The representation of performance by business area presented here is based on the approach used by management in monitoring Group performance for the two periods under review, taking account of the operational model adopted by the Group as described above.

Taking account of the provisions of IFRS 8 regarding the management approach, performance by business area reported in this Annual Report was determined by designating the Regions and Countries perspective as the primary reporting segment. In addition, account was also taken of the possibilities for the simplification of disclosures associated with the materiality thresholds also established under IFRS 8 and, therefore:

  • “Thermal Generation” and “Trading and Upstream” are presented together given the considerable interaction and interdependence between them;
  • the “Enel X” area is presented together with “End-user markets” pending the full operation of the organization and the corporate reorganization to separate the scope of activities of the new Business Line;
  • the item “Other, eliminations and adjustments” includes not only the effects from the elimination of intersegment transactions, but also the figures for the Parent Company, Enel SpA.

The following chart outlines these organizational arrangements.