Endesa (Spain)
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Headquarters (Madrid, Spain)
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| Sociedad Anónima | |
| Traded as | BMAD: ELE |
| Industry | Public utility |
| Founded | 1944 |
| Headquarters | Madrid, Spain |
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Key people
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Andrea Brentan (CEO), Borja Prado Eulate (Chairman) |
| Services | Electricity generation and distribution |
| Revenue | €31.20 billion (2013) |
| €5.031 billion (2010) | |
| Profit | €1.879 billion (2013) |
| Total assets | €62.59 billion (end 2010) |
| Total equity | €23.16 billion (end 2010) |
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Number of employees
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25,580 (average, 2010) |
| Parent | Enel |
| Website | endesa |
Endesa, S.A. (Spanish pronunciation: [enˈdesa], originally an initialism for Empresa Nacional de Electricidad, S.A.) is the largest electric utility company in Spain. 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.
The company was formed in 1944 as Empresa Nacional de Electricidad, S.A. and changed its name to Endesa, S.A. in 1997. In September 2004, it took control of the French company SNET (Société nationale d'électricité et de thermique). This was followed by the downsizing of 30% of SNET's employees.
In September 2005, Barcelona-based Gas Natural made a bid for Endesa, whose board unanimously immediately rejected a €23 billion (£16 billion) offer. 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, 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. 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.
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Wikipedia