Endesa

Endesa, S.A. (, originally an initialism for Empresa Nacional de Electricidad, S.A.) is a Spanish multinational electric utility company, the largest in the country. The firm, a majority-owned subsidiary of the Italian utility company Enel, has 10 million customers in Spain, with domestic annual generation of over 97,600 GWh from nuclear, fossil-fueled, hydroelectric, and renewable resource power plants. Internationally, it serves another 10 million customers and provides over 80,100 GWh annually. Total customers numbered 22.2 million as of December 31, 2004. It also markets energy in Europe. The company has additional interests in Spanish natural gas and telecommunications companies.

Endesa is one of the three large companies in the electricity sector in Spain, which together with Iberdrola and Naturgy, dominate around 90% of the national electricity market. Endesa carries out activities of generation, distribution and commercialization of electricity, natural gas and renewable energy through Enel Green Power.

History

The company was formed in 1944 as Empresa Nacional de Electricidad, S.A.; its first president was

Takeover

In September 2005, Barcelona-based Gas Natural made a bid for Endesa, whose board unanimously immediately rejected a €23 billion (£16 billion) offer.[5] On January 5, 2006, the Tribunal de Defensa de la Competencia (Competition Court, TDC) blocked the merger of Gas Natural and Endesa because of what it claimed would be irreversible negative impacts on competition. For most of 2006 and 2007, Endesa was the target of rival takeover bids by Germany's E.On and the Italian firm Enel. Despite Gas Natural being half the size of Endesa,[6] its bid was championed by the then-Socialist government as an all-Spanish deal, but Gas Natural decided to withdraw its bid after the German firm E.On offered a higher bid for the company.[7] The opposition People's Party of the day, and some Madrid politicians, criticised the bid, alleging political interference by the Socialists and a Catalan nationalist plot to control energy supply respectively.[5]

On 2 February 2007, E.On offered €38.75 for each share of Endesa. The German firm withdrew its bid two months later in exchange for a promise from rival bidders to sell it part of the Spanish utility's assets.[8] SNET, Endesa Italia and Enel's Viesgo were amongst the business units ultimately sold off to E.On.[8] Acciona and Enel succeeded in their joint bid to acquire Endesa in October 2007 for an estimated €42.5 billion[9] and they announced later that month that they jointly held 92.06% of Endesa's share capital[10] (25.01% Acciona and 67.05% Enel) as a result of their 100% takeover bid launched on Endesa, with the remaining 7.94% being free float.

The two companies initially jointly managed Endesa through an Acciona-controlled holding company which held 50.01% of Endesa's share capital, but in February 2009 Enel agreed to buy out Acciona's stake, taking its total ownership to over 92%.[11] Some Endesa assets will be sold off to Acciona as part of the deal.[11]

As of September 2015, Enel owned 70.1% of Endesa's share capital.[12]

type	Sociedad Anónima
traded as	bmad: ES0130670112 ELE
isin	isin: ES0130670112
foundation	18 November 1944, Ponferrada
location	Madrid, Spain
key people	José Damian Bogas (CEO), Juan Sánchez-Calero (Chairman)
industry	Public utility
services	Electricity generation and distribution
revenue	€21.424 billion (2025)‡R1R‡
operating income	€3.331 billion (2025)‡R1R‡
net income	€2.198 million (2025)‡R1R‡
assets	€37.482 billion (2025)‡R1R‡
equity	€1.271 billion (2025)‡R1R‡
num employees	8.946 (2025)‡R1R‡
parent	Enel
homepage	endesa.com

History

Takeover

Carbon intensity

Enel Green Power Spain

Electric vehicle

Board of directors

Chairman

See also

External links

References