Board Change • Apr 28
High number of new and inexperienced directors There are 9 new directors who have joined the board in the last 3 years. The company's board is composed of: 9 new directors. 3 experienced directors. No highly experienced directors. Non-Executive Independent Director Alessandro Zehentner is the most experienced director on the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Apr 22
Enel SpA, Annual General Meeting, May 12, 2026 Enel SpA, Annual General Meeting, May 12, 2026, at 14:00 W. Europe Standard Time. Location: via dalmazia n 15 00198, roma Italy Announcement • Mar 09
Sembcorp, Hexa Climate Solutions Reportedly Vie for the India Renewables Business of Italy's Enel in $300-Million Deal IPO-bound Singapore's Sembcorp Industries Ltd. (SGX:U96)'s Indian renewable energy business and Hexa Climate Solutions (Hexa Climate Solutions Private Limited) are vying to acquire the entire India renewable business of Italy's Enel Group (Enel SpA (BIT:ENEL)) in a deal having an equity and enterprise value of around $100 million and $300 million, respectively, according to two people aware of the development. Sembcorp is present in India throughSembcorp India Private Limited and Sembcorp Green Infra Ltd. (SGIL) along with other subsidiaries., while Hexa is backed by I Squared Capital. The HSBC-run sale process follows a deal signed last year-which later fell through-under which Waaree Energies Ltd. had agreed to buy 100% of Enel Green Power India Pvt Ltd. (EGP India) from its parent Enel Green Power Development S.R.L. for INR 7,920 million. Mint first reported on 15 November 2023 that Enel Group planned to exit its India renewable business. "Enel Group's entire India renewable business is back on offer again and Sembcorp and Hexa are in talks for it," one of the two people cited above said, requesting anonymity. Enel Green Power India's portfolio comprises 760 megawatts (MW) of operational wind and solar assets, and a development pipeline of 2.5 gigawatts (GW). The company has been present in India's renewable sector since 2015 and in 2020 it partnered with Norway's state-owned investment fund Norfund to jointly finance, build and operate new renewable projects in the country. Spokespersons for Enel Group and HSBC, as well as Hexa Climate Solutions' founder and executive chairman Sanjeev Aggarwal declined to comment. Queries emailed to Sembcorp Industries Ltd. on Thursday evening remained unanswered till press time. Announcement • Apr 11
Enel SpA, Annual General Meeting, May 22, 2025 Enel SpA, Annual General Meeting, May 22, 2025, at 14:00 W. Europe Standard Time. Declared Dividend • Apr 09
Final dividend of €0.26 announced Shareholders will receive a dividend of €0.26. Ex-date: 21st July 2025 Payment date: 23rd July 2025 Dividend yield will be 3.1%, which is lower than the industry average of 4.3%. Sustainability & Growth Dividend is covered by earnings (70% earnings payout ratio) but not covered by cash flows (234% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 3.9% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Board Change • Apr 09
High number of new and inexperienced directors There are 9 new directors who have joined the board in the last 3 years. The company's board is composed of: 9 new directors. 3 experienced directors. No highly experienced directors. Chairman of the Board of Statutory Auditors Barbara Tadolini is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Mar 25
High number of new and inexperienced directors There are 9 new directors who have joined the board in the last 3 years. The company's board is composed of: 9 new directors. 3 experienced directors. No highly experienced directors. Chairman of the Board of Statutory Auditors Barbara Tadolini is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Jan 30
High number of new and inexperienced directors There are 9 new directors who have joined the board in the last 3 years. The company's board is composed of: 9 new directors. 3 experienced directors. No highly experienced directors. Chairman of the Board of Statutory Auditors Barbara Tadolini is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Nov 11
Third quarter 2024 earnings released: EPS: €0.16 (vs €0.15 in 3Q 2023) Third quarter 2024 results: EPS: €0.16 (up from €0.15 in 3Q 2023). Revenue: €18.9b (down 16% from 3Q 2023). Net income: €1.80b (up 7.3% from 3Q 2023). Profit margin: 9.5% (up from 7.5% in 3Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Electric Utilities industry in South America. Board Change • Nov 11
High number of new and inexperienced directors There are 9 new directors who have joined the board in the last 3 years. The company's board is composed of: 9 new directors. 3 experienced directors. No highly experienced directors. Chairman of the Board of Statutory Auditors Barbara Tadolini is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Sep 10
