Endesa expects a delay in electrification due to inflation and rising rates

Compared to this context on the table and your plan 2023-2025Spanish company, more money into networks and customer space, but also to the field of traditional production. As detailed, 31% of your investment will be directed to: electrical networksAbout 2,800 million in total (200 million more than the previous estimate), but this amount new regulatory parameters; as in the previous plan, 48% will be allocated to renewable energy, the same 4.3 billion, but in this case Endesa is betting alliances with other partners Its main policy is to develop its projects and maximize the “risk-return profile”.

The company is maintaining the same ‘green’ energy target (13.9 gigawatts) as in the previous plan, and three-star projects in clean energy will be: Andorra’s just transition (Teruel), I shot (Portugal) and Galicia. The first two involve an investment of 1,700 and 700 million euros respectively and will be operational in 2026-2027 and 2026. The third will be put into operation with a total of 800 megawatts of wind power plants and an investment of approximately 1,000 million euros. March 2025.

Its purpose is where the changes occur. customers. Endesa wants more customers in the free market –while the previous plan set a target of 7.3 million, the current plan aims to reach 7.5 million at the end of the period after closing 2023 with 7.1 million, according to estimates– and more loyal, with a clear commitment to packaging of services, in the style of ‘telecos’. He will dedicate himself for this 900 million This area is 100 million more than the previous plan. The same number (900 million in total, 100 million more than the previous road map) will also be allocated. traditional generationIt includes combined cycles, nuclear generation (Endesa is in the process of shutting down all its facilities), off-peninsula businesses and corporate structure.

The energy company that leads with these figures José Bogas It aims to achieve gross results (ebitda) between 5,600 and 5,900 million in 2026 (the previous plan had set this range at 5,200 to 5,500 million in 2025). net ordinary profit between 2,200 and 2,300 million euros for the same year (2,000 to 2,100 in 2025 according to the previous path). The company achieved an EBITDA of 5 billion 327 million euros and a net profit of 2 billion 541 million euros in 2022.

Also Endesa, dividend It announced an addition of around 0.50 euros to this year’s results and extended the 70% payment for another year until 2026. Minimum wage of 1 euro per share over a three-year period. In this way, it includes the fee planned to be 1.2 euros per 1 euro base in 2024 and It is estimated that it will remain at the level of 1.5 euros in 2026. This decision follows the decision of the International Chamber of Commerce (ICC) International Court of Arbitration, according to which the energy company had to pay approximately $ 570 million (about $ 530 million). million euros) QatarEnergyTo review the price of a long-term supply contract for liquefied natural gas (LNG).

According to net debtLiabilities in the period are expected to increase. 10,000 and 11,000 million It will close 2023 with a net investment of 8 billion and dividend payment of 4 billion; balanced items 11 billion cash flow And 3 billion with the contribution of partners and the rotation of assets according to the new cooperation model (“partnership model”). However, net debt will be between 8,000 and 9,000 million in 2026, 10% to 20% lower than expected for the end of 2023.

The company, which proposed a reduction of 1,200 people in its workforce over the next four years in 2020, aims to reach this figure by 2026. 100 fewer people more than the current 9,100 employees.