Rome, February – The Board of Directors of Enel Green Power SpA (“Enel Green Power”), chaired by Luigi Ferraris, met earlier this month to review the preliminary consolidated results for 2013.
Total revenues of the Enel Green Power Group amounted to 2.8 billion euros, up 12.0% from the 2.5 billion euros posted in 2012. The increase of 0.3 billion euros is mainly attributable to higher revenues from the sale of electricity, including incentives, resulting from the increase in production in Italy, the rest of Europe and North America.
EBITDA totalled 1.8 billion euros, an increase of 12.5% compared with the 1.6 billion euros registered in 2012.
Net financial debt was 5.4 billion euros at the end of 2013, up about 0.8 billion euros on the 4.6 billion euros posted at the end of 2012.
Employees at the end of 2013 numbered 3,599 (3,512 at the end of 2012, of whom 103 employed by Enel.si Srl).
Commenting on the results, Francesco Starace, Chief Executive Officer and General Manager of Enel Green Power, stated:
“The results posted in 2013, in line with what previously disclosed, confirm the highly successful implementation of the strategic guidelines that Enel Green Power has adopted, combining increasing technological and geographical diversification with the quest for operational excellence. Once again this year we have expanded installed capacity by more than 900MW, strengthening our presence in many areas of the world and continuing development in markets such as the United States and Latin America, where we have a significant number of projects under way”.
Net installed capacity
Group net installed capacity at the end of 2013 totalled 8.9 GW, of which 2.6 GW (29%) of hydro capacity, 5.1 GW (57%) of wind, 0.8 GW (9%) of geothermal, 0.3 GW (4%) of solar and 0.1 GW (1%) of other renewable energy resources (biomass and cogeneration). Compared with December 31st, 2012, net installed capacity increased by 0.9 GW (+11.3%)4, mainly in the wind segment.
Net electricity generated by the Group in 2013 amounted to 29.5 TWh, of which 10.9 TWh (37%) from hydro, 12.2 TWh (41%) from wind, 5.6 TWh (19%) from geothermal, 0.3 TWh (1%) from solar and 0.5 TWh (2%) from other renewable energy resources (biomass and cogeneration).
Power generation increased by 4.4 TWh (+17.5%) compared with 2012, mainly attributable to the increase in installed wind capacity.
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”5;
– 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.