In 2013, Endesa reported a 8% drop in its revenues, from €33.9bn to €31.2bn, due to a 7% fall in revenues in Spain (from €23.4bn to €21.5bn). The group reported a group net income of €1,879m in 2013, an 8% decrease compared to the figure posted in the same period of 2012. Such a decline is mainly due to the fiscal and regulatory measures introduced in Spain in 2012 and 2013. The measures introduced in 2013 alone reduced net income by €659m.
Electricity demand in the Iberian peninsula declined by 2.2% in 2013 compared to the figure posted in 2012. Against this backdrop, Endesa’s electricity production in Spain and Portugal (also including Morocco) stood at 70.5 TWh, a reduction of 10%. Of this amount, 68.5 TWh referred to Spain (-10%), 1.2 TWh to Portugal (-14%) and 852 GWh to other areas (-8%). During this period, Endesa attained a market share of 36.1% in ordinary regime generation, 43% in distribution and 37.5% in sales to customers on the free market. The extraordinary hydro conditions that resulted in a major increase of power generation from hydroelectric plants, and the reduction in traditional thermoelectric generation, led to a decrease in fuel prices. The average wholesale market price of electricity fell by 10% during the period, thus reducing the average cost of purchased electricity.
The economic environment in the markets where Endesa's subsidiaries operate reflected a positive evolution. Electricity demand during 2013 improved in all the countries as follows: Peru (+5.9%), Chile (SIC +4.3% and SING +3.8%), Argentina (+3.8%), Brazil (+3.5%) and Colombia (+3.2%). Against this backdrop, distribution sales by Endesa’s subsidiaries (excluding tolls and unbilled consumption) totalled 61.5 TWh, up 3%. Increases were recorded in Brazil (+4%), Chile (+4%), Peru (+3%), Argentina (+1%) and Colombia (+1%). Endesa’s output in generation activities fell by 2%, to 61,885 GWh mainly due to lower hydro generation in the period because of the drought. Only Argentina posted an increase (+3%), with declines in Peru (-8%), Colombia (-4%), Brazil (-4%) and Chile (-2%).