reported EBIT 2,538 2,525 +1% Ordinary EBIT 2,410 2,374 +2% Reported Group net income 1, % Group net ordinary income 2 1, % +13.7% Capex 3 1,379 1,453-5% Net debt 37,871 37, % FFO 1,898 1,740 +9% 1. Excludes extraordinary items for 151 mn in 1Q 2017 and for 128 mn in 2018 and includes -73 mn one-offs in 1Q Includes -16 mn one-offs in 1Q 2017 and +80 mn in 1Q Q 2018 figure includes 150 mn capex related to asset held for sale 4. As of December

11 Q 2018 consolidated results Ordinary EBITDA evolution ( mn) +4% +2% (147) (4) 3,763 3,836 3, ,909 +7% Net of FX and perimeter 1Q 2017 ordinary 1 One-offs 1Q 2017 adjusted Growth Efficiency Scenario & margin Forex Perimeter 1Q 2018 adjusted One-offs 1Q 2018 ordinary 1. Includes -60 mn for personnel provisions for CELG, -33 mn for penalties revaluation in Argentina, +20 mn for islands settlement in Iberia 10

12 Q 2018 consolidated results Adjusted EBITDA by business ( mn) +2% Retail 710 mn Renewables 932 mn Generation 441 mn Networks 1,802 mn 3,836 1Q 2017 adjusted (8) (104) 148 Global Infrastructure & Networks Global Thermal Generation & Trading Global Renewable Energies Retail Enel X Services & holding 47 (147) (4) 3,909 Forex Perimeter 1Q 2018 adjusted Retail 835 mn Renewables 1,030 mn Generation 286 mn Networks 1,721 mn 11

13 Q 2018 consolidated results Global Renewable Energies: ordinary EBITDA analysis ( mn) +10.5% (54) 1, % (Net of forex) 1Q 2017 ordinary Growth Efficiency Scenario & prices Perimeter Forex 1Q 2018 ordinary 12

14 Q 2018 consolidated results Adjusted EBITDA by geography ( mn) Italy 1,947 mn Iberia 674 mn Latam 1,029 mn Europe & North Africa 144 mn North & Central America 113 mn Sub-Saharan Africa & Asia 12 mn 3,836 1Q 2017 adjusted (132) (7) (147) (4) Italy Iberia South America Europe & North Africa +2% North & Central America Subsaha. Africa & Asia 3,909 Other Forex Perimeter 1Q 2018 adjusted Italy 1,815 mn Iberia 859 mn Latam 1,012 mn Europe & North Africa 126 mn North & Central America 121 mn Sub-Saharan Africa & Asia 13 mn 13

15 Q 2018 consolidated results Italy: ordinary EBITDA analysis by business ( mn) -7% Retail 641 mn Renewables 269 mn 1,947 (35) (163) ,815 Retail 668 mn Renewables 301 mn Generation 155 mn Generation -8 mn Networks 863 mn Networks 828 mn 1Q 2017 ordinary 1 Infrastructure & Networks Thermal Generation & Trading Retail Renewables Enel X Other 1Q 2018 ordinary 1. Restated figure 14

16 Q 2018 consolidated results Italian retail market Power unitary margin ( /MWh) -9% Ordinary EBITDA ( mn) Free market energy sold (TWh) % +14% Free Regulated Q Q 2018 B2C B2B % % Q Q Q Q 2018 Cost-to-serve ( /customer) -% Free power customers (mn) FY 2017 LTM 15

17 From ordinary EBITDA to net ordinary income ( mn) 1,499 3,909 2, , ,041 Ordinary EBITDA D&A EBIT Financial expenses & other 1 EBT Income taxes Minorities Group net ordinary income 1Q 2017 ( bn) 3.7 (1.4) 2.4 (0.6) 1.7 (0.5) Change YoY +4% +8% +2% -14% +7% -13% (0.3) +42% % Ordinary net income up double digit 1. Includes other financial expenses (-65 mn in 1Q 2017, -17 mn in 1Q 2018) and results from equity investments (+39 mn in 1Q 2017, +37 mn in 1Q 2018) 16

