Enel shares, ENEL share prices on the Stock Exchange

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ISIN code: IT0003128367
Sector: Utilities
Industry: Power plants

Le actions of Enel are listed on the Milan Stock Exchange under the ticker ENEL.

View the share's historical price on the FTSE MIB

Company Description

Enel SpA (acronym for Ente Nazionale per l'energia Elettrica) is an Italian company that operates in the sector of production and distribution of electricity. The production of electricity is achieved by various energy sources including geothermal, wind, photovoltaic, hydroelectric, thermoelectric, nuclear, biomass and solar thermodynamic. It is the first Italian producer and distributor of electricity.
The company is one of the main global operators and is the 73rd company in the world by turnover.

The head office is in Rome.

It has 66 employees and approximately 717 million customers worldwide. The net installed capacity is equal to 70GW. In the last year, the Enel group produced a total of 84 billion kWh of electricity, distributed 207 billion kWh on its networks and sold 484,6 billion kWh.

Following the liberalization of the market, Enel cannot produce more than 50% of the electricity produced on the national territory and is obliged, like all manufacturing companies, to connect anyone who requests it to the electricity grid (universal service), according to the European regulations.

Enel operates in more than 32 countries: it is present in Europe (Italy, Spain, Portugal, Russia, Romania, France, Bulgaria, Greece, Germany, Poland, the Netherlands, United Kingdom and Ireland), in North America (Canada and United States), Latin America (Argentina, Brazil, Chile, Colombia, Costa Rica, Guatemala, Mexico, Panama and Peru), in Africa (Morocco, South Africa and Zambia), in Asia (India, Japan and South Korea), in Oceania (Australia and New Zealand).

Enel is organized in 4 lines of business:

• Global Infrastructures and Networks: deals with energy transport and distribution infrastructures.
• Global generation: deals with the production of electricity from renewable and traditional sources.
• Global Trading: provides Enel group companies and third parties with products used to power thermoelectric plants and optimization services in the energy production and distribution sector.
• Enel X: deals with supplying innovative products and services for energy transformation at the domestic, urban and industrial level, with a view to sustainable development.

Enel also carries out research and development activities in the field of electricity production and transmission and in the search for energy from renewable sources.

The Enel Group is listed on the stock exchange since 1999 in the FTSE MIB index of the Milan Stock Exchange. Since March 2019 it has been the most capitalized company on the Italian Stock Exchange with a value of over 67 billion euros. Since September 2019 he has been part of theSTOXX Europe 50 index.
Il Enel's main shareholder with 23,6% is the Italian Ministry of Economy and Finance.

THEshareholders, in December 2020, is composed as follows:

• Ministry of Economy and Finance, 23,6%
• Individual investors, 14,1%
• Institutional Investors, 62,3%

In addition to the Italian State, among the main shareholders of Enel are:

• Capital Research & Management Co. (World Investors), 4,57%
• Norges Bank Investment Management, 2,41%
• The Vanguard Group, Inc., 1,97%
• Capital Research & Management Co. (Global Investors), 1,63%
• BlackRock Advisors (UK) Ltd., 1,01%
• BlackRock Investment Management (UK) Ltd., 0,83%

In floating market investors are distributed as follows:

• Institutional Investors, 81,6%
• Individual Investors 18,4%

In geographical distribution of institutional shareholders we find:

• Germany, 6,4%
• United Kingdom, 13,3%
• North America, 46,4%
• France, 5,5%
• Italy, 6,7%
• Rest of Europe, 15,3%
• Rest of the World, 6,4%

In 2020 it is the turnover of Enel was 64 billion euros with a net profit of 2,6 billion.
Revenue is broken down as follows:
– Sale of electricity and natural gas (54,9%)
– Transportation and distribution of electricity (13.%)
– Other activities (32,1%)

In Italy among investee or subsidiary companies of the Enel Group we find:

• Enel Produzione, deals with the production of electricity.
• Servizio Elettrico Nazionale, deals with the sale of electricity on the regulated market.
• Enel Energia, which deals with the sale of electricity on the free market and natural gas to end customers.
• Enel Green Power, which deals with the development and management of energy generation from renewable sources. It holds numerous stakes in other companies operating in the Italian renewable energy sector.
• Energy Hydro Piave (51% through Enel Produzione)
• Enel.si (100% through Enel Energia), offers renewable energy solutions to end customers and manages "Punto Enel Green Power" in franchising.
• Enel Sole, for public and artistic lighting.
• E-distribuzione, for the distribution of electricity
• Enel Trade, for trading on international markets, the procurement and sale of energy products. It owns 100% of Enel Trade Romania, Enel Trade Croatia and Enel Trade Serbia and Nuove Energie, a company specialized in the construction of liquefied natural gas regasification plants, abroad.