High number of new and inexperienced directors There are 9 new directors who have joined the board in the last 3 years. The company's board is composed of: 9 new directors. 3 experienced directors. No highly experienced directors. Chairman of the Board of Statutory Auditors Barbara Tadolini is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Aug 08
High number of new and inexperienced directors There are 9 new directors who have joined the board in the last 3 years. The company's board is composed of: 9 new directors. 3 experienced directors. No highly experienced directors. Chairman of the Board of Statutory Auditors Barbara Tadolini is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Jun 10
JSW, Torrent, Masdar Among Suitors for Enel's India Assets About half a dozen investors, including Abu Dhabi Future Energy Company PJSC - Masdar of the UAE, Singapore's Sembcorp Industries Ltd. (SGX:U96), JSW Energy Limited (BSE:533148), Torrent Power Limited (NSEI:TORNTPOWER), Sekura Energy Limited and Oil and Natural Gas Corporation Limited (NSEI:ONGC), have submitted non-binding bids to acquire 760 MW of operational assets in India that have been put on the block by Italy's Enel Group, said people aware of the development. HSBC is advising Enel on the sale. The proposed deal may have an enterprise value of $500 million (INR 41.00 billion), the sources said. The portfolio of Enel Green Power India Private Limited comprises 760 megawatts (MW) of operational wind and solar power assets and a development pipeline of 2 gigawatts (GW). Of the operational capacity, solar power projects comprise 420 MW, with the balance 340 MW coming from wind power. Last year, Norwegian Climate Investment Fund, managed by Norfund, and KLP, Norway's largest pension company, had together committed $100 million of equity and guarantees for a 168 MW wind power plant developed by Enel Green Power in India. In 2020, Norfund and Enel Green Power (EGP) entered into a joint investment agreement for renewable energy projects in India. Their first project together, the 420 MW Thar solar plant, was announced in 2022. Enel Green Power, founded in 2008 within the Enel Group to develop and manage renewable power projects globally, operates over 63 GW of installed renewable capacity at 1,300 plants in Asia, Europe, Africa and America. EGP had strengthened its position in India through an acquisition of a majority stake in renewable energy company BLP Energy for INR 30 million (INR 2.20 billion) in 2015.Enel, ONGC, Masdar and Sekura Energy spokespersons declined to comment. JSW, Sembcorp and Torrent didn't respond to queries. Energy producers such as Sekura Energy, Sembcorp and Masdar Energy are already in the race for several Indian renewable assets that are on the block. These three were among the contenders for the 2 GW renewable portfolio of Brookfield in India that's up for sale at an estimated enterprise value of $800 million - 1 billion (INR 66.00 billion - INR 83.00 billion). JSW Neo Energy and Sekura Energy are among the bidders that have made non-binding offers to acquire a controlling stake in Ayana Renewable Power, majority owned by National Investment and Infrastructure Fund (NIIF), at a valuation of about $2 billion, ET had reported. ONGC is another contender for several assets in the clean energy space as part of decarbonising its operations. ONGC plans to have a renewable energy capacity of 10 GW by 2030 at an investment of INR 1 lakh crore. The outlook for the renewable energy (RE) sector remains stable, led by strong policy support from the government, superior tariff competitiveness and sustainability initiatives by large commercial and industrial (C&I) customers. Announcement • Oct 27
Public Power Corporation S.A. (ATSE:PPC) completed the acquisition of Enel assets in Romania from Enel SpA (BIT:ENEL) for approximately €1.2 billion. Public Power Corporation S.A. (ATSE:PPC) signed an exclusivity agreement to acquire Enel assets in Romania from Enel SpA (BIT:ENEL) on December 14, 2022. Public Power Corporation S.A. (ATSE:PPC) signed an agreement to acquire Enel assets in Romania from Enel SpA (BIT:ENEL) for approximately €1.3 billion on March 9, 2023. In addition, the total consideration is subject to adjustments customary for these kinds of transactions as well as to an earn-out mechanism for a potential additional payment based on the future value of the retail business. PPC intends to finance the Acquisition with a combination of debt and cash on balance sheet, with €800 million of committed debt financing in the form of a €485 million 5-year term loan facility through Greek banks and a €315 million bridge facility through international banks. The transaction is subject to due diligence and approval by antitrust authorities. As of February 4, 2023, the exclusivity period for negotiations has been extended until February 28, 2023. As of June 26, 2023 European Commission approved the transaction. The transaction is expected to close in third quarter of 2023. Citigroup Global Markets Europe AG, Goldman Sachs Bank Europe SE, HSBC Continental Europe acted as financial advisors, S.A, Lisa O’Neill, Apostolos Gkoutzinis, Andrew Reilly, Trevor