Other information

Non-EU subsidiaries

At the date of approval by the Board of Directors of the financial statements of Enel SpA for 2020 – March 18, 2021 – the Enel Group meets the “conditions for the listing of shares of companies with control over companies established and regulated under the law of non-EU countries” (hereinafter “non-EU subsidiaries”) established by CONSOB with Article 15 of the Markets Regulation (approved with Resolution no. 20249 of December 28, 2017).
Specifically, we report that:

  • in application of the materiality criteria for the purposes of consolidation referred to in Article 15, paragraph 2, of the CONSOB Markets Regulation, 40 non-EU subsidiaries of the Enel Group have been identified to which the rules in question apply on the basis of the consolidated accounts of the Enel Group at December 31, 2019;
  • they are: 1) Ampla Energia e Serviços SA (a Brazilian company belonging to Enel Américas); 2) Celg Distribuição SA - Celg D (a Brazilian company belonging to Enel Américas); 3) Cimarron Bend Wind Holdings I LLC (a United States company belonging to Enel North America); 4) Codensa SA ESP (a Colombian company belonging to Enel Américas); 5) Companhia Energética do Ceará - Coelce (a Brazilian company belonging to Enel Américas); 6) EGPNA Preferred Wind Holdings LLC (a United States company belonging to Enel North America); 7) Eletropaulo Metropolitana Eletricidade de São Paulo SA (a Brazilian company belonging to Enel Américas); 8) Emgesa SA ESP (a Colombian company belonging to Enel Américas); 9) Empresa Distribuidora Sur SA - Edesur (an Argentine company belonging to Enel Américas); 10) Empresa Eléctrica Panguipulli SA (a company merged on July 1, 2020 into Parque Eólico Taltal SpA, which on August 1, 2020 was in turn merged into Almeyda Solar SpA, which on January 1, 2021 was merged into Enel Green Power Chile SA); 11) Enel Américas SA (a Chilean company directly controlled by Enel SpA); 12) Enel Brasil SA (a Brazilian company belonging to Enel Américas); 13) Enel Chile SA (a Chilean company directly controlled by Enel SpA); 14) Enel Distribución Chile SA (a Chilean company belonging to Enel Chile); 15) Enel Distribución Perú SAA (a Peruvian company belonging to Enel Américas); 16) Enel Finance America LLC (a United States company belonging to Enel North America); 17) Enel Fortuna SA (a Panamanian company belonging to EGP Américas); 18) Enel Generación Chile SA (a Chilean company belonging to Enel Chile); 19) Enel Generación Costanera SA (an Argentine company belonging to Enel Américas); 20) Enel Generación El Chocón SA (an Argentine company belonging to Enel Américas); 21) Enel Generación Perú SAA (a Peruvian company belonging to Enel Américas); 22) Enel Green Power Brasil Participações Ltda (a Brazilian company belonging to EGP Américas); 23) Enel Green Power Chile Ltda (a company merged on March 4, 2020 into Enel Green Power del Sur SpA, renamed Enel Green Power Chile SA); 24) Enel Green Power Chile SA (formerly Enel Green Power del Sur SpA, a Chilean company belonging to Enel Chile); 25) Enel Green Power Diamond Vista Wind Project LLC (a United States company belonging to Enel North America); 26) Enel Green Power México S de RL de Cv (a Mexican company belonging to Enel Green Power); 27) Enel Green Power Perú SAC (a Peruvian company belonging to EGP Américas); 28) Enel Green Power Rattlesnake Creek Wind Project LLC (a United States company belonging to Enel North America); 29) Enel Green Power RSA (Pty) Ltd (a South African company belonging to Enel Green Power); 30) Enel Green Power RSA 2 (RF) (Pty) Ltd (a South African company belonging to Enel Green Power); 31) Enel Kansas LLC (a United States company belonging to Enel North America); 32) Enel North America Inc. (a United States company directly controlled by Enel SpA); 33) Enel Perú SAC (a Peruvian company belonging to Enel Américas); 34) Enel Russia PJSC (a Russian company directly controlled by Enel SpA); 35) Enel X North America Inc. (a United States company belonging to Enel North America); 36) Geotérmica del Norte SA (a Chilean company belonging to Enel Chile); 37) High Lonesome Wind Power LLC (a United States company belonging to Enel North America); 38) Red Dirt Wind Project LLC (a United States company belonging to Enel North America); 39) Rock Creek Wind Project LLC (a United States company belonging to Enel North America); 40) Thunder Ranch Wind Project LLC (a United States company belonging to Enel North America);
  • the balance sheet and income statement of the above companies included in the reporting package used for the purpose of preparing the 2020 consolidated financial statements of the Enel Group will be made available to the public by Enel SpA (pursuant to Article 15, paragraph 1a) of the Markets Regulation) at least 15 days prior to the day scheduled for the Ordinary Shareholders’ Meeting called to approve the 2020 financial statements of Enel SpA together with the summary statements showing the essential data of the latest annual financial statements of subsidiaries and associated companies (pursuant to the applicable provisions of Article 77, paragraph 2-bis, of the CONSOB Issuers Regulation approved with Resolution no. 11971 of May 14, 1999);
  • the articles of association and composition and powers of the control bodies from all the above subsidiaries have been obtained by Enel SpA and are available in updated form to CONSOB where the latter should request such information for supervisory purposes (pursuant to Article 15, paragraph 1b) of the Markets Regulation);
  • Enel SpA has verified that the above subsidiaries:
    • provide the auditor of the Parent, Enel SpA, with information necessary to perform annual and interim audits of Enel SpA (pursuant to Article 15, paragraph 1 (letter c-i) of the Markets Regulation);
    • use an administrative and accounting system appropriate for regular reporting to the management and auditor of the Parent, Enel SpA, of income statement, balance sheet and financial data necessary for preparation of the consolidated financial statements (pursuant to Article 15, paragraph 1 (letter c-ii) of the Markets Regulation).