Enel also had 50% of Open Fiber, a wholesale network infrastructure operator, which it controlled with an equal share with itogether with CDP Equity. In August 2021, Enel sold its stake in the company's capital. 40% went to the Australian fund Macquarie for two billion and 120 million euros and 10% CDP Equity for 530 million. The operation will be ratified in November 2021.

Abroad, investee or subsidiary companies I'm:

• Enel Investment Holding B.V
• Enel Iberia Srl (Spain)
• Endesa (Spain, 70,1% through Enel Iberia Srl)
• Enel Russia, (Russia, 56,4% through Enel Investment Holding BV)
• RusEnergoSbyt, (Russia, 49,5%)
• Empresa Distribuidora Sur SA, (Argentina, 41%)
• Empresa Electrica Panguipulli SA: 61,9% control,
• Enel Américas SA: (Chile, 56,80%,)
• Enel Distribución Chile SA: (Chile, 61,04%)
• Enel Generación Chile SA: (Chile, 57,9%)
• Enel Green Power Chile Ltda: (Chile, 61,9%)
• Enel Green Power del Sur SpA: (Chile, 61,9%)
• Gas Atacama Chile SA: (Chile, 58,0%)
• Enel Peru SAC
• Enel Distribución Peru SAA, (47,2%)
• Enel Generación Peru SA, (47,5%)
• Enel Finance International
• Enel Finance America
• International Endesa

Economic and financial analysis of the company

Enel was established in 1962 as a public body for the production and distribution of electricity. It was officially born with the law 6 December 1962, n. 1643. The objective of the Italian State was to make electricity an instrument for the development of the country.
The previous companies that operated in the production, transformation, transmission and distribution of electricity, with some exceptions, were merged into the new entity.

The first acquisitions involved various companies throughout the country: SIP, Edison Volta, SADE, SEEE, OEG, SELT-Valdarno, SRE, SME, SGES, SEC, Carbosarda. In the years following its creation, all the small electricity generation and distribution companies that were still scattered throughout the country and had not been included in the category of priority ones were incorporated. The acquisitions usually took place through decrees of the President of the Republic.

Enel's initial strategic plan was to modernize and develop the electricity grid. New high-voltage backbones were built, international and island connections were created, rural areas were electrified and dispatch centers were built.

In the 1967 control of Enel passes from the Committee of Ministers to the interministerial committee for economic planning (CIPE).

In the seventies, due to an energy crisis, Italy adopts a drastic austerity plan and creates the first national energy plan (PEN)The objective of the plan was to create new power plants and diversify energy sources, to reduce dependence on hydrocarbons, through the use of hydroelectric and geothermal energy, the increase in the use of coal, the incineration of waste and the use of nuclear energy.
Various hydroelectric and nuclear power plants and wells for the production of geothermal energy are thus created throughout the country.

Also during the eighties new plants were created, even experimental ones to use alternative energies. Oil dependency decreased from 75,3% in 1973 to 58,5% in 1985.

In 1986 Enel closed its balance sheet positive for the first time with 14 billion and 100 million lire of profit.

Following the Chernobyl disaster, a is launched nuclear referendum which sanctioned the end of nuclear energy in Italy, the closure of existing nuclear power plants and the blocking of new plants.

Enel begins to take steps to find alternative energies.
In 1981, Enel is the first company in the world, together with the help of the EEC, to build and connect a solar power station (the Eurelios plant of Adrano in Sicily) to the electricity grid on an experimental basis. The plant will then be closed in 1987.
In 1984 the first photovoltaic power plant in Vulcano, Sicily, and the first wind farm in Alta Nurra in Sardinia.

In 1988 the new national energy plan (PEN) which establishes the new objectives: increase in energy efficiency, environmental protection, exploitation of national resources, and diversification of sources of supply from abroad.

In the nineties with the llaw 9 January 1991, n. 9, a first process of liberalization of the production of electricity from conventional and renewable sources: companies could produce electricity for their own use with the obligation to transfer the excess quantity to Enel.

In 1992 the transformation of Enel into a joint stock company with the Treasury as the sole shareholder.

