Finance
Endesa more than doubles full-year profit
Published by Global Banking & Finance Review®
Posted on February 27, 2025
1 min readLast updated: January 25, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on February 27, 2025
1 min readLast updated: January 25, 2026
Endesa's net profit surged to 1.89 billion euros in 2024, driven by a strong performance in its gas business and exceeding analyst forecasts.
MADRID (Reuters) -Spanish power utility Endesa's net profit more than doubled in 2024, it said on Thursday, helped by recovery in its gas business.
Endesa, owned by Italian energy giant Enel, booked a net profit of 1.89 billion euros ($1.98 billion), up from 742 million euros a year earlier, when results were hit by settlement of a supply contract dispute.
The average forecast from analysts polled by LSEG was a net profit of 1.86 billion euros.
Gas margins rose to about 4 euros per megawatt hour, above previous guidance and the company proposed a dividend of 1.32 euros per share against 2024 results, up 32% from 2023 and 10% above its guidance.
The company said that it has the financial muscle to boost investments tied to energy transition, provided that the regulatory environment is supportive.
($1 = 0.9549 euros)
(Reporting by Pietro LombardiEditing by David Latona and David Goodman)
Endesa reported a net profit of 1.89 billion euros for 2024, significantly up from 742 million euros the previous year.
The recovery in Endesa's gas business contributed significantly to the doubling of its net profit, with gas margins rising to about 4 euros per megawatt hour.
Endesa proposed a dividend of 1.32 euros per share for 2024, which is a 32% increase from 2023 and 10% above its previous guidance.
Endesa stated that it has the financial capacity to increase investments related to the energy transition, contingent on a supportive regulatory environment.
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