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International Endesa
ENDESA, S.A. AND SUBSIDIARIES
FOR THE YEAR ENDED 31 DECEMBER 2020
ENDESA has prepared this Consolidated Management Report for the year ended 31 December 2020 in accordance with the “Guide for the Preparation of Management Reports of Listed Companies” issued by the Group of Experts appointed by the CNMV (National Securities Market Commission).
1. Position of the entity
1.1. Main areas of business
ENDESA, S.A. was established on 18 November 1944 and has its registered office at Calle Ribera del Loira 60, Madrid.
Its corporate object is the electricity business in its various industrial and commercial activities; the exploitation of primary energy resources of all types; the provision of industrial services or services related to its main business, particularly those relating to gas and those that are preparatory or complementary to the activities included in the corporate object, and the management of the business Group consisting of investments in
As we continue to navigate the uncertainties created by the COVID-19 pandemic, our focus remains on keeping our people safe and well, maintaining safe and reliable operations and supporting our communities. During this period of volatility, we have focused on what we can control, delivering a strong operating result, including record production at Worsley Alumina, Brazil Alumina and Australia Manganese, supporting lower Operating unit costs at the majority of our operations during the half. Looking ahead, we have increased production guidance at Cannington, Illawarra Metallurgical Coal and Cerro Matoso. Additional volumes and other cost efficiencies across our operations will help offset weaker US dollar headwinds.
Notice convening the Annual General Meeting of AB Electrolux
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STOCKHOLM, Feb. 15, 2021 /PRNewswire/
The shareholders of AB Electrolux, reg. no. 556009-4178, are hereby given notice of the Annual General Meeting to be held on Thursday, March 25, 2021.
Due to the coronavirus, the Board of Directors has decided that the Annual General Meeting should be conducted without the physical presence of shareholders, representatives or third parties and that the shareholders before the meeting should be able to exercise their voting rights only by post. Information on the resolutions passed at the meeting will be disclosed on March 25, 2021, as soon as the outcome of the postal voting has been finally confirmed.
2 - 1 January 2020 / 31 December 2020
Net banking income of 468 million Euro (-16,2% on 31.12.2019), negatively impacted by the effects of the pandemic crisis.
Operating costs of 308 million Euro (+4,4% on 31.12.2019), mainly due to the incurring of non-recurring costs.
Improved asset quality with the disposal of 120 million Euro (GBV) in non-performing credits (mainly ex-Interbanca) in the Q4 2020.
Capital requirements with the consolidation within La Scogliera
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CET1 up to 11,29% (10,96% at 31 December 2019) versus an SREP requirement of 8,12%; TCR: 14,85% (14,58% at 31 December 2019) versus an SREP requirement of 12,5%. Requirements are calculated net of the 2019 dividend (Euro 1,1 per share), payment of which is suspended as a result of the recommendations of the Bank of Italy and the 2020 dividend (Euro 0,47 per share), which will be proposed for approval by the Shareholders Meeting in April 2021.