Outlook

In line with the objectives of the Group in the pursuit of its strategies, Enel, in its capacity as a holding company, will continue to support the actions and programs of the operating companies. Consequently, Enel’s performance and financial structure will be affected by the results of its subsidiaries, which will benefit from the operational excellence programs under way and the synergies generated by the ever closer integration with Endesa.
The size that the Group has achieved and the validity of the strategies adopted lay a sound foundation to pursue its objectives as well to the opportunity to exploit the advantages of any acceleration in the economic recovery
In addition, Enel, through its subsidiaries, will continue to invest in research and development in the renewables sector, pursuing technological excellence without neglecting environmental issues. Enel will also continue the program for the return of nuclear power in Italy, in line with developments in the regulatory framework.
At the same time, the portfolio optimization efforts, designed to reinforce Enel’s financial position, which has been affected considerably by the international expansion policy pursued in recent years, will continue with, among other things, the leveraging of renewable energy assets through the sale of a minority stake in Enel Green Power.