Annual Report 2010 - Enel.com

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Company name Gasoducto Atacama Argentina SA Registered office Country Activity Share capital Currency Held by % holding Santiago Chile Natural gas transport 208,173,124.00 USD Energex Co 324 Enel Annual Report 2010 Attachments Inversiones Endesa Norte SA Gasoducto Atacama Buenos Aires Argentina Natural gas transport - ARS Gas Atacama SA Gasoducto Atacama Argentina SA Sucursal Argentina Argentina SA Gasoducto Taltal SA Santiago Chile Natural gas transport 17,141,400,000.00 CLP Gasoducto Atacama Argentina SA 42.71% 0.03% Group % holding 16.74% 57.23% 100.00% 16.74% Gas Atacama Chile SA 99.88% Hospital Juan Ramón Jiménez UTE Madrid Spain Solar power generation 6,000.00 EUR Endesa Energía SA 50.00% 46.03% Iniciativas de Gas SL Madrid Spain Natural gas and related services 1,300,010.00 EUR Endesa Generación SA 40.00% 36.82% Instalaciones Inabensa Seville SA - Endesa Ingeniería SLU UTE Spain Energy services - EUR Endesa Ingeniería SLU 50.00% 46.03% Inversiones Gas Santiago Chile Natural gas transport 333,520,000.00 USD Inversiones Endesa 50.00% 16.74% Atacama Holding Ltda Norte SA Medidas Ambientales Medina de Spain Environmental studies 60,100.00 EUR Nuclenor SA 50.00% 23.02% SL Pomar (Burgos) Nuclenor SA Burgos Spain Nuclear plant 102,000,000.00 EUR Endesa Generación SA 50.00% 46.03% Parque Fotovoltaico Las Palmas de Spain Photovoltaic plants 3,008.00 EUR Endesa Ingeniería SLU 50.00% 46.03% Aricoute I SL Gran Canaria Parque Fotovoltaico El Las Palmas de Spain Photovoltaic plants 3,008.00 EUR Endesa Ingeniería SLU 50.00% 46.03% Guanche I SL Gran Canaria Parque Fotovoltaico Las Palmas de Spain Photovoltaic plants 3,008.00 EUR Endesa Ingeniería SLU 50.00% 46.03% Llano Delgado I SL Gran Canaria Parque Fotovoltaico Las Palmas de Spain Photovoltaic plants 3,008.00 EUR Endesa Ingeniería SLU 50.00% 46.03% Llano Delgado VII SL Gran Canaria Parque Fotovoltaico Las Palmas de Spain Photovoltaic plants 3,008.00 EUR Endesa Ingeniería SLU 50.00% 46.03% Tablero I SL Gran Canaria Pegop - Energía Eléctrica SA Abrantes Portugal Electricity generation 50,000.00 EUR Endesa Generación SA 50.00% 46.03% Planta de Regasificación de Sagunto SA Madrid Spain Sale of gas and fuel 1,500,000.00 EUR Iniciativas de Gas SL 50.00% 18.41% Progas SA Santiago Chile Gas distribution 1,404,000.00 CLP Gas Atacama Chile SA 99.90% 16.74% Gas Atacama SA 0.10% Sacme SA Capital Federal Argentina Monitoring of electricity 12,000.00 ARS Empresa Distribuidora 50.00% 21.10% system Sur SA Sociedad Consorcio Santiago Chile Engineering services 1,000,000.00 CLP Empresa de Ingeniería 50.00% 16.74% Ingendesa-Ara Limitada Ingendesa SA Spark Ibérica SA - Barcelona Spain Electrical construction 4,000.00 EUR Endesa Energía SA 50.00% 46.03% Endesa Energía SAU UTE plant Tejo Energía Produçao Paço de Arcos Portugal Electricity generation, 5,025,000.00 EUR Endesa Generación SA 38.89% 35.80% e Distribuçao de transmission and Energia Electrica SA distribution Transmisora Eléctrica Santiago Chile Electricity transmission and 2,202,223.00 CLP Compañía Eléctrica 50.00% 16.74% de Quillota Ltda distribution San Isidro SA 0.12% 16.74%
