The top 10 energy companies in the world

AFP
PARIS
Petroleumworld.com 02 28 06

The European energy industry is in the grip of takeover turmoil and a storm of controversy over competition policy 18 months ahead of another step in the liberalization of the sector.

Among the factors driving change and dispute is a long-established policy at European Union level in favor of deregulation and cross-border competition to break down dominant national market players, the successors in many cases to former state-owned monopolies.

But as competition has penetrated across borders in many fields, some governments have balked at the prospect of foreign European companies -- and their international shareholders -- gaining control of what had always been considered pillars of national industry and pride.

Many analysts expect this movement at EU level to continue despite counter-pressures in some countries, and the turbulence in the markets is driven by considerations of who owns the companies.

Here is a breakdown of 10 of the largest energy groups in the the world, eight of which are in Europe.

Evaluations of groups are based on share prices on Friday. Calculations do not take account of the merger of Suez and GDF announced Saturday, nor of the current takeover bid of Endesa by Gaz Natural and the counter-bid by the E.ON group.

1. EDF (France)

Capitalisation: 80.97 billion euros (96 billion dollars)
Turnover: 51.1 billion euros
Shareholders: French state, 87.3 percent; individuals and institutions, 10.8 percent; employees, 1.7 percent

Holdings and interests in other energy groups in Europe: EnBW (Germany), Edison (Italy), Groupe Atel (Switzerland).

2. E.ON (Germany)

Capitalisation: 65.5 billion euros
Turnover: 56.4 billion euros
Shareholders: all capital is listed, no shareholder has more than five percent

Other interests: Only foreign shareholder in Russian gas company Gazprom, with 6.5 percent of shares; numerous Hungarian, Czech, and Slovak companies plus companies in the United States and Netherlands.

3. Enel (Italy)

Capitalisation: 43.9 billion euros
Turnover: 34 billion euros
Shareholders: Italian state, 32.3 percent. Other shareholders include investment, pension and insurance funds. Only Generali insurance group holds more than two percent.

Other interests: 66 percent of Slovenske Elektrarne (Slovakia); 51 percent holdings in Electrica Banat and Electrica Dobrogea (Romania); owner of Mritza East III power station (Bulgaria). Runs power station in Saint Petersburg with Russian company ESN Energo.

4. Suez (France)

Capitalisation: 43.02 billion euros
Turnover: 41.5 billion euros (30.4 billion in energy). Figure omits Electrabel, acquired in 2005 (capitalisation: 23.35 billion euros; turnover: 12.21 billion euros).
Shareholders: Public shareholders hold 74.5 percent. Main shareholders include Groupe Bruxelles Lambert, 7.2 percent; employees, 4.2 percent; Credit Agricole, 3.7 percent.

Other interests: National Rhone Company, 25 percent holding; companies in Italy, Hungary, Poland and Turkey.

5. RWE (Germany)

Capitalisation: 40.0 billion euros
Turnover: 41.82 billion euros (37.53 billion euros in energy)
Shareholders: Municipal shareholders own 31 percent of shares

Other interests: 100-percent holding in British companies Thames Water and npower; American Water Works (USA); Transgas (Czech Republic); Priseda (Spain). 99-percent holding in Polish electricity company Stoen; various interests in Hungary.

6. Exelon (United States)
Capitalisation: 32.09 billion euros
Turnover: more than 12.9 billion euros. Merger with PSEG due to create group with 22.74 billion euros turnover
Shareholders: Capital Research and Management Company, 6.92 percent; Willington Management Company, 5.86 pecent, Barclays Bank, 3.86 percent; State Street Corporation, 3.67 percent; Vanguard Group, 2.36 percent
Other interests: None overseas after sale of Sethe Energy in 2005.

7. Endesa (Spain)

Capitalisation: 30 billion euros
Turnover: 18.22 billion euros
Shareholders: main shareholder is Caja Mardid savings bank, nine percent of shares

Other interests: 65 percent of Chilean Enersis holding; 65 percent of SNET national electricity and thermal company in France.

8. Tokyo Electric Power (Japan)

Capitalisation: 29.44 billion euros
Turnover: 36.63 billion euros
Shareholders: financial institutions, 37.4 percent; Tokyo municipality, 3.2 percent; private investors, 37.7 percent

Other interests: holds 28.2 percent of Japan Atomic Power Company; 20.6 percent of Japan Nuclear Fuels

9. Gaz de France (France)

Capitalisation: 29.3 billion euros
Turnover: 22.39 billion euros
Shareholders: State, 80.2 percent of capital; public and institutions, 17.5 percent; employees, 2.3 percent

Other interests: British, Spanish, Dutch and Ivorian companies

10. Iberdrola (Spain)

Capitalisation: 24.9 billion euros
Turnover: 11.73 billion euros
Shareholders: Basque savings bank BBK, 7.5 percent; Banco Bilbao Vizcaya Argentaria, 5.4 percent

Other interests: strong involvement in Latin America, notably Mexico, Brazil and Guatemala. Holds 49.9 percent share in Greek wind power company Rokas.

Source: Thomson Financial, companies

AFP 02 28 06

Copyright © 2006 AFP. All rights reserved

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