Disclosures on financial instruments

The disclosures on financial instruments required by Article 2428, paragraph 2, no. 6-bis of the Civil Code are reported in the following notes to the consolidated financial statements: 44 “Financial instruments by category”, 45 “Risk management”, 47 “Derivatives and hedge accounting” and 48 “Assets and liabilities measured at fair value”.

Atypical or unusual operations

Pursuant to the CONSOB Notice of July 28, 2006, the Group did not carry out any atypical or unusual operations in 2020.
Such operations include transactions whose significance, size, nature of the counterparties, subject matter, method for calculating the transfer price or timing could give rise to doubts concerning the propriety and/or completeness of disclosure, conflicts of interest, preservation of company assets or protection of non-controlling shareholders.

Subsequent events

Significant events following the close of the year are discussed in Note 55 to the consolidated financial statements.

Transactions with related parties

For more information on transactions with related parties, please see Note 50 to the consolidated financial statements.

Research and development costs

Please see the “Innovation and digitalization” section of the “Performance & Metrics” chapter.

Reconciliation of equity and profit of Enel SpA and the corresponding consolidated figures

Pursuant to CONSOB Notice no. DEM/6064293 of July 28, 2006, the following table provides a reconciliation of Group profit for the year and equity with the corresponding figures for the Parent.

Millions of euro Income statement Equity Income statement Equity
  at Dec. 31, 2020 at Dec. 31, 2019
Separate financial statements - Enel SpA 2,326 30,743 4,792 29,586
Carrying amount of and impairment losses on consolidated equity investments 687 (85,641) 211 (82,098)
Equity and profit (calculated using the same accounting policies) of the consolidated companies and groups and those accounted for using the equity method, net of non-controlling interests 4,091 78,099 4,428 75,304
Translation reserve - (7,046) - (3,802)
Goodwill (274) 13,779 (27) 14,241
Intercompany dividends (4,146) - (7,160) -
Elimination of unrealized intercompany profits, net of tax effects and other minor adjustments (74) (1,609) (70) (2,854)
TOTAL ATTRIBUTABLE TO OWNERS OF THE PARENT 2,610 28,325 2,174 30,377
NON-CONTROLLING INTERESTS 1,012 14,032 1,302 16,561
CONSOLIDATED FINANCIAL STATEMENTS 3,622 42,357 3,476 46,938