Endesa made an ordinary net profit of 734 million Euros in the first six months of the yearGross operating profit (Ebitda) rose 4% to €1,950 million, 12% lower than the previous year, as the company announced to the National Securities Market Commission (CNMV) at a related event. These figures do not take into account the sales of 51% of the company. electric mobility business (Endesa X) to parent company, Enel, in April. However, if you add in the proceeds from this operation (182 million Euros), the net profit increases by 10% and the Ebitda by 17%.
The company frames these results in a context. negative market It was motivated by the outbreak of war in Ukraine and the rise in prices of energy raw materials, primarily gas. Again, confirm your goals for year-end: 1,800 million normal net income and 4,100 million EBITDA. “The flexibility of our model has allowed us to successfully exit one of the most complex and ever-changing scenarios,” said Endesa CEO. Joseph Bogasat the conference with analysts.
this Income The share of the group reached 14,841 million Euros in the first six months of the year with a 64.4% growth compared to the same period of the previous year.
About her new tax on energy companiesBogas, which the government wants to present this Thursday, Refused to make any assessments without knowing the details He insisted that the rate, however, “not only had the extraordinary benefits, but also reduced the consequences for the power companies of this crisis.” In a message to the government, he recalled that the European Commission had said any new rate “should not be excessive or put at risk renewable investments or the CO2 market”.
Endesa insists sold all electricity generation marginal (from unregulated hydraulic, nuclear and renewable power plants) for this year and 80% of that for next year at a price of 65 euros per megawatt-hour, Below 67 euros per megawatt-hour, which the manager saw as a “reasonable” price. And he adds that the company does not reflect the increase in energy prices to its customersbut he also admitted that they will make contract renewals during the second term adjusting prices and raising the company’s margins. “We will find a way to offer them the best price,” Bogas added.
The energy company closes June with: 10.4 million customers in Spain, 3% more than in the middle of last year. 6.6 million of this figure corresponds to the free market, one million more than the first half of 2021 The remaining 3.9 million corresponds to the regulated market due to higher energy prices (16% less than in the previous quarter).
this company net debt It reaches 10,275 million euros, representing an increase of 1,470 million compared to the end of 2021 from the increase in investments, the temporary negative evolution of free cash flow (negative at 169 million, strongly affected by an increase in pending regulatory items). 733 million plus an increase in raw materials and tolls) and a dividend payment (536 million) due to January 2021 results.