17. Enel SpA
1Q2007 Results Investor Relations
EBITDA evolution: international division (€mn)
+141
+141
-30
+189 -3 -29
+20 +1 -12 317
-7 12
1
54
31
176 -18 27
Iberia
19 Slovakia
Romania
72 Bulgaria
North America 189
South America
11 Russia
30 France
44
15
Iberia Slovakia Romania Bulgaria North South Russia France
-12
1Q06 America America 1Q07
17
28. Enel SpA
Investor Relations
Generation & Energy Management
€ mn 1Q06 1Q07
Revenues 4,536 4,023
EBITDA 928 985
EBIT 695 754
Capex 151 223
Headcount 9,573 1 9,569
1. As of December 31, 2006 28
29. Enel SpA
Investor Relations
Infrastructure & Network
€ mn 1Q06 1Q07
Revenues 1,375 1,383
Power 1,261 1,262
Gas 114 121
EBITDA 846 905
Power 775 823
Gas 71 82
EBIT 652 697
Power 599 638
Gas 53 59
Capex 288 315
1
Headcount 24,701 24,244
1. As of December 31, 2006 29
30. Enel SpA
Investor Relations
International activities
€ mn 1Q06 1Q07
Revenues 607 1,059
EBITDA 176 317
EBIT 127 193
Capex 37 144
Headcount 13,861 1 13,821
1. As of December 31, 2006 30
31. Enel SpA
Investor Relations
Services & Holding
€ mn 1Q06 1Q07
Revenues 540 482
Holding 304 210
Services and other 236 272
EBITDA 1
108 53
Holding 68 -11
Services and other 40 64
EBIT 1 85 28
Holding 65 -15
Services and other 20 43
1. Excluding inter-company adjustments equal to €4mn in 1Q07 and €6mn in 1Q06 respectively
31
32. Enel SpA
Investor Relations
Services & Holding - Continued
€ mn 1Q06 1Q07
Capex 15 12
Holding 0 1
Services and other 15 11
Headcount 5,237 1
5,317
Holding 652 681
Services and other 4,585 4,636
1. As of December 31, 2006 32
33. Enel SpA
Investor Relations
Capex by business area (€mn)
+198mn +39.6%
698
Market 4 -55.6%
G&M
223 +47.7%
I&N
500
International 9
Services & Holding 151
+9.4%
315
288
+289.2%
144
-20.0%
37
15 12
1Q06 1Q07
33
34. Enel SpA
Investor Relations
Debt structure
Average debt maturity: 5 years and 6 months
Average cost of debt: 4.7%
(Fixed+hedged)/Total long-term debt: 81%
(Fixed+hedged)/Total net debt: 62%
Rating:
S&P’s = A+/A-1 C.W. negative; Moody’s = Aa3/P-1 C.W. negative
€ mn FY06 1Q071 %
Long-term 11,104 11,518 +3.7%
Short-term2 1,409 6,001 +325.9%
Cash3 -823 -2,525 206.8%
Net debt 11,690 14,994 +28.3%
1 Including both continuing and discontinued operations
2 Including current maturities of long-term debt
3 Including factoring and other current receivables
34
35. Enel SpA
Investor Relations
Disclaimer
THESE SLIDES HAVE BEEN PREPARED BY THE COMPANY SOLELY FOR THE USE AT ENEL’S
CONFERENCE CALL ON FIRST QUARTER 2007 RESULTS.
THE INFORMATION CONTAINED HEREIN HAS NOT BEEN INDEPENDENTLY VERIFIED. NONE OF THE
COMPANY OR REPRESENTATIVES SHALL HAVE ANY LIABILITY WHATSOEVER IN NEGLIGENCE OR
OTHERWISE FOR ANY LOSS HOWSOEVER ARISING FROM ANY USE OF THESE SLIDES OR THEIR
CONTENTS OR OTHERWISE ARISING IN CONNECTION WITH THESE SLIDES OR ANY MATERIAL
DISCUSSED DURING THE ANALYST PRESENTATION.
THIS DOCUMENT IS BEING FURNISHED TO YOU SOLELY FOR YOUR INFORMATION AND MAY NOT BE
REPRODUCED OR REDISTRIBUTED TO ANY OTHER PERSON.
THE INFORMATION CONTAINED HEREIN AND OTHER MATERIAL DISCUSSED DURING THE ABOVE
CONFERENCE MAY INCLUDE FORWARD-LOOKING STATEMENTS THAT ARE NOT HISTORICAL FACTS,
INCLUDING STATEMENTS ABOUT THE COMPANY’S BELIEFS AND EXPECTATIONS. THESE STATEMENTS
ARE BASED ON CURRENT PLANS, ESTIMATES, PROJECTIONS AND PROJECTS, AND THEREFORE YOU
SHOULD NOT PLACE UNDUE RELIANCE ON THEM.
FORWARD-LOOKING STATEMENTS INVOLVE INHERENT RISKS AND UNCERTAINTIES. WE CAUTION
YOU THAT A NUMBER OF IMPORTANT FACTORS COULD CAUSE ACTUAL RESULTS TO DIFFER
MATERIALLY FROM THOSE CONTAINED IN ANY FORWARD-LOOKING STATEMENT. SUCH FACTORS
INCLUDE, BUT ARE NOT LIMITED TO: TRENDS IN ENEL’S CORE ENERGY BUSINESS, ITS ABILITY TO
IMPLEMENT COST-CUTTING PLANS, CHANGES IN THE REGULATORY ENVIRONMENT AND FUTURE
CAPITAL EXPENDITURES.
35