In 1999, with the Bersani decree, the liberalization of the electricity market takes place. Following the Decree, Enel is reorganized. The activities of production, transmission, distribution and sale of energy are separated and entrusted to three new companies: Enel Produzione, Enel Distribuzione and Terna.
It is established that Enel's maximum production threshold on national soil cannot exceed 50% of the entire production.

The company comes quoted at the stock exchange in 1999 with the sale of 31,7% of the capital.

The XNUMXs are characterized by policies to reduce the environmental impact in energy production and by an internationalization of the company

In 2000 Enel acquires CHI Energy, a renewable energy producer in North America, for $170 million.

In 2001 he bought viesgo, a subsidiary of Endesa and operating on the Spanish market. Buy Infostrada da Vodafone for 7,25 billion euros. Subsequently Infostrada merges with Wind Telecommunications.

Following the Bersani Decree, he surrenders Elettrogen SpA, Eurogen SpA and Interpower SpA.

In 2005, control of Terna was transferred to Cassa depositi e prestiti SpA and the shares of Wind a Weather Investments SARL.

It was established in 2008 Enel Green Power, which deals with the research and development of energy from renewable sources.

In 2009 he obtained full control of Endesa.

Since 2011 Enel has been admitted to the FTSE4Good Index of the London Stock Exchange which measures the behavior of companies in the field of environmental sustainability, in relations with stakeholders, in respect of human rights, in the quality of working conditions and in the fight against corruption.

In 2012, the remaining shares of Terna (5,1%) were sold, definitively exiting the high voltage grid.

In 2014 it acquired, through the subsidiary Endesa Chile, the control of Atacama Gas Group from the bottom Southern Cross Group for 309 million dollars.

Since 2014 Enel has been included in the STOXX Global ESG Leader Index, an index that measures the results of environmental, social and governance practices adopted by companies.

In 2015, he sold the 49% shareholding of Hydro Dolomiti Enel to the Fedaia Holdings for 335 million euros.

During the'Expo2015 of Milan Enel is Official Global Partner.

Following a redevelopment project of 23 thermoeelectrical outlets in disuse, the plant of Porto Marghera for 5 million euros.

In December 2015 comes Enel Open Fiber SpA.
In 2016 Cassa Depositi e Prestiti approved Enel's offer for the purchase of Metroweb for 714 million euros. From the merger of these two companies was born Open Fiber. The new company is 50% controlled by Enel and CDP Equity.

In March 2017, a collaboration between Enel and University of California in Berkeley with the objective of the operation is the scouting of startups for the development of new future collaborations.

As of April 2017, through a joint venture with Dutch Infrastructure Fund, enters Australia with the largest “ready to build” photovoltaic project.
It is launched E-solutions, a new global business line that aims to explore new technologies and develop innovative products and digital solutions.

In November 2017, Enel presented the 2018-2020 strategic plan, focused on digitization and the promotion of new offers to customers

Participate since 2017 as Official Smart Charging Partner and Official Power Partner of Formula E, the first zero emission car championship. Start a partnership with Audi for the development of services related to electric mobility.
In December 2017 it was launched Enel which develops innovative products and solutions at the service of energy transformation.

In 2018 he became a partner of the project Osmose, for the development of integrated systems and services in the renewable energy sector.

Enter, in September 2019, in the Stoxx 50, the stock market index which includes the 50 main listed companies in Europe. Launches the issuance of the world's first $1,5 billion sustainable bond anchored to 4 sustainability goals promoted by theUN. 

The increase in the diffusion of electric cars allows Enel to start the production and distribution of charging stations throughout the country.

In December 2020, Enel X entered into an agreement with Mail Express Group (MEG) for the acquisition of 100% of CityPoste Payment, an Italian fintech that offers consumers widespread access to payment services.

In August 2021, Enel sold its stake in the capital of Open Fiber. 40% went to the Australian fund Macquarie for two billion and 120 million euros and 10% to Cdp Equity for 530 million. The operation will be ratified in November 2021.

In September 2021, Enel announces that it has placed a 3,5 billion euro sustainable bond linked to the achievement of a group sustainability objective, the reduction of greenhouse gas emissions. The bonds, which will be listed on the Euronext regulated market in Dublin, have an average duration of around 9 years and a cost of around 0,4%.
In the same month a new company is launched, Gridspertise, which will deal with the digital transformation of smart and sustainable grids.