Endesa obtains a profit of 916 million in the first half

In an adverse market context caused by the outbreak of the war in Ukraine and the rebound in the prices of energy raw materials -particularly gas, which has been 305% more expensive on average in the first half of the year compared to the same period of 2021–, Endesa has confirmed its objectives for the first half of 2022.

NewsEditor
NewsEditor
27 July 2022 Wednesday 16:53
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Endesa obtains a profit of 916 million in the first half

In an adverse market context caused by the outbreak of the war in Ukraine and the rebound in the prices of energy raw materials -particularly gas, which has been 305% more expensive on average in the first half of the year compared to the same period of 2021–, Endesa has confirmed its objectives for the first half of 2022.

The electricity company obtained a net profit of 916 million euros in the first half of the year, which represents an increase of 10.1% compared to the same period of the previous year, driven by the extraordinary income from the partial sale of its electricity business. electric mobility to its Enel parent company.

Excluding this component, the electricity company's ordinary net profit, which is the basis for the distribution of the dividend, fell by 11.8% in June compared to the previous year, to 734 million euros.

The gross operating result (ebitda) of the energy company in the period from January to June stood at 2,188 million euros, 16.5% more.

The income of the group led by José Bogas reached 14,841 million euros at the end of the first half, with a growth of 64.4% compared to the same period last year.

In the last year, the company has managed to attract one million new home and business users in the free market compared to June 2021, reaching 6.6 million. In total, Endesa closes June with 10.5 million customers in Spain, 3% more than in the middle of last year.

Endesa has made investments of 934 million in the semester to promote its decarbonization and electrification strategy, 26% more than in the same period of 2021. More than 70% of this investment has been allocated to renewable energies and improvements to the electricity network. distribution.

Thus, the company has closed the first half of the year with 90% of the new renewable power planned for the year already operational or in execution. In this sense, the network of charging points for electric vehicles has registered a growth of 39%, up to a total of 11,100 at the end of the semester compared to the same period in 2021, which places it as the leader in Spain.

The CEO, José Bogas, stated that the energy company "is pending" to know the details of the new tax that the Government wants to impose on banks and energy companies to raise some 7,000 million euros in two years, although he defended that the electricity company " does not obtain extraordinary benefits at this juncture, complying with the legislation approved in recent months”.

According to José Bogas, "particular measures such as the Iberian exception mitigate the rise in prices, but they do not solve the underlying problem: the high price of gas".

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