English
ItalianoPerformance data
| Millions of euro | 2009 | 2008(1) |
|---|---|---|
| Revenues | 64,035 | 61,184 |
| Gross operating margin | 16,044 | 14,318 |
| Operating income | 10,755 | 9,541 |
| Net income before minority interests | 6,390 | 6,034 |
| Group net income | 5,395 | 5,293 |
| Group net income per share in circulation at year-end (euro) | 0.57 | 0.56 (1) |
Notes
(1) For comparative
purposes, Group net income per share at the end of 2008 has been
calculated to take account of the diluting effect of the capital
increase carried out in 2009.
Revenues in 2009 amounted to €64,035 million, an increase of €2,851 million or 4.7% on 2008. The rise is essentially attributable to the increased revenues earned abroad as a result of the change in the consolidation method used for Endesa (from proportionate to full line-item) adopted as from the end of June 2009 following the acquisition of an additional 25.01% of that company, as well as the different period of consolidation of Enel OGK-5, Enel Distributie Muntenia and Enel Energie Muntenia, net of the deconsolidation of the Viesgo Group, which was sold in June 2008. These positive factors offset the decline in revenues from the sale of electricity on the domestic market, largely attributable to lower volumes sold as a result of the decline in demand.
The gross operating margin amounted to €16,044 million, up €1,726 million or 12.1% on the previous year. The rise is essentially due to the consolidation method used for Endesa and to improved operating efficiency.
Operating income in 2009 came to €10,755 million, a rise of 12.7% on the €9,541 million posted in 2008, largely reflecting the developments in the gross operating margin.
Group net income totaled €5,395 million in 2009, compared with €5,293 million the year before, an increase of 1.9%. This performance reflects strong operating performance, largely attributable to the change in the consolidation method used for Endesa and lower net financial expense including the income (€970 million) from the early exercise of the put option granted by Enel to Acciona on 25.01% of Endesa shares. These positive effects were partially offset by the impact of the recognition in 2008 of beneficial adjustment (net of the corresponding special gains tax) of deferred taxation following the realignment of the differences between the statutory and tax values of certain items of property, plant and equipment as well as the lower income in 2009 from discontinued operations.