18 4,00 0 3,00 0 2,00 0 1, ,000-2,000 1Q 2018 consolidated results Cash flow ( mn) 3,909 (370) (1,202) 6 (445) (1,379) 1, (1,390) 10 (725) Ordinary EBITDA Provisions 1 Working capital & other Income taxes Financial expenses 2 3 FFO Capex BSO Capex HFS Free cash flow Dividends paid Active portfolio management Net free cash flow 1Q 17 ( bn) 3.8 (0.3) (1.0) (0.0) (0.7) 1.7 (1.5) 0.3 (1.3) (0.8) (1.8) Delta YoY +4% +30% +14% -28% -33% +9% -5% +133% +18% n.m. +60% Outstanding FFO generation on growth, reduction in financial charges and taxes 1. Accruals, releases, utilizations of provisions in EBITDA (i.e. personnel related and risks and charges) 2. Includes dividends received from equity investments 3. Funds from operations 17

19 Debt and financial expenses ( mn) Gross and net debt Net debt evolution +1.6% 51,332 52,164 7,020 4,984 6,902 9,309 37,410 1 ( 95 ) 735 (10) (169) 37,871 37,410 37,871 FY Q 2018 Net debt Financial receivables Cash Dec 31, 2017 continuing operations IFRS 9 Free cash flow after dividends Active portfolio management Forex Q continuing operations Financial expenses: 551 mn (-47 mn YoY) Cost of gross debt: 4.5% (-0.2 p.p. vs 2017) Decline in interest charges thanks to liabilities management 1. Restated figure according to IFRS 9 18

20 Closing remarks Negative impact of currencies more than offset by business actions Increased EBITDA on the back of renewables and networks growth Continued delivery on operational efficiency FFO generation driven by growth and liability management Delivery of 2018 financial targets on track, guidance confirmed 19

21 1Q 2018 consolidated results Annexes

22 Q 2018 consolidated results Industrial growth: operational targets by business Total capacity (GW) 1 Net production (TWh) 2 +4% Q Q 2018 Renewable Managed Thermal 46% emission free 50% emission free 11% 22% TWh 28% 16% 13% 10% 10% 25% 24% TWh 16% 10% 15% Hydro Renewables Oil & Gas CCGT Coal Nuclear Networks Retail Electricity distributed (TWh) +2% Q Q Includes nuclear capacity 2. Includes production from renewable managed capacity 3. Includes only power and free gas customers Smart Meters (mn) End Users (mn) 1Q Q Total energy sold (TWh) +1.3% Q Q 2018 Free cust. (mn) 3 Power sold Free market+ppas 1Q Q

23 -4.5% -3.5% -2.5% -1.5% -0.5% 0.5 % 1.5 % 2.5 % 3.5 % 4.5 % % % % % % % % % 0.0 0% % 1Q 2018 consolidated results Market context in the period (change yoy) Electricity demand Average spot power prices ( /MWh) Currencies vs. euro 1,2 Italy 1.7% Italy Spot price % USD/EUR 1% Spain Chile Colombia Brazil Argentina Peru 2.9% 3.9% 2.6% 0.4% 0.7% 1.9% Spain Chile Colombia Brazil Peru % -18% -1% -5% +39% CLP/EUR COP/EUR BRL/EUR ARS/EUR PEN/EUR -2% -7% -15% 0% 5% Russia 2.0% Russia % RUB/EUR -7% 1. Based on the average exchange rate 2. As of May 4, As of May 8,

24 Forward Sales Italy and Spain Italy 2018 Italy 2019 Spain TWh 5% 20% 40% 40% Expected production 90% Hedged production Price 1 Spread 2 Achieved 45 /MWh vs. Plan +2 /MWh Spain TWh 5% 10% 35% 55% Expected production 20% Hedged production Price 1 Spread 2 Achieved 49 /MWh vs. Plan ~ 0 /MWh Spread driven 75 TWh 30% 40% 30% Expected production Price driven Achieved Price 1 61 /MWh vs. Plan 100% Spread 2 +2 /MWh Hedged 3 production Regulated / almost regulated Spread driven 75 TWh 30% 45% 25% 50% Expected production Price driven Hedged 3 production Price 1 Spread 2 Achieved 68 /MWh vs. Plan ~ 0 /MWh Regulated / almost regulated 1. Average hedged price. Wholesale price for Italy, Retail price for Spain. 2. Average on clean spark spread and clean dark spread. 3. Includes only mainland production. 23

25 Q consolidated results Forward sales South America Chile Colombia 100% 95% 90% 100% 90% 80% Peru Brazil % 100% 100% 100% 100% 100% Hedged Production Unhedged Production - Average Price (USD/MWh) 24

