Total revenues: 2.5 billion euros (2.3 billion euros in 2010,
EBITDA: 1.6 billion euros (1.3 billion euros in
Net financial debt: 4.1 billion euros (3.1 billion euros in
Rome, January 27th, 2012- The Board of
Directors of Enel Green Power SpA ("Enel Green
Power"), chaired by Luigi Ferraris, met today to review
the preliminary consolidated results for 2011.
Total revenuesfor the Enel Green Power
Group were 2.5 billion euros, up 8.7% compared with the 2.3
billion euros posted in 2010. As was the case at June 30th,
2011, revenues for the full year include extraordinary
income, equal to 0.2 billion euros.
EBITDAcame to 1.6 billion euros, up 0.3
billion euros (+23.1%) over the 1.3 billion euros reported
for 2010. Net of the extraordinary income items noted above,
ordinary EBITDA amounted to 1.4 billion euros, up 0.1 billion
Net financial debtat the end of 2011 came
to 4.1 billion euros, an increase of about 1 billion euros
from the 3.1 billion euros posted at the end of 2010. This is
attributable for 0.5 billion euros to the increase in planned
investments not covered by cash flow from current operations,
with the remainder due to the change in the scope of
Employeesat the end of 2011 numbered 3,288
(2,955 at the end of 2010).
Commenting on the results,Francesco
Starace, Chief Executive Officer and General
Manager of Enel Green Power, remarked: "We achieved all
the targets announced in March 2011. With over 880 MW
installed, we fully met our objective for additional
generation capacity, while also achieving our EBITDA target.
Careful cash flow management also enabled us to comply with
our debt guidance. All of this was made possible by our
strong project implementation skills in the field and our
solid discipline in leveraging on Enel Green Power's
technological and geographical diversification during a
particularly turbulent year".
Net installed capacity
Net installed capacity of the Group at the end
of 2011 amounted to 7,079 MW, of which 2,539 MW (36%) hydro,
3,541 MW (50%) windy, 769 MW (11%) geothermal, 102 MW (1%)
solar and 128 MW (2%) of other renewable resource power
(biomass and cogeneration).
Compared with December 31st, 2010, the net installed
capacity of the Group increased by 9772 MW (+16%), mainly in
the wind segment.
Net electricity generated by the Group in 2011
amounted to 22.5 TWh, of which 10.1 TWh (45%) hydro, 6.1 TWh
(27%) wind, 5.6 TWh (25%) geothermal and 0.7 TWh (3%) from
other renewable energy resources (solar, biomass and
Power generation increased by 0.7 TWh (3%) compared
with 2010, mainly attributable to the expansion in installed
wind capacity and the greater capacity and availability of
geothermal plants, offset by a decrease in hydro
ALTERNATIVE PERFORMANCE INDICATORS
The following section describes a number of alternative
performance indicators, not envisaged under the IFRS-EU
accounting standards, which are used in this press release in
order to facilitate the assessment of the Group's
performance and financial position.
Total revenues: calculated as the sum of
"Revenues" and "Net income/(charges) from
commodity risk management".
EBITDA: an indicator of Enel Green
Power's operating performance, calculated as
"Operating income" plus "Depreciation,
amortization and impairment losses".
Net financial debt: an indicator of Enel
Green Power's financial structure, calculated as the sum
of "Long-term loans", "Short-term loans and
current portion of long-term loans", net of "Cash
and cash equivalents" and "Current financial
assets" and "Non-current financial assets"
(financial receivables and securities other than equity
Pursuant to Article 154-bis, paragraph 2, of the
Consolidated Law on Financial Intermediation, the officer
responsible for the preparation of the corporate financial
reports, Alberto de Paoli, certifies that the accounting
information contained in this press release corresponds with
that contained in the accounting documentation, books and