| Financial Performance (€M) | 2015 | 20161 | 2017 | 2018 | 2019 | Δ anual average 2015-19 (%) | Δ 2018-2019 (%) |
|---|---|---|---|---|---|---|---|
| Revenues | 31,418.7 | 29,215.4 | 31,263.3 | 35,075.9 | 36,473.9 | 3.8 | 3.9 |
| Consolidated gross margin | 12,842.7 | 12,916.2 | 13,363.8 | 15,435.1 | 16,263.4 | 6.1 | 5.4 |
| Consolidated EBITDA | 7,397.4 | 7,807.7 | 7,318.7 | 9,348.9 | 10,104.0 | 8.1 | 8.1 |
| Networks (Regulated) EBITDA | 3,628.0 | 4,081.7 | 4,228.0 | 4,915.0 | 5,262.2 | 9.7 | 7.1 |
| Spain | 1,456.8 | 1,603.1 | 1,519.5 | 1,709.4 | 1,710.7 | 4.1 | 0.1 |
| United Kingdom | 1,138.0 | 976.2 | 886.0 | 919.4 | 986.8 | (3.5) | 7.3 |
| United States | 780.5 | 1,269.6 | 1,334.0 | 1,331.2 | 1,330.4 | 14.3 | (0.1) |
| Brazil | 252.7 | 232.8 | 488.5 | 955.0 | 1,234.3 | 48.7 | 29.2 |
| Renewables EBITDA2 | 1,647.2 | 1,500.2 | 1,754.8 | 2,445.5 | 2,386.0 | 9.7 | (2.4) |
| Spain | 473.2 | 497.4 | 615.6 | 918.5 | 736.1 | 11.7 | (19.9) |
| United Kingdom | 438.1 | 267.0 | 391.7 | 517.5 | 525.0 | 4.6 | 1.4 |
| United States | 570.9 | 563.6 | 529.7 | 573.1 | 591.3 | 0.9 | 3.2 |
| Brazil | 26.9 | 24.9 | 66.0 | 129.4 | 125.0 | 46.8 | (3.4) |
| Mexico | 43.1 | 52.0 | 52.5 | 65.4 | 85.6 | 18.7 | 30.9 |
| International | 95.0 | 95.3 | 99.3 | 241.6 | 323.0 | 35.8 | 33.7 |
| Wholesale and Retail (Liberalised) EBITDA2 | 2,323.1 | 2,253.3 | 1,463.8 | 2,038.3 | 2,468.7 | 1.5 | 21.1 |
| Spain | 1,504.6 | 1,520.5 | 779.4 | 1,000.7 | 1,557.7 | 0.9 | 55.7 |
| United Kingdom | 421.7 | 293.6 | 108.1 | 307.2 | 110.1 | (28.5) | (64.2) |
| Brazil | – | (3.1) | 50.9 | 92.0 | 63.8 | – | (30.6) |
| Mexico | 455.2 | 436.2 | 525.4 | 638.4 | 762.0 | 13.7 | 19.4 |
| International | – | – | – | (25.7) | (25.0) | – | 2.7 |
| Other businesses EBITDA | (68.9) | (105.2) | 13.0 | 29.0 | 28.1 | – | (3.1) |
| Corporation EBITDA and ajustments | (190.4) | 83.8 | (140.9) | (78.2) | (41.0) | 31.9 | 47.6 |
| Amortisation, depreciation provisions and other | (3,568.1) | (3,253.7) | (4,606.1) | (3,909.5) | (4,226.8) | (4.3) | (8.1) |
| Operating profit (EBIT) | 3,829.3 | 4,554.0 | 2,712.6 | 5,439.4 | 5,877.2 | 11.3 | 8.0 |
| Financial results | (1,023.1) | (903.4) | (937.1) | (1,156.1) | (1,300.1) | (6.2) | (12.5) |
| Results from companies consolidated by the equity method (net of taxes) | 55.3 | 48.7 | (28.7) | 55.9 | (51.4) | – | – |
| Result from non-current assets | 125.1 | 48.2 | 279.1 | 8.9 | 202.8 | 12.8 | 2,178.7 |
| Pre-tax profit (EBT) | 2,986.6 | 3,747.5 | 2,025.9 | 4,348.0 | 4,728.6 | 12.2 | 8.8 |
