Endesa returns to good figures. The energy company led by José Bogas triggered its benefits by 154% last year, to 1,888 million, thanks to the normalization of the energy market and the lack of extraordinary impacts, such as the award he lost against. Endesa has reported that this result allows you to “expand and accelerate” the investments planned for the 2025-2027 period depending on the regulatory scenario.
The company has explained that the great increase in the benefit was due to the solid evolution of the EBITDA, that is, the profits before taxes and amortizations, which amounted to 5,293 million, 40% more than in 2023, “thanks to the positive contribution of all business segments and the absence of extraordinary impacts such as those recorded a year earlier”.
He pointed out that the normalization of energy prices was manifested in gas reduction (PVB, reference index in Spain, 12% up to 35 euros/MWh) was reduced and, as a consequence, the average price of the pool Iberian electric dropped 28%, up to 63 euros MWh. The free cash flow, meanwhile, grew to 4,100 million euros, about 1.2 billion more than at the end of 2023.
“We have obtained outstanding results in the year, which provide us with a solid cash flow and that support healthy financial metrics. As a result of all this, we have raised up to 1.32 euros the dividend that we foresee this year, which represents 32% more than in 2023 and 10% more than the goal we had set. Our dividend profitability is thus above 6%. We continue advancing in the main axes of our Strategic Plan 2025-2027 and we reiterate our financial capacity to increase and accelerate that investment plan in energy transition if the regulatory environment supports it, ”said the CEO of Endesa, José Bogas. Facing the period 2025-2027, Endesa promises a payout 70% and a minimum guaranteed dividend of one euro per share.
The company has highlighted in its results that. This is a fiscal rate of 27%, according to Endesa, which has been affected by the extraordinary energy to the energy that and that has ceased to be in force as of January.
Endesa stressed, in turn, that it has continued to reduce its debt, which is now located at 9.3 billion, 11% less than a year ago, thanks above all to “that the cash flow plus the income obtained by the sale of a minority participation in a portfolio of solar plants exceeds widely exceeding the undertaken investments and the dividend subscriber”. The energetic leverage ratio is 1.8 times its Ebitda. The gross debt, meanwhile, amounts to 10,500 million, 23% less, with an average cost of 3.6%, which means that its debt is 0.4 points more expensive than a year ago.
Regarding its marked objectives for the coming years, Endesa has allocated more than 900 million to modernize and expand its current distribution network. The volume of electricity distributed by the company increased by 2%, to 139 TWH. The company has assured that it plans to continue increasing investments, “subject to the improvement of the remuneration of the network for the period 2026-2031 that is expected to know throughout this year.”
On the other hand, Endesa has indicated that 86% of the electricity produced in the Iberian Peninsula and the nuclear, which represents six percentage points more than in 2023. The renewable generation grew by 25%, thanks especially to the good year of rains that allowed the increase in river flows. The installed peninsular capacity increased in 200 MW last year, to 17,200 MW, of which 78% is renewable or nuclear. This February, Endesa closed a purchase announced in November of hydroelectric assets with a production capacity of 626 MW.
