Spain · Delayed Price · Currency is EUR Endesa Earnings Call Transcripts
Fiscal Year 2025
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EBITDA and net ordinary income exceeded guidance in 2025, driven by strong cash generation and disciplined investment, with a 20% dividend increase and a €2 billion share buyback underway. The 2026–2028 plan targets €10.6 billion investment, focusing on networks and renewables, with EPS and dividends set for steady growth.
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EBITDA rose 9% to EUR 4.2 billion and net income increased 22% to EUR 1.7 billion year-on-year, with strong cash generation and a stable supply margin. Regulatory uncertainty and rising ancillary service costs remain key risks, but guidance for the year is reaffirmed at the upper end.
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Strong H1 2025 results with EBITDA up 12% and net income up 30% year-on-year, driven by robust cash generation, decarbonization progress, and disciplined capital allocation. Regulatory uncertainty and market volatility remain key risks.
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EBITDA rose 33% year-over-year to €1.4 billion, with net income doubling and strong cash generation. Acciona hydro assets were acquired, a €2 billion share buyback was launched, and guidance for the year is confirmed despite ongoing blackout investigations.
Fiscal Year 2024
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2024 saw EBITDA up 40% and net income more than double, driven by strong performance across all segments and robust cash generation. Renewables output surged, and a higher dividend is proposed. 2025 guidance anticipates further EBITDA growth, mainly from gas, with stable net income.
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The plan targets €9.6 billion investment through 2027, focusing on grid and renewables, with EBITDA and net income set for solid growth. Regulatory clarity will determine further investment or dividend increases, while customer and sustainability strategies support long-term value.
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EBITDA rose 16% and net income 33% year-over-year in the first nine months of 2024, driven by strong integrated business performance, robust renewables growth, and stabilized customer base. Guidance is for results at the upper end of the range, with healthy credit metrics maintained.
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EBITDA for H1 2024 was €2.4 billion, nearly flat year-over-year, with net income down 9%. Despite intensified competition and lower prices, the company confirmed full-year guidance, supported by cost efficiencies, increased renewables, and a strong hedging position.