Associated companies accounted for using the equity method at December 31, 2010 Company name Registered office Country Activity Share capital Currency Held by % holding Group % holding P.N. Enel SpA Alpe Adria Energia SpA Udine Italy Engineering, construction and management of interconnection power lines 450,000.00 EUR Enel Produzione SpA 40.50% 40.50% CESI - Centro Elettrotecnico Sperimentale Italiano Giacinto Motta SpA Milan Italy Research and testing 8,550,000.00 EUR Enel SpA 25.92% 25.92% Chladiace Veze Bohunice Slovakia Engineering and 16,598.00 EUR Slovenské elektrárne 35.00% 23.10% Bohunice Spol Sro construction AS Compagnia Porto Di Civitavecchia SpA Rome Italy Port infrastructure 20,516,000.00 EUR Enel Produzione SpA 25.00% 25.00% Enel Rete Gas SpA Milan Italy Gas distribution 54,139,160.00 EUR Enel Distribuzione SpA 19.88% 19.88% Idrosicilia SpA Milan Italy Water sector 22,520,000.00 EUR Enel SpA 1.00% 1.00% Reaktortest Sro Trnava Slovakia Nuclear power research 66,389.00 EUR Slovenské elektrárne AS 49.00% 32.34% SIET - Società Piacenza Italy Studies, design and 697,820.00 EUR Enel.NewHydro Srl 41.55% 41.55% Informazioni research in thermal Esperienze Termoidrauliche SpA generation U’stav Jaderného Rez Czech Nuclear power research 524,139,000.00 CZK Slovenské elektrárne 27.77% 18.33% Výzkumu Rez AS Republic and development AS Company name Registered office Country Activity Share capital Currency Held by % holding Group % holding P.N. Enel Green Power SpA Aes Distribuidores San Salvador El Salvador Electricity generation from 200,000.00 SVC Grupo Egi SA de Cv 20.00% 13.83% Salvadorenos Ltda de Cv renewable resources Aes Distribuidores San Salvador El Salvador Electricity generation from 200,000.00 SVC Grupo Egi SA de Cv 20.00% 13.83% Salvadorenos y Compania S En C de Cv renewable resources Aplicaçoes Lisbon Portugal Hydroelectric plants 399,000.00 EUR Enel Green Power 35.71% 27.97% Hidroelectricas da Beira España SL (formerly Alta Ltda Endesa Cogeneración y Renovables SA) Calizas Elycar SL Huesca Spain Combined-cycle 1,803,000.00 EUR Enel Green Power 25.00% 19.59% generation plants España SL (formerly Endesa Cogeneración y Renovables SA) Central Hidroeléctrica Seville Spain Hydroelectric plant 301,000.00 EUR Enel Green Power 49.00% 38.38% Casillas SA operation España SL (formerly Endesa Cogeneración y Renovables SA) Central Hidráulica Seville Spain Hydroelectric plant 364,210.00 EUR Enel Green Power 33.30% 26.08% Güejar-Sierra SL operation España SL (formerly Endesa Cogeneración y Renovables SA) Cogeneración El Zaragoza Spain Cogeneration of electricity 36,000.00 EUR Enel Green Power 20.00% 15.66% Salto SL and heat España SL (formerly Endesa Cogeneración y Renovables SA) Cogeneración Girona Spain Cogeneration of electricity 781,300.00 EUR Enel Green Power 33.00% 25.85% Hostalrich AIE and heat España SL (formerly Endesa Cogeneración y Renovables SA) 325
Page 1:
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
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sufficient to ensure that their jud
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compensation of the Chief Executive
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the power - which may also be exerc
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Conte is concerned, the Board of St
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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 315 and 316: Company name International Endesa B
Page 317 and 318: Enel SpA companies consolidated on
Page 319 and 320: Company name Companhia Térmica Rib
Page 323: Endesa SA companies consolidated on
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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