Annual Report 2010 - Enel.com

Capital expenditure
Millions of euro
2010 2009 2010-2009
Electricity distribution networks 1,101 953 148
Gas distribution networks - 2 (2)
Other investments in property, plant and equipment and
intangible assets 46 157 (111)
Total (1) 1,147 1,112 35
(1) Does not include €63 million regarding units classified as “Held for sale” at December 31, 2009.
Capital expenditure increased by €35 million, due mainly to the work done on the low and medium-voltage grids in
order to improve service quality.
5
Iberia and Latin America
The Iberia and Latin America Division focuses on developing
Enel’s presence and coordinating its operations in the
electricity and gas markets of Spain, Portugal and Latin
America, formulating growth strategies in the related regional
markets.
Following the integration of Enel’s operations in the renewable
energy sector in Spain and Portugal, the activities
of Endesa Cogeneración y Renovables (ECyR, now Enel
Green Power España) and its subsidiaries were transferred
from the Iberia and Latin America Division to the Renewable
Energy Division. Accordingly, the performance figures
for those activities for the 1st Quarter of 2010 (at the
end of which the above transfer took place) are reflected
in the Iberia and Latin America Division, while the balance
sheet figures for the same business at December 31, 2010,
are reported under the Renewable Energy Division.
In addition, following the acquisition of a further 25.01%
of Endesa on June 25, 2009, the latter has been consolidated
as from that date on a full, line-by-line basis rather
than on a proportionate basis. Consequently, the performance
and operational data (unless specified otherwise)
for the 1st Half of 2009 were determined on a proportionate
basis equal to the Group’s holding at that time
(67.05%).
97