26 From EBITDA to net income ( mn) 2018 reported 2017 reported yoy 2018 ordinary 2017 ordinary 1 yoy EBITDA 4,037 3, % 3,909 3, % D&A 1,499 1,389 1,499 1,389 EBIT 2,538 2, % 2,410 2, % Net financial charges (566) (664) (568) (664) Net income from equity investments using equity method EBT 2,009 1, % 1,879 1, % Income tax (481) (596) (479) (554) Net income 1,528 1,304 1,400 1,195 Minorities Group net income 1, % 1, % 25

27 Reported EBITDA matrix ( mn) Global Generation & Trading Global Infrastructures & Netw orns Services & Other Reported EBITDA Renew able Energies Retail e-solutions Total Total Italy (8) ,943 1,947 Iberia South America (18) (19) 1,012 1,087 Argentina Brazil (13) (9) Chile (5) (10) Colombia Peru Other Europe and North Africa (20) Romania (1) (20) Russia SlovaNia Other North & Central America (17) Africa & Asia Other Countries (10) (12) (15) - - (3) - (13) (69) (37) (83) Total ,849 1,709 1, (49) 4,037 3, Includes Belgium, Greece, France, Bulgaria. Belgium and France deconsolidated at end Includes Mexico, USA, Panama, Canada, Guatemala, Costa Rica 3. Includes South Africa, India 26

28 Ordinary 1 EBITDA matrix ( mn) Global Generation & Trading Global Infrastructures & Netw orns Renew able Energies Services & Other Ordinary EBITDA Retail e-solutions Total Total Italy (8) ,815 1,947 Iberia South America (18) (19) 1, Argentina Brazil (13) (9) Chile (5) (10) Colombia Peru Other Europe and North Africa (20) Romania (1) (20) Russia SlovaNia Other North & Central America (17) Africa & Asia Other Countries (10) (12) (15) - - (3) - (13) (69) (37) (83) Total ,721 1,709 1, (49) 3,909 3, Excludes extraordinary items for 151 mn in 1Q 2017 and for 128 mn in 1Q Includes Belgium, Greece, France, Bulgaria. Belgium and France deconsolidated at end Includes Mexico, USA, Panama, Canada, Guatemala, Costa Rica 4. Includes South Africa, India 27

29 EBITDA from Reported to Adjusted: breakdown by geography ( mn) 1Q 2018 Italy Iberia South America Europe & North Africa North & Central America Sub-Saharan Africa & Asia Reported 1, , (37) 4,037 Extraordinary items (128) (128) Ordinary 1, , (37) 3,909 One-offs Adjusted 1, , (37) 3,909 Other Total 1Q Italy Iberia South America Europe & North Africa North & Central America Sub-Saharan Africa & Asia Reported 1, , (83) 3,914 Extraordinary items - - (151) (151) Ordinary 1, (83) 3,763 One-offs - 20 (93) (73) Adjusted 1, , (83) 3,836 Other Total 1. 1Q2017 restated figures 28

30 EBITDA from Reported to Adjusted: breakdown by business line ( mn) 1Q 2018 Global Thermal Generation & Trading Global Infrastructure & Networks Global Renewable Energies Retail Enel X Services & Holding Reported 286 1,849 1, ,037 Extraordinary items (128) (128) Ordinary 286 1,721 1, ,909 One-offs Adjusted 286 1,721 1, ,909 Total 1Q Global Thermal Generation & Trading Global Infrastructure & Networks Global Renewable Energies Retail Enel X Services & Holding Reported 612 1, (49) 3,914 Extraordinary items (151) (151) Ordinary 461 1, (49) 3,763 One-offs 20 (93) (73) Adjusted 441 1, (49) 3,836 Total 1. 1Q2017 restated figures 29

31 2,10 0 1,60 0 1, (4 00) 2,10 0 1,60 0 1, (4 00) 1Q 2018 consolidated results Operational efficiency: opex ( mn) -5% -3% Personnel 2,187 (60) 2,127 1,118 1,058-15% 2, , External costs 1,224 1,224-4% 1,174 1,174 1Q 2017 Reported 1 One-offs 1Q 2017 Adjusted 1Q 2018 Adjusted One-offs 1Q 2018 Reported 1. Includes delta provisions 30

32 Forward sales South America Chile Colombia 100% 95% 90% 100% 90% 80% Peru Brazil % 100% 100% 100% 100% 100% Hedged Production Unhedged Production - Average Price (USD/MWh) 31

