The income reported by the group led by Beatriz Corredor, which includes the Spanish electricity grid operator, covers January through September and totals 1,523.03 million euros. After broad-based growth across all businesses, the group notes an overall rise of 3.9% for the period.
Redeia, on its own, posted a gross operating result, or EBITDA, of 1,182.3 million euros through September, reflecting a 2.1% increase over the first nine months of the prior year.
In terms of capital expenditure, investments reached 484.9 million euros by the end of September, marking a substantial 38.9% year-over-year rise.
By September 30, Redeia’s net financial debt stood at 4,398.1 million euros, showing a 22.1% decrease from the 2021 year-end figure of 5,647.8 million euros.
The board of directors also approved an interim dividend of 0.2727 euros per share, with payment scheduled for January 9.
The turnover for the Beatriz Corredor-led group, which includes Spain’s electricity grid operator, from January to September, totaled 1,523.03 million euros, continuing the trend of growth across its activities as a whole, with a 3.9% increase.
Overall revenue, comprising turnover and the results of invested companies, reached 1,554.8 million euros, up 4.8% compared with the January-to-September 2021 figure.
The group highlights that the gains come from all business segments, with notable momentum in international electrical activity and the satellite and fiber optic sectors appearing especially strong. In particular, Redinter, the group’s international subsidiary, recorded a 60.4% rise in revenue following the ARGO II commissioning and acquisition, driven by projects in Peru and Chile and the favorable translation effects of Argo’s results contributing to Brazil, coupled with the updated Argo IV and new pricing parameters.
Hispasat, the satellite subsidiary, delivered higher sales in the telecommunications arena, with gains of 6.3 million euros and an 18.1 million euro uplift linked to changes in the accounting framework.
Increase your investments by approximately 39%
Investments through September reached 484.9 million euros, representing a 38.9% increase versus the same period in the previous year.
Within that framework, Redeia’s investment in expanding Spain’s transmission network stood at 272.2 million euros, a 9.3% rise from the first nine months of 2021.
In telecommunications, satellite activities accounted for about 118 million euros with the acquisition of Axess Networks, a transaction concluded in August. For the nine months, fiber optic investments remained marginally higher than in the prior year.
Additionally, approximately 22.3 million euros were allocated to other investments, including infrastructure projects and Redeia’s Elewit technology platform developments.
Meanwhile, Redeia’s net financial debt as of September 30 stood at 4,398.1 million euros, down 22.1% from the end of 2021, a decline largely explained by the sale of Redeia’s 49% stake in its fiber optic subsidiary Reintel to KKR, a move aimed at strengthening its capital base to address the ecological transition challenges ahead.