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From now on, Endesa will earn more in Latin America than in Spain

Published on March 9, 2012

From now on, Endesa will earn more in Latin America than in Spain

Endesa’s business in Latin America will contribute with 3.600 million euros of ebitda while the business in Spain and Portugal with 3.300. This results, with Latin America contributing with more than half of the total gross earnings of the company presided by Borja Prado, reinforce Endesa’s hopes of making Latin America the engine of their business.

These figures were announced yesterday in Rome, where the Enel group presented their results for the year. Endesa, a subsidiary of Enel, presented their 2012-2016 strategic planning. Endesa forecasts a 7.000 million euros ebitda for the present year, while 2011’s ebitda was 7.200 million euros.

The growing business in Latin America is compensating the decrease of the business in Spain, where the demand dropped due to the financial crisis. While the business ebitda in Spain will fall around 700 million euros, it would increase in Latin America almost 400 million euros.

In the new Endesa’s strategic plan it is estimated that Latin America would contribute with around the 55% of the ebitda by 2016, year in which the company forecasts 8.300 million euros gross earnings.

Endesa will also invest in the business 10.700 million euros in the period between 2012 and 2016. 50% of this budget will be invested in Spain while the other 50% in Latin America. These figures present a substantial change compared to those of the previous strategic plan, in which 10.300 million euros were invested and 47% of the budget was for the business in Latin America.

The Enel group, who has 92% of Endesa’s shares, presented in 2011 a 17.717 million euros ebitda, which is 1.4% bigger than 2010’s. . Enel’s net income dropped 5.5% till 4.148 million euros while their revenues increased 8.4%. Endesa, with 2.200 million euros net income in 2011, represents 40% of Enel’s ebitda and more than half of Enel’s net income.


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