33 Gross debt 1 structure Long term debt by currency After swap Interest rate composition Long term credit ratings 50% 81% 28% Standard & Poors Rating BBB+ Outlook Stable 10% 4% 3% 2% 49.5 bn 3% 28% 2% 4% 2% 5% 6% 49.5 bn 52.9 bn 72% Moody s Fitch Baa2 BBB+ Stable Stable EUR USD BRL CLP EUR USD BRL Floating Fixed + Hedged COP Other GBP CLP COP Other 1. In nominal terms 32

34 Debt structure by instrument ( bn) Debt by instrument Enel Spa EFI Central Others Italy Iberia South America North & Central America Europe & North Africa Sub-Saharan Africa, Asia & Australia Total Bonds Bank Loans Tax Partnership Other Loans Other short term debt Commercial Paper Gross debt Financial Receivables Tariff Deficit Other short term financial receivables Cash and cash equivalents Net Debt Third Parties Net Debt Intercompany Net Debt Group View

35 Debt maturity coverage split by typology ( bn) Available committed credit lines 1 Cash Short Term Bank Loans and Others Bonds Q After Of which 13.7 bn of long term committed credit lines with maturities beyond March

36 Balance sheet ( mn) 1Q 2018 FY 2017 Net financial debt 37,871 37, % Shareholder s equity 48,832 52, % Net capital employed 86,703 89, % 35

37 120, ,000 80, , , ,0 00-1Q 2018 consolidated results Balance sheet structure ( mn) Net fixed assets 98,987 91,021 6,344 1,622 (4,065) (8,560) ,703 48,832 37,871 Assets WIP Equity investments NWC Provisions Net Assets HFS Net capital employed Equity Net debt / Net capital employed Net debt 44% 36

38 Italy reported figures ( mn) Revenues EBITDA EBIT 1Q Q 2017 yoy 1Q Q 2017 yoy 1Q Q 2017 yoy Thermal Generation and Trading 5,071 5,275-4% (8) % (64) % Infrastructure & Networks 1,987 1,863 7% % % Renewables % % % Retail 4,510 4,648-3% % % e - Solutions (4) - - Services and Other (2,013) (1,964) 2% % % Total 10,109 10,293-2% 1,943 1,947 0% 1,308 1,404-7% 1Q Q 2017 yoy CAPEX % Headcount 28,685 28,684 0% 1. For year 2017 data as of March

39 Iberia reported figures ( mn) Revenues EBITDA 1Q Q 2017 yoy 1Q Q 2017 yoy 1Q Q 2017 yoy Thermal Generation and Trading 1,491 1,297 15% % (29) (59) -51% Infrastructure & Networks % % % Renewables % % 38 6 n.m. Retail 3,985 4,245-6% % % e - Solutions Services and Other (1,260) (1,109) 14% % 24 4 n.m. Total 5,092 5,210-2% % % EBIT 1Q Q 2017 yoy CAPEX % Headcount 9,597 9,711-1% 1. For year 2017 data as of March

40 South America reported figures ( mn) Revenues EBITDA EBIT 1Q Q 2017 yoy 1Q Q 2017 yoy 1Q Q 2017 yoy Thermal Generation and Trading % % % Infrastructure & Networks 2,171 2,228-3% % % Renewables % % % e - Solutions Services and Other (446) (464) - (18) (19) - (17) (19) -11% Total 3,086 3,247-5% 1,012 1,087-7% % 1Q Q 2017 yoy CAPEX 1 3,002 3,069-2% Headcount 13,903 12,979 7% 1. For year 2017 data as of March

41 Argentina reported figures ( mn) Revenues EBITDA EBIT 1Q Q 2017 yoy 1Q Q 2017 yoy 1Q Q 2017 yoy Thermal Generation and Trading % n.m n.m. Infrastructure & Networks % % % Renewables % % % e - Solutions Services and Other - (1) Total % % % Ordinary unitary margin ( /MWh) 1Q Q 2017 yoy Thermal Generation % Renewables % Distribution % 40

42 Brazil reported figures ( mn) Revenues EBITDA EBIT 1Q Q 2017 yoy 1Q Q 2017 yoy 1Q Q 2017 yoy Thermal Generation and Trading % % % Infrastructure & Networks % % 47 (12) n.m. Renewables % % % e - Solutions Services and Other (66) (80) - (13) (9) - (13) (10) 30% Total 1, % % % Ordinary unitary margin ( /MWh) 1Q Q 2017 yoy Thermal Generation % Renewables % Distribution % 41

