ENEL GREEN POWER ANNOUNCES PRELIMINARY CONSOLIDATED RESULTS FOR 2012

Total revenues: 2.7 billion euros (2.5 billion in 2011, +8.0%)
EBITDA: 1.7 billion euros (1.6 billion in 2011, +6.3%)
Net financial debt: 4.7 billion euros (4.1 billion in 2011, +14.6%)

Rome, February 1st, 2013 – 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 2012. 
 
Total revenues of the Enel Green Power Group amounted to 2.7 billion euros, up 8.0% from the 2.5 billion euros posted in 2011. Both figures include non-recurring items. The growth in revenues amounted to 0.2 billion euros. Such an increase is mainly attributable to the sale of electricity resulting from higher output achieved in Iberia and Latin America, North America and the rest of Europe.

EBITDA totalled 1.7 billion euros, an increase of 6.3% compared with the 1.6 billion euros registered in 2011. Both figures include non-recurring items.

Net financial debt was 4.7 billion euros, at the end of 2012 up about 0.6 billion on the 4.1 billion euros posted at the end of 2011.

Employees at the end of 2012 numbered 3,513 (3,230 at the end of 2011).

Commenting on the results, Francesco Starace, Chief Executive Officer and General Manager of Enel Green Power, stated: “We are very pleased with the results posted last year by Enel Green Power. Our diversification strategy in the technological and geographical development drove an increase of the Group’s installed capacity of over 900 MW, in line with our target. Our strategy helped consolidate the Group’s footprint in significant markets such as the US, Canada and Romania as well as pursue growth in emerging countries such as Mexico and Guatemala.”

 

OPERATIONAL HIGHLIGHTS

Net installed capacity
Group net installed capacity at the end of 2012 totalled 8.0 GW, of which 2.6 GW (33%) hydro, 4.3 GW (54%) wind, 0.8 GW (10%) geothermal, 0.2 GW (2%) solar and 0.1 GW (1%) from other renewable energy resources (biomass and cogeneration). Compared with December 31st, 2011, net installed capacity increased by 0.9 GW (+13%)2 mainly in the wind segment. 

Power generation
Net electricity generated by the Group in 2012 amounted to 25.1 TWh, of which 9.9 TWh (39%) hydro, 9.0 TWh (36%) wind, 5.5 TWh (22%) geothermal, 0.2 TWh (1%) solar and 0.5 TWh (2%) from other renewable energy resources (biomass and cogeneration).

Power generation increased by 2.6 TWh (+12%) compared with 2011, mainly attributable to higher installed wind capacity, offset by a decrease in hydro generation owing to lower water availability.

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”. 3

- Net financial debt: an indicator of Enel Green Power’s financial structure, determined by “Long-term loans”, the current portion of such loans, “Short-term loans”, less “Cash and cash equivalents” and “Current financial assets” and “Non-current financial assets” not considered in other balance sheet indicators.

The officer responsible for preparing the company’s financial reports Giulio Antonio Carone declares, pursuant to paragraph 2 of Article 154-bis of the Consolidated Law on Finance that the accounting information contained in this press release corresponds to the document results, books and accounting records.

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