Endesa reduces its profit by 4% to June, up to 879 million, due to extraordinary minors

Reaffirms its goals for the year as a whole

MADRID, 26 Jul. (EUROPA PRESS) -

Endesa registered a net profit of 879 million euros in the first half of the year, which represents 4% less than the same period last year, in which it added capital gains from the sale of 51% of its electric mobility business to its parent Enel, the company informed the National Securities Market Commission (CNMV).

Without taking into account the extraordinary ones, the ordinary net profit of the energy company led by José Bogas would have grown by 19.8% in the semester compared to the same period in 2022.

The gross operating result (Ebitda) of the electric company grew by 13.2% in the period from January to June of this year, to 2,476 million euros.

For its part, Endesa's revenues in the first six months of the year fell by 11.6%, standing at 13,121 million euros at the end of the period.

Endesa thus reached the first half of the year, reconfirming its main financial objectives for the year, which include an Ebitda of between 4,400-4,700 million and a net profit of between 1,400-1,500 million euros, paying a dividend per share in the environment of 1 euro.

These results were recorded in a market context in which it continues to normalize compared to the previous year, marked by the energy crisis after the outbreak of the war in Ukraine.

Thus, the average price of the Iberian electricity market stood at 88 euros megawatt/hour (MWh) in the period, 57% less than in the first half of 2022. A reduction equal to that registered by both the average price of gas in the TTF index (44.6 euros MWh, 55% less) as in the Iberian reference PVB (42 euros MWh, 55% less).

In addition, in the first half of the year the demand for electricity from Endesa customers on the Peninsula fell by 3.8%, mainly due to lower consumption in the services and residential sectors.

((WILL BE EXTENSION))