Annual Report 2010 - Enel.com

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Company name Registered office Country Activity Share capital Currency Held by % holding 314 Enel Annual Report 2010 Attachments Group % holding Endesa Ireland LTD Dublin Ireland Electricity generation, transmission and distribution 439,733,778.00 EUR Endesa Generación SA 100.00% 92.06% Endesa Latinoamerica SA Madrid Spain Holding company 1,500,000,000.00 EUR Endesa SA 100.00% 92.06% Endesa Network Factory SL Barcelona Spain New technologies 23,149,170.00 EUR Endesa Servicios SL 100.00% 92.06% Endesa North América New York (New USA Representative office 1.00 USD Endesa Desarrollo SL 100.00% 92.06% Inc. York) Endesa Operaciones y Servicios Comerciales SL Barcelona Spain Services 10,138,580.00 EUR Endesa Energía SA 100.00% 92.06% Endesa Power Trading London United Trading 1,000.00 GBP Endesa SA 100.00% 92.06% Ltd Kingdom Endesa Red SA Barcelona Spain Electricity distribution 729,555,911.85 EUR Endesa SA 100.00% 92.06% Endesa Servicios SL Madrid Spain Services 89,999,790.00 EUR Endesa SA 100.00% 92.06% Endesa Trading SA Madrid Spain Trading 800,000.00 EUR Endesa Desarrollo SL 100.00% 92.06% Energías de Aragón I SL Zaragoza Spain Electricity transmission, distribution and sale 3,200,000.00 EUR Endesa Generación SA 100.00% 92.06% Enersis SA Santiago Chile Electricity generation and 2,824,882,830,000.00 CLP Endesa Latinoamerica 60.62% 55.81% distribution SA Eólica Fazenda Rio Grande do Brazil Wind plants 1,839,000.00 BRL Endesa Brasil SA 99.95% 54.97% Nova - Generaçao e Comercializaçao de Energia SA Norte Gas Aragón SA Zaragoza Spain Gas distribution 5,889,920.00 EUR Endesa Gas SAU 60.67% 55.85% Gas y Electricidad Palma de Spain Electricity generation 213,775,700.00 EUR Endesa Generación SA 100.00% 92.06% Generación SAU Mallorca Gasificadora Regional Las Palmas de Spain Gas distribution 238,320.00 EUR Endesa Gas SAU 72.00% 66.28% Canaria SA Gran Canaria Generalima SA Lima Peru Holding company 3,060,000.00 PEN Endesa Latinoamerica SA 100.00% 92.06% Generandes Perú SA Lima Peru Holding company 853,429,020.00 PEN Empresa Nacional de Electricidad SA 61.00% 20.42% Gesa Gas SAU Palma de Mallorca Spain Gas distribution 17,128,500.00 EUR Endesa Gas SAU 100.00% 92.06% Guadarranque Solar 4 Seville Spain Electricity generation from 3,006.00 EUR Endesa Generación 100.00% 92.06% SL Unipersonal renewable resources II SA Hidroeléctrica de Barcelona Spain Electricity transmission and 126,210.00 EUR Endesa Red SA 100.00% 92.06% Catalunya SL distribution Hidroeléctrica El Capital Federal Argentina Electricity generation and 298,584,050.00 ARS Empresa Nacional de 2.48% 21.88% Chocón SA sale Electricidad SA Hidroinvest SA Hidroflamicell SL Barcelona Spain Electricity distribution and 78,120.00 EUR Endesa Argentina SA Hidroeléctrica de sales Catalunya SL Hidroinvest SA Capital Federal Argentina Holding company 55,312,093.00 ARS Endesa Argentina SA Ict Servicios Informáticos Ltda Ingendesa do Brasil Ltda Santiago Chile Electricity generation from renewable resources Rio de Janeiro Brazil Design, engineering and consulting Inmobiliaria Manso de Santiago Chile Engineering and Velasco Ltda construction Empresa Nacional de Electricidad SA 500,000,000.00 CLP Enersis SA Chilectra SA 500,000.00 BRL Empresa Nacional de Electricidad SA 59.00% 6.19% 75.00% 69.05% 54.16% 41.94% 99.00% 1.00% 1.00% 32.17% 55.80% 33.46% Empresa de Ingeniería Ingendesa SA 99.00% 25,916,800,510.00 CLP Enersis SA 100.00% 55.81%
Company name International Endesa BV Inversiones Distrilima SA Registered office Country Activity Share capital Currency Held by % holding Group % holding N.A. Netherlands Holding company 15,882,308.00 EUR Endesa SA 100.00% 92.06% Lima Peru Holding company 287,837,245.00 PEN Chilectra SA Enersis SA Endesa Latinoamerica SA Inversiones Endesa Santiago Chile Investments in energy 92,571,641,874.00 CLP Empresa Nacional de 100.00% 33.47% Norte SA projects Electricidad SA Inversora Codensa Bogotá D.C. Colombia Electricity transmission and 5,000,000.00 COP Codensa SA ESP 100.00% 36.67% Ltda U distribution Investluz SA Fortaleza Brazil Holding company 954,620,000.00 BRL Ampla Investimentos e Serviços SA 36.43% 53.46% Endesa Brasil SA 63.57% Luz Andes Ltda Santiago Chile Electricity transmission, distribution and sale e 1,224,348.00 CLP Chilectra SA 99.90% 55.31% combustibile Synapsis Soluciones y Servicios It Ltda 0.10% Minas de Estercuel SA Madrid Spain Mineral deposits 93,160.00 EUR Minas Gargallo SL 99.65% 91.66% Minas Gargallo SL Madrid Spain Mineral deposits 150,000.00 EUR Endesa Generación SA 99.91% 91.98% Minas y Ferrocarril de Utrillas SA Barcelona Spain Mineral deposits 3,850,320.00 EUR Endesa Generación SA 100.00% 92.06% Nueva Compañía de Distribución Eléctrica 4 SL Madrid Spain Electricity generation 3,000.00 EUR Endesa SA 100.00% 92.06% Nueva Marina Real Estate SL Madrid Spain Real estate 3,200.00 EUR Endesa SA 60.00% 55.24% Pereda Power SL La Pereda Spain Development of 5,000.00 EUR Endesa Generación 70.00% 64.44% (Mieres) generation activities II SA Sociedad Agrícola de Santiago Chile Financial investments 5,738,046,495.00 CLP Inmobiliaria Manso de 57.50% 32.09% Cameros Ltda Velasco Ltda Sociedad Santiago Chile Engineering 46,709,640,176.00 CLP Endesa Inversiones 0.01% 33.47% Concesionaria Túnel El Melón SA Generales SA Empresa Nacional de Electricidad SA 99.99% Sociedad Inversora Capital Federal Argentina Holding company 241,490,000.00 ARS Endesa Latinoamerica 57.14% 52.60% Dock Sud SA SA Sociedad Portuaria Bogotá D.C. Colombia Port construction and 5,800,000.00 COP Inversora Codensa 4.90% 29.21% Central Cartagena SA operation Ltda U Southern Cone Power Argentina SA Suministro de Luz y Fuerza SL Synapsis Argentina Ltda Capital Federal Argentina Holding company 19,870,000.00 ARS Emgesa SA ESP Endesa Inversiones Generales SA Torroella Spain Electricity distribution 2,800,000.00 EUR Empresa Nacional de Electricidad SA Hidroeléctrica de de Montgri (Girona) Catalunya SL Buenos Aires Argentina IT services 466,129.00 ARS Enersis SA Synapsis Brasil Ltda Rio de Janeiro Brazil IT services 4,241,890.00 BRL Synapsis Soluciones y Servicios It Ltda Synapsis Argentina Ltda Synapsis Soluciones y Servicios It Ltda 30.15% 35.02% 34.83% 94.95% 1.97% 98.03% 68.27% 33.47% 60.00% 55.24% 5.00% 95.00% 99.95% 0.05% 55.81% 55.81% 315
