Endesa's net income rose 78% in 2014 after asset sale to Enel (Spain)

Spanish energy group Endesa posted flat revenues of €21.5bn and a €3,337m net income in 2014 (+78%), thanks to the sale of the sale of Latin American operations to Enel in the amount of €1,764m, and net income of €623m generated by said operations up to the transaction date. Net income from operations in Spain and Portugal in 2014 totalled €950m (-19% on 2013 figures).

In 2014, Endesa's net installed capacity in Spain and Portugal remained stable at 21.7 GW (4.7 GW from hydro, 8.3 GW from conventional thermal, 5.4 GW of CCGT and 3.3 GW of nuclear); the group transferred its 15.6 GW capacity in Latin America to Enel. The sale of Latin American assets was reflected in a 27% drop in power generation in this region (45.1 TWh consolidated in 2014, instead of 61.4 TWh in 2013) and a 23% drop in power sales in Latin America (from 61.2 TWh to 47 TWh). In Spain and Portugal, power generation rose by 1.8% to 69.7 TWh, thanks to a 16% increase in coal-fired generation (to 22.2 TWh) and an 11% hike in CCGT generation (to 1.8 TWh). Nuclear power generation in Spain dipped by 4.4% to 24.8 TWh, while hydropower generation fell by 7.7% (8.9 TWh). Sales in the Iberian peninsula dipped by 2.3%, despite a 2.4% increase in the liberalised market (77.4 TWh); sales on the regulated market fell by 19% to 16.6 TWh, while electricity distributed volumes in Spain and Portugal to 110.9 TWh. Endesa claims a 38% market share in ordinary-regime generation in 2014; the group accounted for 43% of the distribution market and 37% of electricity supply. Where gas is concerned, gas sales rose by 3.7% to 74.3 TWh (45.6 TWh on the liberalised market, 18.3 TWh on the wholesale market and 9.5 TWh on international markets).

In 2014, the group invested €2,178m, including €1,413m in Spain and Portugal and €765m in Latin America.