Enel shares

Enel and the financial markets

  2020 2019
Gross operating profit per share (euro) 1.65 1.74
Operating profit per share (euro) 0.82 0.68
Group profit per share (euro) 0.26 0.21
Group ordinary profit per share (euro) 0.51 0.47
Dividend per share (euro) (1) 0.358 0.328
Group equity per share (euro) 2.79 2.99
Share price - 12-month high (euro) 8.57 7.21
Share price - 12-month low (euro) 5.23 5.08
Average share price in December (euro) 8.17 6.89
Market capitalization (millions of euro) (2) 83,110 70,047
No. of shares outstanding at December 31 (millions) (3) 10,167 10,167

(1) Dividend approved by the Board of Directors on March 18, 2021 and proposed to the Shareholders’ Meeting of May 20, 2021 at single call. The amount includes the interim dividend of €0.175 per share approved by the Board of Directors on November 5, 2020 and paid from January 20, 2021.
(2) Calculated on average share price in December.
(3) The number of shares includes 3,269,152 treasury shares in 2020 and 1,549,152 treasury shares in 2019.

    Current(1) at Dec. 31, 2020 at Dec. 31, 2019 at Dec. 31, 2018
Rating          
Standard & Poors Outlook STABLE STABLE STABLE STABLE
  Medium/long-term BBB+ BBB+ BBB+ BBB+
  Short-term   A-2 A-2 A-2
Moodys Outlook STABLE POSITIVE POSITIVE STABLE
  Medium/long-term Baa1 Baa2 Baa2 Baa2
  Short-term   - - -
Fitch Outlook STABLE STABLE STABLE STABLE
  Medium/long-term A- A- A- BBB+
  Short-term   F2 F2 F2

(1) Figures updated to January 29, 2021.

The global economic context in 2020 was strongly impacted by the COVID-19 pandemic and the consequent restrictions on mobility, production and services. All of this caused a worldwide recession of unprecedented severity in recent history, leading to an estimated 4% contraction in world GDP on an annual basis in 2020.
The specter of the crisis prompted the world’s governments to adopt accommodative fiscal and monetary measures to support the various productive sectors, the labor market and domestic demand.
In particular, the United States experienced a contraction of 3.5% in GDP and an increase in the unemployment rate of over 8 percentage points, reaching the record levels registered during the 2008-2009 financial crisis. In response to this recession, the government adopted major expansionary fiscal policies to support families and businesses.
In the euro area, the pandemic caused an estimated fall in GDP of 6.8% and inflation stood at 0.3% on an annual basis in 2020, leaving many countries experiencing deflation. The labor market, however, proved more resilient thanks to subsidies from many governments.
Both the Fed and the ECB intend to keep their main interest rates low until inflation stabilizes at around 2%. Furthermore, in July the European Council reached an agreement on the Next Generation EU, a recovery plan that includes €750 billion in funding.
As for Latin America, the pandemic crisis and the various responses of individual governments have created a rather diverse macroeconomic picture.
The world economic outlook for 2021 is more optimistic, albeit still burdened by the COVID-19 pandemic. Growth projections will depend significantly on the development of new vaccines and the speed of vaccination campaigns in different countries.

The crisis has also impacted the financial markets. The main European equity indices closed 2020 with losses. The Italian FTSE-MIB index slipped 5.4%, the Spanish Ibex35 index declined 15.5%, and the French CAC40 index was down 7.1%. By contrast the German DAX30 rose 3.5%.

The euro-area Utilities sector (EURO STOXX Utilities) closed the year with an increase of 9.8%.

Finally, as regards the Enel stock, 2020 ended with a price of €8.276 per share, an increase of 17.0% compared with the previous year, outperforming both the European and Italian sector indices.
At the end of 2020 Enel had a weight of 14.9% in the FTSE-MIB and 21.7% in the EURO STOXX Utilities.

On January 22, 2020 Enel paid an interim dividend of €0.16 per share from 2019 profits and on July 22, 2020 it paid the balance of the dividend for that year in the amount of €0.168. Total dividends distributed in 2020 amounted to €0.328 per share, about 17% higher than the €0.28 per share distributed in 2019.
In relation to ordinary profit for 2020, on January 20, 2021 an interim dividend of €0.175 was paid, while the balance of the dividend is scheduled for payment on July 21, 2021.

The outlook for investors is changing rapidly: the changes taking place and the challenges the world presents us today are also impacting the way we invest. Companies are no longer seen as closed systems, but rather as open systems that generate wealth through interaction with the environment and the communities in which they operate, and towards which they are accountable.
In this context, Enel’s pursuit of a strategy that, through decarbonization and seizing the opportunities offered by electrification, seeks to create value for customers, society and the environment has been understood and appreciated by institutional investors, whose stake in Enel at December 31, 2020 reached an all-time high of 62.3% (compared with 60.3% at December 31, 2019), while the share of individual investors has fallen to a record low of 14.1% (compared with 16.1% at December 31, 2019). The interest of the Ministry for the Economy and Finance was unchanged at 23.6%.
The number of Environmental, Social and Governance (ESG) investors continued to rise steadily: at December 31, 2020, socially responsible investors (SRIs) held about 14.6% of share capital (against 10.8% at December 31, 2019), while investors who have signed the Principles for Responsible Investment represent 47.8% of share capital (43% at December 31, 2019).

For further information we invite you to visit the Investor Relations section of our corporate website (http://www.enel.com/investors) and download the “Enel Investor Relations” app, which contains financial data, presentations, real-time updates of the share price, information on the composition of corporate bodies and the rules of Shareholders’ Meetings, as well as periodic updates on corporate governance issues.

Developments in ESG investors

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 EURO STOXX Utilities and FTSE-MIB indices from January 1, 2020 to January 31, 2021