| Corporate income tax | (527.1) | (904.6) | 1,397.1 | (959.4) | (914.0) | (14.8) | 4.7 |
| Minority interests | (38.0) | (137.9) | (365.9) | (323.3) | (408.2) | (81.0) | (26.3) |
| Net attributable profit | 2,421.6 | 2,705.0 | 2,804.0 | 3,014.0 | 3,406.3 | 8.9 | 13.0 |
| Total assets | 104,664.1 | 106,706.2 | 110,688.6 | 113,037.9 | 122,369.0 | 4.0 | 8.3 |
| Shareholder's equity | 40,956.1 | 40,687.4 | 42,733.2 | 43,976.6 | 47,194.7 | 3.6 | 7.3 |
| Gross investments | 3,819.21 | 5,008.9 | 6,631.6 | 6,172.5 | 8,157.7 | 20.9 | 32.2 |
| Funds from Operations (FFO) | 5,906.7 | 6,310.8 | 6,479.4 | 7,328.4 | 8,059.6 | 8.1 | 10.0 |
| Adjusted net Bank borrowings | 28,067 | 29,230 | 32,856 | 34,149 | 37,769 | 8.4 | 13.5 |
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| Financial ratios | 2015 | 2016 | 2017 | 2018 | 2019 | Δ Annual average 2015-19 (%) | Δ 2018-2019 (%) |
|---|---|---|---|---|---|---|---|
| EBITDA margin (EBITDA/revenues) (%) | 23.5 | 26.7 | 23.4 | 26.7 | 27.7 | 4.2 | 3.7 |
| Net profit margin (Net profit/Revenues) (%) | 7.7 | 9.3 | 9.0 | 8.6 | 9.3 | 4.9 | 8.7 |
| NOE/Gross margin (%) | 29.8 | 27.7 | 31.2 | 26.9 | 26.6 | (2.8) | (1.1) |
| Net financial debt / EBITDA (multiple) | 3.79 | 3.77 | 4.49 | 3.653 | 3.74 | (0.3) | 2.4 |
| Financial leveraging (%) | 40.7 | 42.0 | 43.4 | 43.73 | 44.8 | 2.5 | 2.5 |
| Funds from Operations (FFO)/Net financial debt (NFD) | 21.0 | 21.5 | 19.7 | 21.53 | 21.5 | 0.6 | (0.1) |
| Retained cash flow (RCF/FND) (%) | 18.7 | 19.1 | 17.2 | 20.23 | 20.0 | 1.7 | (1.1) |
| Return of equity (ROE) (%) | 6.3 | 7.3 | 7.8 | 8.43 | 9.2 | 9.8 | 9.7 |
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| Stock market performance | 2015 | 2016 | 2017 | 2018 | 2019 | Δ Annual average 2015-19 (%) | Δ 2018-2019 (%) |
|---|---|---|---|---|---|---|---|
| Stock market capitalisation (€M) | 41,506 | 39,661 | 40,811 | 44,898 | 58,404 | 8.9 | 30.1 |
| Number of shares at end of period (millions) | 6,337 | 6,362 | 6,318 | 6,398 | 6,362 | 0.1 | (0.6) |
| Share price (€) | 6.55 | 6.23 | 6.46 | 7.02 | 9.18 | 8.8 | 30.8 |
| Earning per share (EPS) | 0.37 | 0.42 | 0.44 | 0.47 | 0.54 | 9.9 | 14.9 |
| Dividend per share (DPS) | 0.276 | 0.286 | 0.317 | 0.331 | 0.356 | 6.6 | 7.6 |
| Dividend yield (%) | 4.21 | 4.59 | 4.91 | 4.72 | 3.88 | (2.0) | (17.8) |
| Total dividend (including cash payments) (€M) | 1,732 | 1,966 | 1,966 | 2,077 | 2,247 | 6.7 | 8.2 |
| Payout ratio (%) | 71.5 | 72.7 | 71.2 | 68.9 | 66.0 | (2.0) | (4.2) |
