Endesa Announces Full Year 2007 Results

Business Wire, Feb 21, 2008

NEW YORK -- Endesa S.A. announces its full year 2007 results as follows:

ENDESA GENERATES NET INCOME OF EURO 2,675 MILLION IN 2007

Net income up 14.2% on a like-for-like basis.

2007 net income is Euro 294 million lower than the year earlier figure, although this included Euro 719 million related to capital gains and other extraordinary income.

EBITDA GROWTH REFLECTS POSITIVE PERFORMANCE OF THE COMPANY'S BUSINESSES

EBITDA(*) came to Euro 7,485 million, an increase of 8.3% on a like-for-like basis and 4.9% higher than the figure reported in FY2006.

SHARP JUMP IN CASH FLOW

Operating cash flow(*) totalled Euro 5,258 million, up 18.4% on FY2006 on a like-for-like basis.

SOLID PERFORMANCE OF ALL BUSINESS LINES DESPITE CHALLENGING ENVIRONMENT

Net income from business in Spain and Portugal stood at Euro 1,785 million, an increase of 13.7% on a like-for-like basis. Income from natural gas distribution and supply activities offset the more moderate growth in demand for electricity and lower pool prices.

In Europe, the bottom line rose 12.8% to Euro 419 million on a like-for-like basis. Unfavourable demand conditions were exceeded by mix generation improvement in Italy and higher supply margins in France.

Net income from business in Latin America increased by 17.4% to Euro 471 million on a like-for-like basis. EBITDA and EBIT also picked up significantly: 15.8% and 18.0% respectively. Generation mix, demand increases and operating improvements successfully offset low hydro condition and gas shortages.

(*) Includes ongoing and interrupted activities

Note: Full details and financial statements of the press release are available for download from its corporate website at www.endesa.es