Truman, and Alan Rafferty of Milbank LLP acted as a legal advisor, Cornelia Bumbacea, Andreea Bistriceanu, Andreea Oprescu, Laura Paraschiv, Andreea Puiu, Daniel Anghel, Ruxandra Târlescu, Adina Vizoli, oana Bara, Ludmila Petrescu, Claudiu Simionescu, and Anca Lungeanu of PwC Romania, PwC Greece and Anda Rojanschi, Cristina Paduraru and Ovidiu Bold of D&B David si Baias experts provided due diligence, tax structuring advice and support on the complex financial and tax aspects of the transaction documents, as well as legal advice to Public Power Corporation S.A. (ATSE:PPC). Clifford Chance LLP acted as legal advisor to Enel SpA in the transcation.Public Power Corporation S.A. (ATSE:PPC) completed the acquisition of Enel assets in Romania from Enel SpA (BIT:ENEL) for approximately €1.2 billion on October 25, 2023. Following the fulfillment of all the conditions precedent customary for these kinds of transactions set forth in the related sale agreement closed the transaction. AXIA Ventures Group and Euroxx Securities SA acted as financial advisors to PPC. Announcement • Oct 26
Sonnedix Chile Arcadia Generación S.p.A. and Sonnedix Chile Arcadia SPA acquired Arcadia Generación Solar S.p.A. from Enel S.p.A.and Enel Chile S.A. Sonnedix Chile Arcadia Generación S.p.A. and Sonnedix Chile Arcadia SPA signed a stock purchase agreement to acquire Arcadia Generación Solar S.p.A. from Enel S.p.A.and Enel Chile S.A. for an enterprise value of $550 million on July 12, 2023. The total consideration, subject to adjustments customary for these kinds of transactions. The closing of the sale is subject to certain conditions precedent customary for these kinds of transactions, including the clearance from the Chilean antitrust authority Fiscalía Nacional Económica (FNE).Sonnedix Chile Arcadia Generación S.p.A. and Sonnedix Chile Arcadia SPA completed the acquisition of Arcadia Generación Solar S.p.A. from Enel S.p.A.and Enel Chile S.A. on October 25, 2023 Announcement • Jul 13
Sonnedix Chile Arcadia Generación S.p.A. and Sonnedix Chile Arcadia SPA signed a stock purchase agreement to acquire Arcadia Generación Solar S.p.A. from Enel S.p.A.and Enel Chile S.A. for an enterprise value of $550 million. Sonnedix Chile Arcadia Generación S.p.A. and Sonnedix Chile Arcadia SPA signed a stock purchase agreement to acquire Arcadia Generación Solar S.p.A. from Enel S.p.A.and Enel Chile S.A. for an enterprise value of $550 million on July 12, 2023. The total consideration, subject to adjustments customary for these kinds of transactions. The closing of the sale is subject to certain conditions precedent customary for these kinds of transactions, including the clearance from the Chilean antitrust authority Fiscalía Nacional Económica (FNE). Announcement • Jul 06
Enel Dismisses Rumours over Sale of Endesa Enel SpA (BIT:ENEL) dismissed suggestions that it is planning to sell its majority stake in Spain’s Endesa, S.A. (BME:ELE) and that a deal had been discussed involving energy group Repsol, S.A. (BME:REP). El Confidencial reported on July 4, 2023 that Repsol Chairman Antonio Brufau had met Borja Prado, an investment banker and former Endesa chairman, to discuss a potential takeover of Endesa before Spain’s election this month. “Enel dismisses the rumours about Endesa as totally groundless,” the Italian power group said in a statement, responding to a report by Spain’s El Confidencial. “Enel has no intentions of selling its stakes in Endesa, neither now nor in the future, as the company is a key asset for its strategy.” The Italian company also emphasised that there have been no discussions on any such deal. “There has never been any meeting between the managers of Enel and Repsol, nor with Borja Prado. This false news risks having distorting effects on the performance of the stock market,” it added. A Repsol spokesperson said that company is not studying any deal for Endesa. Enel’s 70% stake in Endesa, Spain’s largest electricity provider, has a market value of nearly EUR 15 billion ($16 billion) at July 4, 2023 share prices. Its sale would significantly reduce Enel’s net debt, analysts at Equita brokerage said in a report. However, it added that the Italian group’s current asset disposal strategy does not include the stake in the Spanish group. Reported Earnings • May 15
First quarter 2023 earnings released: EPS: €0.099 (vs €0.15 in 1Q 2022) First quarter 2023 results: EPS: €0.099 (down from €0.15 in 1Q 2022). Revenue: €26.4b (down 23% from 1Q 2022). Net income: €1.02b (down 31% from 1Q 2022). Profit margin: 3.9% (down from 4.4% in 1Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to stay flat during the next 3 years compared to a 4.3% growth forecast for the Electric Utilities industry in South America. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • May 10