| Share price / net earnings per share (PER) | 17.17 | 14.66 | 14.55 | 14.90 | 17.15 | 0.0 | 15.1 |
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| Operating performance | 20151 | 20162 | 20172 | 20182 | 20192 | Δ Annual average 2015-19 (%) | Δ 2018-2019 (%) |
|---|---|---|---|---|---|---|---|
| Total installed capacity (MW) | 46,361 | 47,049 | 48,447 | 46,694 | 52,082 | 3.0 | 11.5 |
| Net Own Capacity | 42,019 | 42,707 | 43,811 | 42,058 | 45,702 | 2.1 | 8.7 |
| Net Thrid-Party Capacity | 4,342 | 4,342 | 4,636 | 4,636 | 6,380 | 10.1 | 37.6 |
| Total net Output (GWh) | 134,374 | 142,466 | 137,549 | 145,605 | 151,714 | 3.1 | 4.2 |
| Net Own Production | 101,688 | 112,069 | 105,239 | 115,134 | 114,030 | 2.9 | (1.0) |
| Net Third-Party Production | 32,686 | 30,397 | 32,310 | 30,471 | 37,684 | 3.6 | 23.7 |
| Electric power distributed (GWh)3 | 224,749 | 229,920 | 230,151 | 233,409 | 233,502 | 1.0 | 0.0 |
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| Environmental performance | 20151 | 20162 | 20172 | 20182 | 20192 | Δ Annual average 2015-19 (%) | Δ 2018-2019 (%) |
|---|---|---|---|---|---|---|---|
| Own emission-free installed capacity (%)4 | 69.6 | 73.0 | 73.5 | 77.0 | 76.8 | 2.5 | (0.3) |
| Own emission-free output (%)4 | 68.5 | 71.9 | 70.1 | 73.8 | 72.6 | 1.5 | (1.6) |
| Own specific CO2 emissions (t/GWh)4 | 185 | 131 | 136 | 112 | 110 | (12.2) | (1.8) |
| Fuel consumption (M Tep) | 19,001 | 11,668 | 12,055 | 12,505 | 17,018 | (2.7) | 62.0 |
| Environmental investments (€M) | 1,014.2 | 2,262.2 | 2,239.9 | 2,132.6 | 3,711.7 | 38.3 | 74.0 |
| Environmental expenses (€M) | 669.2 | 527.1 | 513.2 | 549.7 | 705.9 | 1.1 | 27.4 |
| Energy produced under certified environmental management systems (%) | 84.2 | 82.4 | 79.8 | 80.0 | 83.4 | (0.2) | 4.3 |
| Water use/overall production (m3/GWh) | 533 | 573 | 597 | 604 | 583 | 2.3 | (3.5) |
| Direct emissions of CO2· Scope 1 (kt) | 19,929 | 15,637 | 15,020 | 13,328 | 12,928 | (10.3) | (3.0) |
| Indirect emissions of CO2· Scope 2 (kt) | 963 | 4,504 | 3,415 | 2,544 | 2,154 | 22.3 | (15.3) |
| CO2 avoided due to efficiency initiatives (kt) | 19,269 | 16,853 | 23,460 | 19,485 | 22,920 | 4.4 | 17.6 |
| SO2 emissions (t/GWh) | 0.125 | 0.047 | 0.038 | 0.023 | 0.011 | (45.5) | (52.2) |
| NOx emissions (t/GWh) | 0.230 | 0.140 | 0.113 | 0.085 | 0.3265 | 9.1 | 283.5 |
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| Social Performance | 20151 | 20162 | 20172 | 20182 | 20192 | Δ Annual average 2015-19 (%) | Δ 2018-2019 (%) |
