Endesa avoids the shock of the power outage and boosts profits by 30% until June.

MadridEndesa earned €1.041 billion between January and June of this year, 30.1% more than the same period last year, according to a report to the National Securities Market Commission (CNMV) on Tuesday. Although the first half of the year was marked by the massive power outage on April 28, the utility defines the result as "excellent" and links it to the good performance of its liberalized electricity generation and marketing business, but also to the disappearance of the extraordinary tax of the Spanish government, which has affected the accounts of the largest energy companies in the country over the last two years.

Regarding the power outage, Endesa CEO José Bogas defended in a press release that the company complied "fully with the instructions of the electrical system operator," that is, with what is indicated by the limits of the security protocols. Bogas also stressed that Red Eléctrica "is ultimately responsible" for maintaining the stability and control of the electrical system's voltage.

Since the massive power outage, the companies and the Spanish electrical system operator have exchanged reproaches regarding the causes of the incident that left the entire Iberian Peninsula without power for hours.

Endesa has explained that it has received some customer complaints about the power outage, but none of them are significant. For this reason, the company has decided, for the time being, not to make any provisions to address potential compensation payments.

During the first half of the year, revenue increased by 4.5% to €10.88 billion, and gross operating profit (EBITDA) rose by 12.3% to €2.711 billion. Net debt stood at €9.9 billion, 6.5% higher than at the end of 2024 (€9.3 billion). The multinational attributes this to being able to "cover the organic investment of €1.1 billion and the inorganic investment of €950 million" to acquire hydroelectric assets. It also includes the interim dividend payment for 2024 (€600 million).

With these figures, Endesa reaffirms its commitment to meeting its objectives for 2025, a year in which it expects to achieve a profit of between 1.9 and 2.000 million euros and an EBITDA (which shows the financial health of the company through its daily activity) of 5640.

Remuneration of the electrical network

Endesa, like the other affected companies, criticized the CNMC's proposal regarding the remuneration of the electricity grid for the next six years. It warned that the final decision "should not threaten the decarbonization objectives" of the State and affirms that the proposal for the 2026-2031 period "Integrated Energy and Climate." In other words, it goes against the objectives set by the Spanish government. The Competition Authority proposes a remuneration rate of 6.46%, while the sector calls for an increase to 7.5%.