Enel S.p.A. Announces Resignation of Annachiara Svelto to Board of Directors Enel S.p.A. announced that Ms. Annachiara Svelto resigned on 08 May 2023 evening, effective as 09 May 2023, from her position as a member of the Company's Board of Directors. The resignation is due to the inclusion of Ms Svelto in a slate of candidates for the office of member of the Board of Directors of Terna S.p.A. ('Terna') filed in view of the Shareholders' Meeting of that company convened for May 9, 2023, and takes into account the incompatibility provided for in Terna's Bylaws between the position of board member of companies active in power or gas generation or supply and the position of board member of Terna. In the 2020/2022 mandate, Ms. Svelto, as an independent Director of Enel, has also been Chair of the Related Parties Committee and member of the Nomination and Compensation Committee established within the Company's Board of Directors. Board Change • May 10
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. 2 highly experienced directors. Independent Director Samuel Leupold was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • Feb 07
Enel Enters into Exclusive Talks to Sell Stake in 3Sun Solar Plant Enel SpA (BIT:ENEL) has entered into exclusive talks to sell a stake in 3Sun Solar, its photovoltaic panel production site in Sicily, Chief Executive Francesco Starace said on February 6, 2023. "We will make an announcement in the coming days," Starace said on the sidelines of an Enel event. Starace also said he thought it was time for the West to reduce its dependence on China for solar panel production. Announcement • Feb 03
EDP Brasil to Look At Possibility of Buying Enel-Owned Power Distributor in Ceara EDP - Energias do Brasil S.A. (BOVESPA:ENBR3) may sell stake in coal-fired PECEM Power Plant, but no decision has been taken so far, CEO says. EDP Brasil will look at possibility of buying Enel SpA (BIT:ENEL)-owned power distributor in Ceara, CEO says. Board Change • Jan 31
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Director Samuel Leupold was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Aug 04
Investor sentiment deteriorated over the past week After last week's 30% share price decline to Mex$104, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 10x in the Electric Utilities industry in South America. Total loss to shareholders of 11% over the past three years. Reported Earnings • Jul 31
Second quarter 2022 earnings released: EPS: €0.024 (vs €0.057 in 2Q 2021) Second quarter 2022 results: EPS: €0.024 (down from €0.057 in 2Q 2021). Revenue: €32.3b (up 153% from 2Q 2021). Net income: €263.0m (down 56% from 2Q 2021). Profit margin: 0.8% (down from 4.7% in 2Q 2021). Over the next year, revenue is expected to shrink by 21% compared to a 11% decline forecast for the industry in Mexico. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has increased by 2% per year. Board Change • Jul 18
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Director Samuel Leupold was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Jul 11
Upcoming dividend of €0.19 per share Eligible shareholders must have bought the stock before 18 July 2022. Payment date: 20 July 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 7.2%. Within top quartile of Mexican dividend payers (6.0%). Higher than average of industry peers (6.1%). Board Change • May 31
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Director Samuel Leupold was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Feb 16
High number of new and inexperienced directors There are 8 new directors who have joined the board in the last 3 years. The company's board is composed of: 8 new directors. 4 experienced directors. No highly experienced directors. Independent Director Anna Svelto is the most experienced director on the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Dec 14
High number of new and inexperienced directors There are 8 new directors who have joined the board in the last 3 years. The company's board is composed of: 8 new directors. 4 experienced directors. No highly experienced directors. Independent Director Anna Svelto is the most experienced director on the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Sep 04
High number of new and inexperienced directors There are 8 new directors who have joined the board in the last 3 years. The company's board is composed of: 8 new directors. 4 experienced directors. No highly experienced directors. Independent Director Anna Svelto is the most experienced director on the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Upcoming Dividend • Jul 12
Upcoming dividend of €0.18 per share Eligible shareholders must have bought the stock before 19 July 2021. Payment date: 21 July 2021. Trailing yield: 4.6%. Lower than top quartile of Mexican dividend payers (5.0%). In line with average of industry peers (4.5%). Reported Earnings • May 09
First quarter 2021 earnings released: EPS €0.12 (vs €0.12 in 1Q 2020) The company reported a soft first quarter result with weaker earnings and revenues, although profit margins were improved. First quarter 2021 results: Revenue: €17.1b (down 14% from 1Q 2020). Net income: €1.18b (down 5.7% from 1Q 2020). Profit margin: 6.9% (up from 6.2% in 1Q 2020). 