43 Chile reported figures ( mn) Revenues EBITDA EBIT 1Q Q 2017 yoy 1Q Q 2017 yoy 1Q Q 2017 yoy Thermal Generation and Trading % % (5) % Infrastructure & Networks % % % Renewables % % % e - Solutions Services and Other (279) (264) - (5) (10) - (4) (10) -60% Total 777 1,021-24% % % Ordinary unitary margin ( /MWh) 1Q Q 2017 yoy Thermal Generation % Renewables % Distribution % 42

44 Colombia reported figures ( mn) Revenues EBITDA EBIT 1Q Q 2017 yoy 1Q Q 2017 yoy 1Q Q 2017 yoy Thermal Generation and Trading % % 4 4 0% Infrastructure & Networks % % % Renewables % % % e - Solutions Services and Other (55) (66) Total % % % Ordinary unitary margin ( /MWh) 1Q Q 2017 yoy Thermal Generation % Renewables % Distribution % 43

45 Peru reported figures ( mn) Revenues EBITDA EBIT 1Q Q 2017 yoy 1Q Q 2017 yoy 1Q Q 2017 yoy Thermal Generation and Trading % % % Infrastructure & Networks % % % Renewables % % % e - Solutions Services and Other (46) (53) Total % % % Ordinary unitary margin ( /MWh) 1Q Q 2017 yoy Thermal Generation % Renewables % Distribution % 44

46 Europe & North Africa reported figures ( mn) Revenues EBITDA EBIT 1Q Q 2017 yoy 1Q Q 2017 yoy 1Q Q 2017 yoy Romania % % % Russia % % % Other % % % Total % % % 1Q Q 2017 yoy CAPEX % Headcount 5,733 5,858-2% 1. For year 2017 data as of March

47 Other countries reported figures ( mn) North & Central America 1Q Q 2017 yoy CAPEX 1 1,802 1,832-2% Headcount 2, % Revenues EBITDA EBIT 1Q Q 2017 yoy 1Q Q 2017 yoy 1Q Q 2017 yoy North & Central America % % % North America % % % Mexico % % % Panama % % % Other % % 7 2 n.m. Sub Saharian Africa & Asia % % - 2 n.m. Total % % % Sub Saharian Africa & Asia 1Q Q 2017 yoy CAPEX % Headcount % 1. For year 2017 data as of March

48 Capex by country 1 ( mn) Other Subsaharian Africa & Asia North & Central America South America Iberia Europe & North Africa Italy -5% 1, , S&H n.m. North & Central America +5% South America -43% Iberia +25% Europe & North Africa -+20% Italy +30% 1Q Q Q 2018 includes capex held for sale for 150 mn 47

49 Capex matrix 1 ( mn) Global Generation & Trading Global Infrastructures & Netw orns Renew able Energies Italy Iberia South America Argentina Brazil Chile (0) Colombia Peru Other Europe and North Africa Romania Russia Slovakia Other North & Central America Africa & Asia Other Countries Total ,379 1,453 Retail Enel X Services & Other Total Total 1. Rounded figures. 1Q 2018 figure includes 150 mn related to assets held for sale 48

50 Group total net installed capacity 1 : breakdown by technology and geography MW Hydro Wind Geothermal 1. Excludes managed capacity 2. Includes Greece, Bulgaria 3. Includes Canada, Guatemala, Costa Rica 4. Includes South Africa, India Solar & Other Nuke Coal CCGT Oil&Gas ST/OCGT Italy 12, ,340 4,535 2,739 27,628 Iberia 4,758 1, ,318 5,168 5,445 2,377 22,698 South America 9,990 1, , ,240 2,692 20,955 Argentina 1, ,922 1,169 4,419 Brazil 1, ,250 Chile 3, , ,475 Colombia 3, ,467 Peru ,294 Uruguay Europe & North Africa , ,447 9,761 Romania Russia , ,447 8,878 Slovakia Other North/Central Americas 623 2, ,085 Mexico ,395 Panama USA 25 1, ,015 Other Africa Subsahariana & Asia Total 27,791 7, ,929 3,318 15,965 15,028 12,255 85,822 TOTAL 49

