The war in Ukraine triggers 52% of large energy companies, up to 9,572 million benefits.

Big energy companies capitalize on their good moments. repsol, Endesa, naturalnessCepsa and Iberdrola Earned 9.572 million joint profits in the first nine months of the yearThat’s 52% higher than the same period in 2021.

With a recession on the horizon and the highest inflation, these companies are raising their results as energy prices rise due to the impact of the war in Ukraine. “Things have been very positive this year. The raw material costs for which these companies work are triggered by the war in Ukraine and passed on to consumersthus their revenues doubled”, explains Darío García, XTB analyst.

“The price of gas is now very high, although it is limited. We’re seeing prices six or seven times higher than last year,” explains Fernando Dávila, CEO and founder of Crowmie, an investment platform for renewable energy projects. Acciona Renovables was not included in the selection of these major energy companies by Assets due to the lack of updated results until September. But its results for the first six months of the year evolved similarly to the others: 201 million earned 35.6% more.

The banking sector and energy companies are the main actors of the year. This is mainly reflected in the dividends, that is, in the wages of the shareholders.. Repsol was the first to raise the bunny, after the presentation of the results announced that after making a profit of 3,222 million euros between January and September, it will pay each shareholder 0.70 euros in 2023, which is 11% more, or 11% more. “Energy companies are aware of the need to encourage investors. They have to be attractive companies, and that includes better remuneration to shareholders, which explains the increased dividend announcements some have made,” says Darío García.

Good times also for those who have a stake in Iberdrola, 29% more than last year and 6% more than a year ago, after the company announced a net profit of 3,104 million euros in the first nine months of 2022, as the company will pay a complementary dividend of 0.18 euros per share on January 20. In addition, the company reported to CNMV that it expects a profit of between 4,000 and 4,200 million for the year.

Endesa, on the other hand, made a net profit of 1.651 million, which means an increase of 192 million compared to the previous year. Revenues also skyrocketed and the energy company was able to bill up to €24,620 million, 73% more than its activity in the same period in 2021. To reward the shareholder, the company plans to pay 1.44 euros for each share in 2022.

The next Spanish energy company to generate the highest profits in the first nine months of 2022 was Naturgy. The company earned 1.061 million, representing a 37% increase compared to 2021. These results were achieved despite the increase in the price of gas purchased from Algeria. In addition, the company’s revenues recorded a strong increase of up to 85.5% through September, reaching 27,011 million. Based on the current market environment and expectations, Naturgy believes EBITDA for 2022 could reach 4,800 million euros. The anticipated dividend payment for this year is EUR 1.05 per share.

Last to join the party The results were CepsaThis Friday it posted a profit of 982 million between January and September, which is 97% more than the same period last year, contrasting with losses of 810 million that dragged the group down in 2020.

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In addition to profits and dividends, the turnover of all these companies increased at the end of September 2022. Up to 72.5% more in the case of Repsol, up to 61,965 million. It reached 37,903 million euros, just below Iberdrola, which increased its turnover by 35.4%. Naturgy reached 27,011 and Endesa reached 24,620.. This high billing has been one of the flags for the Government to associate taxes with energy, revenue, not profit. In addition, the European Commission has introduced a 33% tax on “extraordinary” profit levels for oil and gas companies, but unlike the Executive’s plans, the tax proposed by Brussels falls on profits, not bills.

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