Spain · Delayed Price · Currency is EUR Redeia Corporación Earnings Call Transcripts
Fiscal Year 2026
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The meeting reviewed strong financial growth, record investments, and the launch of an ambitious 2026-2029 Strategic Plan focused on sustainability and infrastructure. Shareholders discussed the April 2025 blackout, with management emphasizing regulatory compliance and multifactorial causes. All resolutions, including director appointments and dividends, were approved.
Fiscal Year 2025
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Record TSO investments and strong regulated business growth drove a 37% profit increase in 2025, with a robust financial position and ambitious €6.5 billion investment plan for 2026-2029 focused on energy transition and network modernization.
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Record H1 2025 investments drove 2.2% revenue and 2.8% EBITDA growth, with net profit stable at EUR 269 million. Regulatory changes and system reinforcement followed the April blackout, while the Hispasat sale and EIB loans support a robust investment plan and solid financial outlook.
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The AGM highlighted record investments, strong financials, and a focus on grid resilience and renewables. Shareholders raised concerns over the April 28 blackout, transparency, and board accountability, leading to a proposal for the chairwoman’s resignation. Key governance and sustainability milestones were also reported.
Fiscal Year 2024
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2024 saw a sharp revenue decline due to regulatory changes, but record investment and strong sustainability performance. Excluding one-offs, EBITDA and profit grew, and 2025 is set for even higher CapEx and stable profitability, supported by the Hispasat sale.
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Record TSO investment and strong renewable integration marked H1 2024, with underlying business growth offsetting the negative impact from the end of pre-98 asset remuneration. Guidance for 2024 is reaffirmed, with robust financials and continued CAPEX commitment.