51 Group total net production 1 : breakdown by technology and geography GWh Hydro Wind Geothermal Italy 3, , ,583 1, ,108 Iberia 2,047 1, ,650 5,273 1,724 1,645 18,512 South America 8,465 1, , ,612 Argentina , ,761 Brazil ,150 Chile 2, ,118 Colombia 3, ,279 Peru 1, ,259 Uruguay Europa & North Africa ,522 1,613 3,539 10,247 Romania Russia ,522 1,613 3,539 9,673 Slovakia Other North/Central Americas 818 2, ,387 Mexico Panama USA 16 1, ,882 Other Africa Subsahariana & Asia Total 15,132 5,762 1,476 1,083 6,650 16,221 9,667 6,215 62, Excludes production referred to managed capacity 2. Includes Greece, Bulgaria 3. Includes Canada, Guatemala, Costa Rica 4. Includes South Africa, India Solar & Other Nuke Coal CCGT Oil&Gas ST/OCGT TOTAL 50

52 Group total additional capacity 1 : breakdown by technology and geography MW Hydro Wind Geothermal 1. Excludes managed capacity 2. Includes Greece, Bulgaria 3. Includes Canada, Guatemala, Costa Rica 4. Includes South Africa, India Solar & Other Nuke Coal CCGT Oil&Gas ST/OCGT Italy Iberia South America Argentina Brazil Chile Colombia Perù Uruguay Europa & North Africa Romania Russia Slovakia Other North/Central Americas Mexico Panama USA Other Africa Subsahariana & Asia Total TOTAL 51

53 Renewable projects in execution: breakdown by technology and geography 1,2 MW Wind Hydro Geothermal Solar Biomass Total Italy Iberia South America Europe & North Africa North & Central America 1, ,453 Sub-Saharan Africa & Asia Total 1, , Includes BSO projects 2. As of March31 st,

54 Renewable projects under construction : breakdown by technology and geography 1,2 MW Wind Hydro Geothermal Solar Biomass Total Italy Iberia South America Europe & North Africa North & Central America ,268 Sub-Saharan Africa & Asia Total 1, , Includes BSO projects 2. As of March31 st,

55 Renewable projects ready to build : breakdown by technology and geography 1,2 MW Wind Hydro Geothermal Solar Biomass Total Italy Iberia South America Europe & North Africa North & Central America Sub-Saharan Africa & Asia Total Includes BSO projects 2. As of March31 st,

56 Global Renewable Energies gross pipeline 1 Pipeline by technology Pipeline by geography Pipeline by COD 1% 1% 49% 1% 12% 4% 7% 25% 21.9 GW 21.9 GW 31% 42% 40% 21.9 GW 28% 49% 10% Wind Solar Hydro Geo Other Italy Iberia South America Europe & North Africa North & Central America Sub-Saharan Africa & Asia > As of March 31 st,

57 Disclaimer This presentation contains certain forward-looking statements that reflect the Company s management s current views with respect to future events and financial and operational performance of the Company and its subsidiaries. These forward-looking statements are based on Enel S.p.A. s current expectations and projections about future events. Because these forward-looking statements are subject to risks and uncertainties, actual future results or performance may differ materially from those expressed in or implied by these statements due to any number of different factors, many of which are beyond the ability of Enel S.p.A. to control or estimate precisely, including changes in the regulatory environment, future market developments, fluctuations in the price and availability of fuel and other risks. You are cautioned not to place undue reliance on the forward-looking statements contained herein, which are made only as of the date of this presentation. Enel S.p.A. does not undertake any obligation to publicly release any updates or revisions to any forward-looking statements to reflect events or circumstances after the date of this presentation. The information contained in this presentation does not purport to be comprehensive and has not been independently verified by any independent third party. This presentation does not constitute a recommendation regarding the securities of the Company. This presentation does not contain an offer to sell or a solicitation of any offer to buy any securities issued by Enel S.p.A. or any of its subsidiaries. Pursuant to art. 154-bis, paragraph 2, of the Italian Unified Financial Act of February 24, 1998, the executive in charge of preparing the corporate accounting documents at Enel, Alberto De Paoli, declares that the accounting information contained herein correspond to document results, books and accounting records. 56

58 Contact us Monica Girardi Head of Group Investor Relations Phone Web site Investor Relations team Serena Carioti Alessia Di Ninno Federica Dori Donatella Izzo Fabrizio Ragnacci Federica Todaro Emanuele Toppi Follow us 57