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Annual Report 2010
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Contents Enel Annual Report 2010 Re
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Report on operations
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Iberia and Latin America Endesa Int
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operates in the end-user market for
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Powers Board of Directors The Board
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The contribution of the operating D
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The Spanish market saw a turnaround
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30.8% of its shares are listed on t
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of 21.4%). More specifically, the p
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Millions of euro Operating assets O
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21 10 January Acquisition of Padoma
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19 April €10 billion revolving li
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1 July Sale of power transmission n
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11 10 November Enel and Kepco sign
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of industrial economies (such as Ge
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inventories at their highest level
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Italy The electricity market Domest
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gradually increasing use, as from 2
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information on customers who have f
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Following the hearing of February 1
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With Resolution ARG/elt no. 211/10,
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Gas transport and metering rates Wi
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With Resolution VIS no. 162/10, the
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Developments in prices in the main
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lished on January 26, 2011, the Min
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On July 2, 2010, the CNC had undert
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ANEEL resolution also provides for
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daily wholesale market. Specificall
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the ARENH price will be set with a
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leading to a final 2010 system cost
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electricity from hydroelectric plan
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National renewable energy action pl
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were held in 2010. Plants with a to
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USA Carbon regulation On May 12, 20
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cial receivables in respect of the
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The performance and balance sheet f
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Costs Millions of euro 2010 2009 re
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Analysis of the Group’s financial
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Sundry provisions, totaling €17,2
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in long-term financial receivables
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eceivable in respect of the sale to
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(1) (2) 2009 results restated Milli
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1 Sales The Sales Division is respo
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the free market, which benefited fr
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Revenues for 2010 totaled €17,540
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of the International Division, rela
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Capital expenditure Millions of eur
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Net efficient generation capacity M
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an increase of €971 million in th
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Contribution to gross thermal gener
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The table below shows performance b
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Operations Net electricity generati
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prior-year items recognized in 2009
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Services and Other Activities The p
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its generation mix towards the use
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Country risk By now, some 50% of th
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Sustainability
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Sustainability in Enel Providing su
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Sustainability reporting Since 2002
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which is needed in order to rationa
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project, which resulted in hiring a
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The Nine Points project was one of
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well as in light of the recent reca
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sustainability by following the Blu
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tainability and governance help bus
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mapping of production sites located
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Zero-emission thermal power generat
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developing low-cost distributed pow
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Electric mobility The “Electric M
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Reconciliation of shareholders’ e
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Consolidated Income Statement Milli