|---|---|---|---|---|---|---|---|
| Consumers (millons)3 | 33.0 | 33.1 | 33.0 | 33.6 | 34.0 | 0.7 | 1.2 |
| Electric power | 28.9 | 29.0 | 29.0 | 29.5 | 29.8 | 0.8 | 1.0 |
| Spain | 10.3 | 10.2 | 10.2 | 10.1 | 10.1 | (0.5) | (0.2) |
| United Kingdom | 3.3 | 3.2 | 3.0 | 3.0 | 2.8 | (3.9) | (6.3) |
| United States | 2.2 | 2.2 | 2.2 | 2.3 | 2.3 | 0.7 | 0.4 |
| Brazil | 13.1 | 13.4 | 13.6 | 13.8 | 14.0 | 1.8 | 1.8 |
| IEI | – | – | – | 0.3 | 0.6 | – | 100 |
| Gas | 4.1 | 4.1 | 4.0 | 4.1 | 4.2 | 0.6 | 2.4 |
| Spain | 0.9 | 0.9 | 1.0 | 1.0 | 1.0 | 3.9 | 1.9 |
| United Kingdom | 2.2 | 2.1 | 2.0 | 2.0 | 1.9 | (3.7) | (6.0) |
| United States | 1.0 | 1.0 | 1.0 | 1.0 | 1.0 | 0.5 | 3.0 |
| IEI | – | – | – | 0.1 | 0.2 | – | 233.3 |
| Number of employees | 30,938 | 34,082 | 34,255 | 34,078 | 35,374 | 3.4 | 3.8 |
| Permanent contracts (%) | 98.4 | 98.4 | 99.4 | 99.0 | 99.1 | 0.2 | 0.1 |
| Employees with collective bargaining agreement (%) | 76.6 | 79.3 | 77.8 | 78.9 | 78.7 | 0.7 | (0.3) |
| Employee tumover | 7.0 | 7.3 | 7.9 | 10.7 | 6.6 | (1.4) | (38.1) |
| Diversity (men/women) | 76/24 | 76/24 | 77/23 | 77/23 | 77/23 | - | - |
| Injury rate (IR) | 1.4 | 1.8 | 1.8 | 1.4 | 1.3 | (1.3) | (2.9) |
| Hours of training (millions of hours) | 1.0 | 1.4 | 1.5 | 1.6 | 1.8 | 15.9 | 11.9 |
| Hours of training per employee trained (h) | 46.0 | 45.3 | 41.8 | 45.2 | 54.9 | 4.5 | 21.3 |
| Funds for social development (€M) | 46.0 | 106.7 | 341.2 | 243.1 | 92.4 | 19.0 | (62.0) |
| Contributions to society (€M) | 38.0 | 57.7 | 63.0 | 53.5 | 52.3 | 8.3 | (2.2) |
| Rural electrification programmes (€M) | 8.0 | 49.0 | 278.2 | 189.6 | 40.1 | 49.6 | (78.9) |
| Investments in R&D (€M) | 200 | 211 | 246 | 267 | 280 | 8.8 | 5.0 |
| General procurement (€M billed) | 5,093 | 7,508 | 8,648 | 7,753 | 8,716 | 14.4 | 12.4 |
| Procurement from local suppliers (%) | 85 | 84 | 88 | 85 | 89 | 1.2 | 4.7 |
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(1) Takes into account 39% of Neoenergia in 2015 (unless otherwise noted).
(2) Takes into account 100% of Neoenergia in 2016 in order to improve the comparability of the data.
(3) Consumers: for electric power, total number of customers is used where there are areas of electricity distribution and retailing, supply points are used for the other areas. For gas: total number of gas customers is used, except for the United States, where total number of supply points is used.
(4) Calculated on own production.
(5) Change in method for calculating NOx emissions in Mexico.