Enel and the financial markets
|Gross operating margin per share (euro)||1.50||1.63|
|Operating income per share (euro)||0.88||0.82|
|Group net earnings per share (euro)||0.25||0.23|
|Group net ordinary earnings per share (euro)||0.29||0.32|
|Dividend per share (euro)||0.18 (1)||0.14|
|Group shareholders’ equity per share (euro)||3.42||3.44|
|Share price - 12-month high (euro)||4.19||4.46|
|Share price - 12-month low (euro)||3.40||3.44|
|Average share price in December (euro)||4.02||3.96|
|Market capitalization (millions of euro) (2)||40,910||37,220|
|No. of shares outstanding at December 31 (millions)||10,167||9,403|
(1) Dividend approved by the Shareholders’ Meeting on May 4, 2017.
(2) Calculated on average share price in December.
|Current (1)||al 31.12.2016||al 31.12.2015||al 31.12.2014|
|Enel stock weighting in:|
|- FTSE-MIB index||10.70%||11.41%||9.05%||9.45%|
|- Bloomberg World Electric index||3.08%||3.26%||3.04%||2.89%|
|Standard & Poor’s||Outlook||Stable||Stable||Positive Stable|
(1) es updated to January 31, 2017.
During 2016 global economic conditions improved slightly, although several factors of uncertainty remain that could weigh on the outlook for growth. These include the normalization of US monetary policy, where the Federal Reserve has reduced the monetary stimulus, with a consequent impact on the evolution of exchange rates that could engender turbulence in the emerging economies, with a consequent slowdown in economic growth. In Europe, uncertainty re
mains high about the negotiations that will define the new relationship between the European Union and the United Kingdom.
Euro area growth continued and strengthened in the course of 2016, although it remains at a moderate pace. The expansion was mainly driven by the internal components of demand fueled by the extension and enhancement by the European Central Bank of expansionary policies implemented in previous years. Inflation rose in December but remains below the target level of the ECB.
In Italy, the recovery continued at a gradual pace, thanks to the improvement in domestic demand.
Overall, the risks to global growth are still high. In particular, there remains a considerable risk that economic expansion could be affected by the emergence of protectionist pressures, as well as possible turbulence in emerging economies.
In this economic environment, the main European equity indices closed 2016 with contrasting results.
The FTSE Italia All Share index posted a loss of 10%, while the Ibex35 index in Spain fell by 2%. Conversely, the main indices in continental Europe posted gains for 2016 (the CAC40 in France rose by 5%, while Germany’s DAX30 showed a gain of 7%). The euro-area utilities segment closed the year with a fall of 8%. As regards Enel shares, 2016 ended with the stock price at €4.188, up 7.6% on the previous year. The Enel stock was one of the best performers among its European peers, significantly outperforming the sector index for the euro area. On June 22, 2016 Enel paid the dividend on 2015 profits of €0.16 a share, up 14% on the dividend distributed the previous year. In addition, on November 10, 2016, on the occasion of the approval of the interim financial report, the Enel Board of Directors authorized the start of an interim dividend policy that provides for the distribution of an interim dividend for 2016. More specifically, on January 25, 2017 an interim dividend of €0.09 euro per share on 2016 profits was paid, while payment of the balance is scheduled to occur on July 26, 2017.
At December 31, 2016, the Ministry for the Economy and Finance held 23.6% of Enel, while institutional investors held 54.0% and individual investors held the remaining 22.4%. For further information we invite you to visit the Investor Relations section of our corporate website (http://www.enel. com/en/investors.html), which contains financial data, presentations, real-time updates of the share price, information on corporate bodies and the rules 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 email at firstname.lastname@example.org) and for institutional investors (phone: +39-0683051; e-mail: email@example.com).
Performance of Enel share price and the Bloomberg World Electric, Euro STOXX Utilities and FTSE Italia All Share indices from January 1, 2016 to January 31, 2017