Endesa is suffering from an accumulation of unusual negative impacts in its calculations. The power company recorded net profits last year of 742 million euros, which represents a decline of almost 71% compared to the more than 2,540 million it received in 2022 and practically half of the 1,435 million euros in 2021, according to financial results sent to the CNMV by the energy company.
Several factors exceptionally slowed the results, such as the impact of arbitration with an LNG supplier (net impact of 398 million), the temporary tax bill on major energy companies (208 million) and provisions for adjusting employees to digitize tasks (124 million).
One euro per share
As for the ordinary net profit, which forms the basis for distributing profits and does not include some exceptional items, it amounted to 951 million, i.e. 60% less. The company confirms a dividend of one euro per share.
Endesa recorded total operating earnings (EBITDA) of 3,777 million, a decrease of 32% due to the same exceptional items (EBITDA in similar numbers was 4,392 million, recording a decrease of 18%).
“After a 2023 that was affected by exceptional circumstances, we maintain for the current financial year a return to the growth path based on the normalization of market conditions. Specifically, we are confident in the normalization of margins for the gas and conventional generation businesses. We also expect a very limited impact of the current price context thanks to our strategy For early sales of our production,” said Endesa CEO José Bogas, who ratified the financial forecasts for the coming years.
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