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Consolidated Balance Sheet Millions
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Statement of Changes in Consolidate
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Consolidated Statement of Cash Flow
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2 Accounting policies and measureme
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esposibilities, and their close rel
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and completed before that date are
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Investment property Investment prop
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Financial liabilities Financial lia
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For more information on the estimat
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incorporating the guidelines contai
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classified as equity if (and only i
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Millions of euro LIABILITIES AND SH
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are conducted within the framework
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Expected cash flows from interest r
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The following table reports the cas
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Millions of euro -10% Scenario +10%
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disposal, on September 23, 2009, of
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Segment information for 2010 and 20
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The following table reconciles segm
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The table below gives a breakdown o
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9.c Personnel - €4,907 million Mi
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Net income/(charges) from commodity
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Financial expense Millions of euro
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Information on the Consolidated Bal
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subsequently sold in December 2010;
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expected future cash flows and appl
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18. Equity investments accounted fo
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Equity investments in other compani
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20. Other non-current assets - €1
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addition to direct reimbursement) b
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Assets held for sale 27. Assets hel
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Non-current liabilities 29. Long-te
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issue of bonds for retail investors
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Current portion of long-term loans
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failure to make payment, breach of
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Millions of euro Pension benefits O
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31. Provisions for risks and charge
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Commodity derivatives mainly relate
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36. Current financial liabilities -
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Liabilities held for sale 38. Liabi
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40. Contractual commitments and gua
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Developments in the inquiries of th
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provisionally enforceable, held the
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creditor rights in respect of CELF
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43. Stock incentive plans Between 2
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of the dividend (for 2004) of €0.
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that of a specific benchmark index
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Compensation of Directors, members
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Corporate governance
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Major shareholdings and shareholder
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prescribed by the Unified Financial
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C) The revolving credit facility ag
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structure, internal auditing system
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listed companies), distinctly menti
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University, in Syracuse, New York (
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The Directors perform their duties
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letter b) above, have assets exceed
Page 263 and 264: sufficient to ensure that their jud
Page 265 and 266: compensation of the Chief Executive
Page 267 and 268: the power - which may also be exerc
Page 269 and 270: Conte is concerned, the Board of St
Page 271 and 272: in December 2006, the Board of Dire
Page 273 and 274: “independent” monitoring, entru
Page 275 and 276: conditions, and those whose conside
Page 277 and 278: of the Company’s website (www.ene
Page 279 and 280: Ethics consists of: > general princ
Page 281 and 282: “Zero Tolerance of Corruption”
Page 283 and 284: In principle, unless there are spec
Page 285: Internal control Has the Company ap
Page 288 and 289: Declaration of the Chief Executive
Page 291 and 292: Attachments
Page 293 and 294: Subsidiaries consolidated on a line
Page 295 and 296: Company name Registered office Coun
Page 313: Company name Registered office Coun
Page 317 and 318: Enel SpA companies consolidated on
Page 319 and 320: Company name Companhia Térmica Rib
Page 323 and 324: Endesa SA companies consolidated on
Page 325 and 326: Associated companies accounted for
Page 331 and 332: Company name P.N. Endesa SA Central
Page 333 and 334: Other significant equity investment
Page 337 and 338: Reports
Page 342: Concept design Inarea - Rome Publis
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