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Endesa cut its profits by 31 percent in March

Endesa made a net profit of €338 million The company reported that the first quarter of the year saw extreme…

By admin , in news , at May 10, 2022


Endesa made a net profit of €338 million The company reported that the first quarter of the year saw extreme volatility in the power sector, representing a 31.2% decline compared to the same period last year, although it has reaffirmed its objectives for the whole of 2022.

gross result of Exploitation Endesa’s (Ebitda) at the end of March stood at 914 million euros, a decrease of 10.4% compared to the first three months of 2021, but 10% higher than the previous year’s unusual results.

financial goals

The group’s net simple profit for the first quarter stood at 33.8 million, a decline of 31%, although it impacts This result recorded in exceptional 2021 would be an increase of 14%.

Revenue from Energy Company operated by joseph bogas Their amount amounted to 7,596 million euros, an increase of 59.1% in the period from January to March.

Thus despite this decline in profit, Endesa reaffirmed its financial objectives for this 2022 with net general results of EUR 1,800 million and EBITDA of EUR 4,100 million.

CEO of EndesaJosé Bogas highlighted that the start of the year is “facing an even more challenging situation than the previous one, given the macroeconomic tensions created by the effects of the war in Ukraine and this conflict in the raw material market”. Marked to move. Already very inflated for months.

Renewable energy

In this sense, he highlighted that the group “continues to rely on them”. Perseverance of our vertically integrated business model to meet the 2022 goals.” He added, “and we advise all customers covered, at any rate, to address energy market turbulence in their homes and businesses.” We maintain our strategy of giving and helping them.”

On the other hand, the company has 90% power renewable Which is expected to be already in operation or execution in 2022, and 70% of those scheduled for 2023.

With regard to its business activity, it registers a growth of customers liberalized market increased from 800,000 to 6.4 million in the past 12 months, up 13%.