Enel and the financial markets

 2013 2012 restated 
Gross operating margin per share (euro)  1.81  1.68 
Operating income per share (euro)  1.06  0.72 
Group net earnings per share (euro)  0.34  0.03 
Group net ordinary earnings per share (euro)  0.33  0.30 
Dividend per share (euro) (1)  0.13  0.15 
Group shareholders’ equity per share (euro)  3.82  3.80 
Share price - 12-month high (euro)  3.38  3.31 
Share price - 12-month low (euro)  2.30  2.03 
Average share price in December (euro)  3.10  3.05 
Market capitalization (2) (millions of euro)  29,150  28,774 
No. of shares outstanding at December 31 (millions)  9,403  9,403 
Enel Open Data

(1) Dividend authorized by the Shareholders' Meeting on May 22, 2014.
(2) Calculated on average share price in December.

 Current (1) at Dec. 31, 2013 at Dec. 31, 2012at Dec. 31, 2011
Enel stock weighting in:           
- FTSE MIB index    9.17%  8.82%  11.02%  12.98% 
- STOXX Europe 600 Utilities index    7.61%  7.61%  8.33%  8.25% 
- Bloomberg World Electric index    3.31%  3.12%  3.17%  2.93% 
Standard & Poor’s Outlook  Stable  Stable  Negative  Watch Negative 
  Medium/long-term  BBB  BBB  BBB+  A-
  Short-term  A-2  A-2  A-2  A-2 
Moody’s Outlook  Negative  Negative  Negative  Negative 
  Medium/long-term  Baa2  Baa2  Baa2  A3 
  Short-term  P2  P2  P2  P2 
Fitch  Outlook  Watch Negative  Watch Negative  Watch Negative  Stable 
  Medium/long-term  BBB+  BBB+  BBB+  A-
  Short-term  F2  F2  F2  F2 
Enel Open Data

(1) Figures updated to January 31, 2014.

In 2013, the world’s macroeconomic systems expanded at a relatively moderate pace, with variations depending on geographical area.

The economy of the United States strengthened substantially. The improvement enabled the Federal Reserve to taper its securities purchases without increasing volatility on the financial markets.

In the emerging countries, economic growth differed considerably: rapid in China and modest in the other developing economies (notably in Brazil and Russia).

The euro area saw its economy begin a weak recovery, with enduring signs of fragility.

For Italy, 2013 ended with a further contraction in GDP.

However, in the 3rd Quarter of the year the decline in GDP under way since the summer of 2011 came to an end.

The general improvement in the advanced economies fostered a narrowing of risk premiums in both public- and private- sector debt markets and spurred a rise in the financial markets. The strains on the sovereign debt of the southern European countries eased significantly over the course of 2013.

The main European stock indices closed 2013 with substantial gains. The FTSE Italia All Share index in Italy ended the year with a gain of 18%.

In this context share prices in the European utilities segment rose more moderately, posting a gain of about 7% with significant differences in the performance of the shares making up the index (which ranged from a gain of more than 80% by EDF to a loss of about 15% by RWE).

As regards Enel shares, the year ended with the stock price virtually unchanged from the end of the previous year at €3.174, up 1% on the end of 2012. The decline in the price over the first nine months of 2013 was entirely reversed in the final quarter of the year.

On June 27, 2013, Enel paid off the dividend on 2012 profits of €0.15 per share.

At December 31, 2013 the Ministry for the Economy and Finance held 31.2% of Enel, while institutional investors 41.9% and individual investors the remaining 26.9%.

For further information we invite you to visit the Investor Relations section of our corporate website (www.enel.com/en-GB/investor/), which contains financial data, presentations, on-line updates of the share price, information on corporate bodies and the regulations of shareholders’ meetings, as well as periodic updates on corporate governance issues.

We have also created contact centers for private investors (which can be reached by phone at +39-0683054000 or by e-mail at azionisti.retail@enel.com) and for institutional investors (phone: +39-0683051; e-mail: investor.relations@enel.com).

Performance of Enel share price and the Bloomberg World Electric, STOXX Europe 600 Utilities and FTSE Italia All Share indices from January 1, 2013 to February 28, 2014

Performance of Enel share price and the Bloomberg World Electric, STOXX Europe 600 Utilities and FTSE Italia All Share indices from January 1, 2013 to February 28, 2014