Annual Report 2010 - Enel.com

Overview of the Group’s
performance and financial
position
Definition of performance indicators
In order to present the results of the Group and analyze its
financial structure, Enel has prepared separate reclassified
schedules that differ from those envisaged under the IFRS-
EU adopted by the Group and presented in the consolidated
financial statements. These reclassified schedules contain
different performance indicators from those obtained
directly from the consolidated financial statements, which
management feels are useful in monitoring Group performance
and representative of the financial performance of
the Group’s business. In accordance with recommendation
CESR/05-178b published on November 3, 2005, the criteria
72 Enel Annual Report 2010 Report on operations
used to calculate these indicators are described below.
Gross operating margin: an operating performance indicator,
calculated as “Operating income” plus “Depreciation,
amortization and impairment losses”.
Net non-current assets: calculated as the difference be-
tween “Non-current assets” and “Non-current liabilities”
with the exception of:
> “Deferred tax assets”;
> “Financial receivables due from other entities”, “Finan-